VIth Sense: Positioning Your Brand in a Post-Covid Environment
We write a lot about emerging marketing trends, channels and strategies at VI. It’s obviously important to stay ahead of consumer habits. However, we never lose sight of the importance of a brand. Regardless of how and where they are purchased, consumers ultimately buy brands. Look at the shoes on your feet and the food in your pantry – you bought those items because there is value to you in the brand.
As the world has opened back up post-covid, consumer purchase patterns have shifted. The hard goods that enjoyed a surprising lift in sales during the pandemic have returned to normal as the population explores what we missed most: Experiences. We want to do stuff – like dine out in restaurants, go to public events, take trips, and socialize.
With demand decreasing for those durable goods, there will be many regrets by brands who got it while the getting was good, but didn’t invest in their brand. Why would they – they were selling more than they had on hand. And for higher profit margins than ever before.
Well, reality has come back in a hurry and, just like before the pandemic, the strongest brands will continue to flourish. Those that took some of that blue money and invested in supporting and evolving their brand will sustain long-term success.
Those restaurants, resorts, and events that are now getting flooded with business should take note. While there’s some financial catching up to do for them, their gravy train won’t last forever either. There will be a return to ‘normal’ levels of business for these companies too, and the strongest brands will flourish.
A well-positioned brand can survive a downturn and also capitalize in a high-demand market. There’s never a bad time to invest in your brand – as a marketer it should always be your top priority.