Brands challenge their heritage with unexpected offerings
Implications - In an effort to challenge consumer expectations and provide a truly unexpected experience, brands are beginning to stray from convention by developing products and services emphasizing elements that contrast what the brand has come to be known for and what they are capable of achieving. Often involving innovative partnerships and unexpected collaborations, such offerings aim to genuinely surprise consumers and broaden the future vision of the brand as a whole.
Workshop Question - If you were to partner with another brand for a product launch, which brand would you collaborate with and on what type of product?
Trend Themes
1. Unexpected Offerings - Brands are straying from tradition by developing products and services emphasizing elements that contrast what the brand is known for, providing an unexpected experience.
2. Innovative Partnerships - Collaborations with innovative partners are becoming more common as brands aim to broaden the future vision of their offering and genuinely surprise consumers.
3. Resource Sharing - Businesses can capitalize on wider trends of resource sharing amongst Millennials to offer car sharing programs, incentivizing individuals to become loyal customers through the experience.
Industry Implications
1. Luxury Retail - Luxury brands can leverage unexpected offerings to build excitement, engagement and a future-focused perception of their brand in today's consumer landscape.
2. Online Auctions - Auctions can create unique online-offline partnerships to increase sales while expanding their reach among different demographics.
3. Beverage Industry - Businesses can utilize innovative production techniques or different ingredients to offer new flavors as consumers look for unique drinking experiences.
