How heritage brands can stay relevant

How heritage brands can stay relevant

Mr Jeffrey Law Lee Beng wondered why some Singapore brands do well overseas but not here ("Support S'pore brands"; May 5).

In a small, fast-changing domestic market like Singapore, which is flooded with innovative products, consumers are spoilt for choice. It is important for older home-grown brands to adapt to changing consumer tastes to stay relevant.

They cannot assume that just because they are "heritage names", their products will sell by themselves. They need to make their products different from others, and rely less on the loyalty of a handful of elderly consumers, whose numbers will only shrink over time.

Gone are the days when keeping a brand simple can win market share. More crucial now is to figure out what consumers want.

The younger generation is tech-savvy and checks out online reviews of products before deciding whether or not to purchase them.

Older brands must find ways to reach out to them and attract word-of-mouth recommendations. They must embrace technology and social media, which can be important marketing tools.

Francis Cheng

This article was published on May 15 in The Straits Times.

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