Elastic brands are more resilient than others, and they command greater loyalty in tough times thanks to the brand equity they’ve developed and invested in. As we continue to navigate economic and market turbulence, a brand’s ability to be resilient is critical – and this includes how it protects its reputation and maintains loyal customers’ trust. That loyalty is built on the brand's ability to deliver quality products or services and uphold its promises. Brands with a loyal base can navigate downturns –   research shows brands that continue to innovate grow seven times faster than competitors. 

In tough times, thinking outside the square is a clever stretch strategy 

You need the right research, insights, and analytics as the foundation of innovation, pricing, and marketing. One illustration is car tyre manufacturer Michelin. Due to the lack of cars in France in the late 1800s, Michelin built a guide to help boost car sales and encourage drivers to plan their trips. Their guide, featuring maps, petrol station locations, and instructions for changing a tire, was the precursor to the iconic Michelin Guide – a restaurant resource now known around the globe. 

Affordability is bringing brand relevance to uncertain economic times 

This is where quality is linked to value as it becomes more of a mental stretch to pay higher prices for a brand. By repositioning affordability and buying a name in a price point they can overcome while not compromising the brand value is a smart stretch. For example, Absolut caught onto the celebrity vodka pasta sauce trend, creating value and excitement for consumers while maintaining brand integrity by collaborating with Heinz. This once limited edition has been revived due to overwhelming demand by consumers all around the world. 

Finding new ways to be fashionable 

Many categories have required brands to innovate to stay relevant and affordable in the amid economic challenges, connect with different generational trends, and address growing attention to sustainability. Fashion brands must face up to this trio of objectives as consumers trade down on their clothing expenditures, fast fashion slips in favour, and Gen Z tries to do good in the world. UK bakery chain Greggs married fashion retailer Primark with a range of hoodies, t-shirts, and boxer shorts featuring sausage roll designs – the Greggs signature. The line was an instant sell-out, built on shared values of humour and nostalgia. 

Stretching into new products or categories can accelerate demand in a competitive landscape.  Circana’s comprehensive strategies ultimately drive growth and loyalty by delivering real-time analytics so you can measure and accelerate demand to stretch your brand.  

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