Redefining values

While keeping high expectations of quality and price, consumers are increasingly looking for other sources of product ‘value’. What represents value differs from person to person. Functional attributes are still critical, however consumers are also increasingly scrutinising brand values and personality on a more emotional level to ensure they align with their own values.

How is this sub-trend evolving?

How it was

A desire for good value beyond just price e.g. versatility, transparency, control
.
.
.

How it is

Increasingly personal definitions of ‘value’, including both functional benefits and alignment with consumers’ personal values

How it will be

Primarily products need to work for the consumer but after that they must align with values, and do some additional good

In-market examples from around the world

What: 5Skippas Beer is a new South African beer launched with the line ‘keep it local’ referring to their commitment to promote South Africa on a national and international stage
Why: By aligning with the local community and making it their mission to promote S.A. on a wider set, the brand better resonates with Millennials in the country who take pride in celebrating their roots.
What: A high caffeine beverage that aligns itself with various fringe youth culture movements based on high-intensity lifestyles. The brand embraces rock ‘n’ roll, metal, biker, and extreme sport cultures to connect with the large audience embracing a high-risk, care-free, and counter establishment philosophy.
Why: The functional benefit is the high caffeine content and, at an affordable price-point, the brand caters specifically to a niche that aren’t usually specifically targeted. However, the true differentiator comes when we consider the values the brand aligns with. RockStar is intent on creating a ‘movement’, beyond just sponsorship and partnership with events, it has created an online community of ‘RockStars’ who benefit from discounts and early bird access to these exclusive happenings. In this case, the followers of niche subcultures feel included and specifically catered for, meeting their emotional needs.
What: Barnana offers a range of banana-based snacks made from ‘imperfect’ bananas that are edible, but would have been wasted as a result of their perceived ripeness. Their mission is to eliminate food waste and support farmers who lose up to 20% of their yield because their bananas are not ‘perfect’. Started in Brazil the brand sources bananas from the region but is headquartered in the US.
Why: The brand and its offer align with people’s expectations of brands being sustainable and reducing food waste. The products are not only nutritious and convenient but the very model uses produce that would otherwise have been wasted, aligning with people’s values around the environment.
What: Caffe Sospeso (‘suspended coffee’) is an initiative from a tiny quarter of Naples, where consumers buy one coffee and pay for two, passing one on to the next visitor, who may be less well off.
Why: Social conscience increasingly plays a role in value judgments made by consumers. Brands or experiences that can enhance lifestyle by encouraging small, positive social actions will win.
What: Red Eye Louis’ Vodquila, going from strength to strength in the US market, recently launched in Australia and is set to roll out 1 litre bottles in 2016.
Why: Just as American consumers are forging unique identities for themselves by grafting cultures and styles, ‘vodquila’, amongst other new liquor mixes, fuses traditionally separate drinks to create an exciting, much talked-about product. The Red Eye Louis brand has recognised that ‘fusion’ drinking can be as popular as fusion cuisine.
What: Food inventor Charlie Harry Francis has come up with an Edible Mist Machine that extracts flavour out of foodstuffs and emits it as an edible mist that can be inhaled via a straw.
Why: This Edible Mist invention is being picked up by bars and restaurants as they have recognised its exciting appeal; especially for consumers who value the future-facing and experiential, yet may be calorie-conscious.
What: Coca – Cola has launched a new Coke- ON app which allows consumers to collect virtual stamps when drinks are purchased through new smartphone vending machines.
Why: This is an innovative take on the loyalty card experience, introducing a gamification element which adds value and excitement to the traditional loyalty scheme format.
What: Embrapa Brasil has developed an edible plastic film that can be produced from foods like spinach, papaya, guava and tomatoes.
Why: The product has the strength, texture, and protection capacity of a conventional film-paper, useful for: dissolvable soup sachets, guava paste sold in guava plastic, sushi rolled with veg films – doing away with needless packaging and meeting higher consumer expectations for sustainable packaged food.
What: Gym for Less is an app that has spread to all major Spanish cities, aimed at users who want access to gyms, swimming pools or spas without having to pay a fixed membership.
Why: Based on geo-localization, the user is shown all partner gyms around them, and can buy an access pass for €5 – the easiest and thriftiest solution for people who travel, avoiding wasted membership fees.
What: Soft drink brand Mountain Dew realized that there was a large community of skateboarders within their main target in Colombia, who had a unique set of needs and issues. In response, the brand customised their bottletops to offer skaters a way to screw and unscrew the wheels of their boards when they need fixing.
Why: By introducing a packaging update that offers a practical benefit, not just a new look, Mountain Dew establishes itself as a brand that knows what their consumers need and provides them new benefits free-of-charge.