I find this adjustment long overdue as countless brands have done a great deal to differentiate themselves by trying to create perceived differences that are not always tied to tangible customer value. Too many brands have tried to stand out merely through visual identity, fancy packaging and flashy or intrusive advertising. Now that consumers are cutting back their spending they are looking for real differences in the value they receive from products.
Those brands that have created their brand propositions on delivering real value should hold up well while those "me too" brands based on lesser differentiation will soon fade away.
When we take ourselves off autopilot and pause to think about the brand choices we make we reevaluate the brands in our decision set and rethink what they mean to us. Those that don't stand for much in the way of tangible benefits will be excluded from our purchase decisions. It is as simple as that.
