A recent study has officially crowned Apple the ‘coolest’ brand in the UK, pushing Aston Martin out of the top place after six years. This is part of a broader story of more accessible brands triumphing—25% of the top 20 are free to use e.g., YouTube, while Chanel, Vivienne Westwood, Maserati and others have been pushed out of the top 20. In a time of austerity, cheap and innovative brands can become more admired. But this is more than just an effect of the recession. In an age where consumers expect dialogue with brands, plus customization and ways to express their creativity (as many electronics allow), luxury brands can lose their status as fashion leaders if they remain too elitist and distant, and can be overtaken by innovative but affordable brands.
Link: bbc.co.uk
Image: news.cnet.com
An interesting trend. In the past consumers have looked upto brands as a means of self expression and hence the distance maintained by a luxury brand from its franchise was acceptable. But in this day and age of crowd sourcing and consumers actively participating in their brand’s future such an approach might be futile. Modern times demand better engagement in order to succeed and hence provides opportunities for value brands too.
Absolutely, and I think one of the interesting aspects is that distance and elitism can still work (the luxury market is not dead by any means), but often this needs to be more chosen by consumers. This means options to get involved and feel part of the brand, but no obligation, replacing brands that seem aloof and uncaring about any consumers other than their very wealthiest patrons.
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