What are some real-world examples of the shift from Brand Age to Product Age?

The shift from the Brand Age to the Product Age has significant implications for consumer behavior. In the Brand Age, consumers often made purchasing decisions based on brand reputation and loyalty. However, in the Product Age, consumers are more likely to make decisions based on the quality, value, and reviews of individual products. This shift is facilitated by the internet and digital technologies, which provide consumers with easy access to product information and user reviews. As a result, consumers are less likely to pay premium prices for branded products and more likely to seek out products that offer the best value for money. This shift also means that advertising spending is likely to flow more towards digital platforms like Google and Facebook, which are better equipped to target consumers based on their specific product interests.

The Product Age presents several opportunities for businesses. Firstly, it allows businesses to focus on the quality and value of their products rather than relying on brand reputation. This can lead to increased customer satisfaction and loyalty. Secondly, it opens up opportunities for smaller, boutique businesses that may not have the brand recognition of larger companies but offer superior products. Thirdly, it shifts the power to consumers, who can now make informed decisions based on product reviews and recommendations. Lastly, it presents a significant opportunity for digital advertising platforms like Google and Facebook, which are predicted to hold a combined share of 61% of the digital ad market in 2021.