Renewable Brands

We’re doing quite a bit of contemplation these days on brands that are poised for greater success in tougher economic times. The obvious categories with lower prices but high perceived value like confectionery or snack foods are already posting impressive and robust performance, like Cadbury in Europe.

There are a couple of other approaches that have grabbed our attention. The first is what we’re calling Renewable Brands, those that can be enjoyed time and again, in new ways, without having to spend (much) again to do so. The key part to this is being able to renew your engagement with that brand, so it feels fresh. The two that spring immediately to mind are the new Kindle from Amazon and the ubiquitous ipod - both very easy to refresh and renew at low cost. What other examples are out there of renewable brands?

The second is a very simple idea that seems almost revolutionary in its approach - products that are built to last and priced accordingly.  Howies, a UK based sports clothing line have come up with an idea called Hand Me Down. They have a jacket and 3 types of bag right now that are guaranteed for 10 years. The material is more robust, the stiching, zips etc are higher quality and perhaps the best bit…the label has space for the names of 3 owners - encouraging the passing on of the product. The prices are comparatively  high - the jacket is £400 and the bags range from £125-195, but that’s spread out over at least 10 years.

Both ideas are valid, but given the short-term nature of people’s thinking, I’m guessing the ability to refresh and renew is going to perform better than investing in a product that lasts. With the latter, we have to work harder to derive pleasure. What do you think?