Young consumers buying into brand narratives first

New Delhi: Many young consumers prefer to base their buying decisions on brand narratives first and products second, according to new-age brand founders.

In the age of sustainability and brand connect, founders of D2C and new-age companies feel their stories convince consumers to repeat purchases, but others feel that it is the product that convinces the consumer because it solves a problem for them. Shark Tank fame oral care brand Perfora’s founder Jatan Bawa said that people buy into the narrative of a young brand that is challenging the status quo, unlike legacy brands whose founders or brand-building story is not well-known.

“The consumers of today buy into brand narrative first and product second, because they’re looking for transparency, and to resonate with the story of brands that they can be part of. With legacy brands, the problem is that you don’t know who started them. But most people who are consumers of young brands know the founder and their stories because the founders are also out there engaging with the customers through a podcast or a talk.

People buy into that narrative that I want to support a young brand trying to challenge the status quo in a large market with a product that’s fundamentally better than what exists.” Femtech startup Sirona’s co-founder and angel investor Deep Bajaj feels people buy brands for the promises they communicate, and startups that can’t advertise at a mass scale can share their stories with the new generation.

“Everyone loves stories. People buy brands for the promises they make through their communication. Brands earlier used to earn customers by using advertising at mass scale, For startups, this isn’t a possibility but they can now share their story with millennials or digital consumers, who love being taken care of.”