From Old and Outdated to New and Innovative: The Relaunch of Sunsetting Brand

With Gen Zers (born 1996–2012) entering into adulthood, Millennials & Gen Zers will  make up half of Asia Pacific consumers by 2025. As these young people purchasing power, market size, and family influence increase, it is vital for marketers to make brands relevant to them, particularly old or sunsetting brands.

Making brands relevant to young people can be a challenging task, but it's possible with the right approach. Here are some thoughts on how to make an old brand relevant to these cohorts:

Understand your target audience: First, you need to understand what young people are interested in. Conduct market research to identify their needs, preferences, and behavior. In a broad conclusion, young people rely on social media but are thoughtful about how they engage with it. They want it all—and are used to getting it.

They prefer brands that show their personality and uniqueness but that are also well known enough to be recognized. They are greatly influenced in their brand selection by video content. They want to be seen as environmentally conscious, but they often don’t want to pay for this.

“As these young people purchasing power, market size, and family influence increase, it is vital for marketers to make brands relevant to them, particularly old or sunsetting brands.”

Rebranding: Consider rebranding the product to make it more modern and appealing to young people. From logo, packaging design, marketing collaterals, and content pieces, to make it more visually appealing and engaging.

Social media & Video Content: Use social media platforms like Instagram, TikTok and  YouTube to showcase your brand in a fun and creative way. Across APAC, almost a third of Gen Zers while millennials (22 percent) spend six hours or longer a day on their phones. What could be a better way than videos on social media to reach out to young people

Collaborate with influencers: Partnering with brand-fitting influencers or social media personalities who have a large following of young people can help you reach a wider audience. Some influencers will have hundreds of thousands (if not millions) of followers. But many only have 10,000 followers, less in some cases. Yet, they will have developed a reputation for being the experts in their field. They are the go-to people who provide the answers to people's questions. So, their audience care about their opinions.

New products with the right quality and price: Introduce new products or product improvement that are relevant to young people's interests and needs. This could be  anything from adding new flavour, new packaging, or new way of consumption. Young people’s high digital literacy and easy access to information enable them to pick and choose to ensure that they are spending their money on what they really want. Brands need to understand which features these young consumers are willing to pay for.

Provide a personalized experience: Young people prefer brands that show their personality and uniqueness but that are also well known enough to be recognized. Con- sider offering customizable options to your product to give them the freedom to create a product that suits their needs and preferences. This will help to balance achiev ing popularity so that they are widely recognized while also maintaining a sense of relevance and distinctness that connects with younger consumers.

Incorporate sustainability: Young people are increasingly interested in sustainability and eco-friendliness. Consider incorporating sustainable practices and materials into your brand to appeal to environmentally-conscious young consumers. There is a strong correlation between the aspiration for sustainable consumption and the desire to be “on trend.” Those willing to pay more for green products also tended to be more conscious of brands in general. This suggests that buying and using environ- mentally friendly products and having a green mindset are associated with social sta tus in the minds of young people.

Brands need to be both agile and stable, social-media savvy, environmentally sound and able to tell a compelling story. It’s complicated, but as young people’s affluence and influence rises, it’s well worth the effort.