Brands: Less Powerful but More Important than Ever
Iconic brands are finding themselves in a position they haven’t been in for decades. They’re becoming followers. This piece from Axios looks at how brands like Jell-O, Kraft Mac & Cheese, Oscar Mayer, CoverGirl and others find themselves under assault from upstart competitors that are more in-tune with consumer desires (e.g., by introducing plant-based ingredients), launching with updated product designs and doing business outside of traditional distribution channels.
The trends are concerning to any established brand. Upstarts have captured “31% of revenue share growth within the last four years.”
This is the new landscape brands in every category are facing or will soon be. CPG brands appear to be affected and suffering the most, but no industry is safe. Each is up for grabs.
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