Shifting Priorities | F50 Post II

Foremost 50 digital-native brands attribute their high growth to having a very compelling consumer value proposition. These brands are, by definition, really dialed into not only what consumers want but also how and why they shop. A review of our 4th annual Foremost 50 List, gives an insight into the rising consumer trends that these brands are responding to.

Better for You – Consumers are looking for better performance from the everyday things they buy. They are not satisfied with the status quo of options that have been available to them. Brands are responding with products that solve problems in a unique way or provide high performance at a more affordable price. Take, for example, K18 Hair creates hair care products formulated with the patented K18Peptide, a molecular breakthrough clinically proven to reverse hair damage in just 4 minutes. Another example of a brand mastering product innovation is Made In, A premium kitchen brand creating chef-driven tools for the modern cook at a not so premium price. 2021 trends show cutting edge brands that create cutting edge products are always key to consumers.

Better for the Community – With 2021 bringing so many changes and social movements, we see an increase in social consciousness among consumers. Consumers want to buy from brands that are not just in it for the sake of selling products. Two of our F50 brands stand out in this category: Madhappy, a company that creates products that drive conversation around mental health, and Parade, an inclusive underwear brand. Consumers want to spend money on brands that show the same values, support the same causes as them and help build a stronger community.

Better for the Planet – One of the biggest trends we have seen recently is the rise of sustainability. With global warming on the horizon, consumers want to invest in products that at the very least have a low environmental footprint. Some are going a step further and buying from brands that are trying to reverse some of the damage we have already caused. As a result, more and more brands are taking a stance on sustainability and environmentalism. One of our Foremost 50 honorees, Blueland, creates eco-friendly cleaning products that help end single-use plastic. Another F50 honoree, PANGAIA, is a materials science company who is on a mission to save our environment by creating essential products from innovative tech and bio-engineered materials.

In Better Company – With consumers shifting their focus and money on brands that match their wants and needs, brands need to shift their priorities to keep up. It is important to note that the brands that are currently thriving have initiatives that tie into sustainability, product innovation, and social responsibility. Not only would some of these initiatives help the consumer, the environment, or community, but they also help create better work environments and help retain talent

Finally, one of the key components of evolving brand-consumer relationships is trust. Consumers want to buy from brands that they can trust to deliver on the brand promise. But even before they shop with new brands they need to know that they can trust the buyer-seller relationship. According to Amazon Pay, “Before consumers try a new brand they need to make sure that it will have a seamless, trustworthy and reliable shopping experience. Over the years, Amazon has built a base of millions of satisfied customers by being responsive to their concerns and acting quickly to resolve them. We extend this valuable customer trust to merchants like you who are using Amazon Pay services through the Amazon Pay A-to-Z Guarantee, which provides customers an opportunity to obtain full reimbursement for their purchase or cancel their authorized payment if they are not satisfied with a purchase made on a third-party site using Amazon Pay. For many customers, seeing the Amazon brand at checkout along with the A-to-Z guarantee signals a trusted shopping experience. What’s more, the Payment Protection Policy provides businesses with peace of mind by helping protect them against chargeback disputes, bad debt, and other sources of buyer-seller tension to promote healthier relationships with their customers. Coupled with the latest advanced fraud protection and machine learning technology used on the Amazon.com retail site, Amazon Pay equips businesses with the innovations needed to stay ahead of emerging eCommerce security challenges.”

To learn more, join us at The Foremost 50 Forum on March 22nd: https://the-lead.co/the-foremost-50-forum/