{"id":961,"date":"2018-03-28T00:00:00","date_gmt":"2018-03-27T23:00:00","guid":{"rendered":"https:\/\/brand-genetics.test\/the-new-premium-redefining-value-in-the-experience-economy\/"},"modified":"2019-11-19T16:33:03","modified_gmt":"2019-11-19T16:33:03","slug":"the-new-premium-redefining-value-in-the-experience-economy","status":"publish","type":"post","link":"https:\/\/brandgenetics.com\/pt\/the-new-premium-redefining-value-in-the-experience-economy\/","title":{"rendered":"The New Premium: Redefining Value in the Experience Economy"},"content":{"rendered":"<p>Walking down any high-street or supermarket grocery aisle it\u2019s not hard to see how dramatically the world of branding and advertising has changed over the last few decades. The never-ending sea of new products, brands, colours, and categories makes it hard to miss. However nowhere is this shift more striking than in the premium space.<\/p>\n<p>That was the headline of \u2018The New Premium: Reinvented and Decoded,\u2019 brand agency 1HQ\u2019s recent event hosted in the apt setting of London\u2019s Museum of Brands. \u00a0The value equation, argues 1HQ, is changing \u2013 both in FMCG and across the broader consumer landscape. \u00a0Price is no longer the determining factor of value, imbuing intangible benefits that convey status or celebrity endorsed aspiration. \u00a0Rather, brand value comes from a combination of uniqueness, meaningfulness and consumer engagement. \u00a0Whereas the top tier was once dominated by celebrity endorsements and luxury appeal, the current landscape is focused on authenticity, individuality, and storytelling.<\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4884 aligncenter\" src=\"\/wp-content\/uploads\/2019\/11\/george-what-else.jpg\" alt=\"\" width=\"677\" height=\"444\" \/><\/strong><\/p>\n<p style=\"text-align: center;\"><strong><em>Nespresso advertisement featuring George Clooney<\/em><\/strong><\/p>\n<p>Through a mainly semiotic-driven lens, 1HQ shared their view on this changing premium world. \u00a0A mapping exercise explored past, present, and future codes (both verbal and visual) in the FMCG space, and 8 key emergent codes of premium were identified, including playful honesty, sensorial adventure, and genuine heritage. While interesting individually, the underlying theme throughout all of these new codes is that premium is no longer about luxury and exclusivity \u2013 it\u2019s about relevance and meaning. \u00a0<strong>The value that consumers are looking for is not simply name and prestige, but quality, story, and experience.<\/strong><\/p>\n<p><strong><a href=\"http:\/\/brandgenetics.preview.uk.com\/wp-content\/uploads\/2018\/03\/PastedGraphic-1.tiff\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4877 aligncenter\" src=\"\/wp-content\/uploads\/2019\/11\/Picture1.png\" alt=\"\" width=\"672\" height=\"417\" \/><\/a><\/strong><\/p>\n<p style=\"text-align: center;\"><strong><em>Carsberg&#8217;s K\u00f8benhavn Collection <\/em><\/strong><\/p>\n<p>Several brands are leading the charge on this.\u00a0 For example, Carlsberg\u2019s <a href=\"https:\/\/www.foodbev.com\/news\/carlsberg-unveils-limited-edition-packaging-amid-flagship-relaunch\/\">K\u00f8benhavn Collection<\/a> reinvents a heritage brand while celebrating local roots to deliver uniqueness and excitement. Similarly, <a href=\"https:\/\/news.samsung.com\/global\/samsung-837-opens-its-doors-in-the-heart-of-nyc-marking-the-first-of-its-kind-cultural-destination-digital-playground-and-marketing-center-of-excellence\">Samsung\u2019s 837<\/a> space in NYC transforms a physical space into an interactive playground, where nothing is for sale but consumers are invited to play, experiment, and experience the Samsung brand first-hand. Their added value \u2013 in terms of quality, engagement, uniqueness and simplicity \u2013 makes these brand experiences inspiring, desirable, and ultimately <em>premium<\/em>.<\/p>\n<p><strong>But have things <u>really<\/u> changed that much?<\/strong><\/p>\n<p>It\u2019s always good to see the world from another perspective and while we support 1HQ\u2019s observations about the evolving landscape of premium, we think it is important to take an even deeper look at this shift in premium \u2013 seeking to understand not just <em>how<\/em> the semiotics are changing, but <em>why<\/em>.\u00a0 Are the human motivations for premium products changing or just what we consider a premium product to be?<\/p>\n<p>Society has transformed dramatically and what people value today is quite different than what people valued 10, 20, 50 years ago. \u00a0Today, people place a higher value on knowledge, authenticity, and social responsibility than they do on the price tag. Therefore, brands that are rooted in real people, real stories, and real purpose are seen as bigger indicators of \u2018status\u2019 than superficial celebrity endorsements and the like \u2013 see <a href=\"http:\/\/www.titosvodka.com\/\">Tito\u2019s Vodka<\/a>, <a href=\"https:\/\/www.warbyparker.com\/\">Warby Parker<\/a>, and <a href=\"http:\/\/www.toms.co.uk\/\">Tom\u2019s<\/a> as prime examples.<\/p>\n<p><strong><a href=\"http:\/\/brandgenetics.preview.uk.com\/wp-content\/uploads\/2018\/03\/PastedGraphic-1.tiff\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4879 aligncenter\" src=\"\/wp-content\/uploads\/2019\/11\/samsung-837.jpg\" alt=\"\" width=\"695\" height=\"391\" \/><\/a><\/strong><\/p>\n<p style=\"text-align: center;\"><strong><em><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">Samsung837 in New York<\/span><\/em><\/strong><\/p>\n<p><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">However, the desire for status \u2013 one of the most inherently human motivations of social interaction \u2013 is still an incredibly important driver of premium.\u00a0 What has changed is how status is conveyed and communicated. \u00a0Tribalism and \u2018badge value\u2019 are just as important now as they were 20 years ago. But today, badge value is less about explicit, conspicuous branding, and more about membership and knowledge, connecting at a deeper level to the brand and others in the group. While the way in which brands communicate themselves to the world has changed, the human drivers for engaging with \u2018premium\u2019 brands and products have not changed.<\/span><\/p>\n<p><strong>BG takeaway: Jessie J was right \u2013 it\u2019s not about the money!<\/strong><\/p>\n<p>Consumers increasingly place a premium on brands that are relevant to their lives, purposeful in their design, and subscribe to high quality standards, <em>regardless of price<\/em>. When thinking about the \u2018New Premium\u2019, its semiotics, and its relevance to your brand, it\u2019s essential to consider the broader context of this premium shift \u2013 understanding the psychology of premium to understand not just <em>how<\/em> the world of premium is changing, but <em>why<\/em>.<\/p>\n<p>In our constantly evolving world, understanding this will be key to creating brands and experiences that speak not just to consumers, but to people, to <u>humans<\/u>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Walking down any high-street or supermarket grocery aisle it\u2019s not hard to see how dramatically the world of branding and advertising has changed over the last few decades. The never-ending sea of new products, brands, colours, and categories makes it hard to miss. However nowhere is this shift more striking than in the premium space. [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[177,178,179,180,181,17],"class_list":["post-961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forward-thinking","tag-brand-experience","tag-human-behavior","tag-human-motivation","tag-premium","tag-semiotics","tag-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The New Premium: Redefining Value in the Experience Economy - Brand Genetics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/brandgenetics.com\/pt\/the-new-premium-redefining-value-in-the-experience-economy\/\" \/>\n<meta property=\"og:locale\" content=\"pt_BR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The New Premium: Redefining Value in the Experience Economy - Brand Genetics\" \/>\n<meta property=\"og:description\" content=\"Walking down any high-street or supermarket grocery aisle it\u2019s not hard to see how dramatically the world of branding and advertising has changed over the last few decades. 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