Most people are willing to pay a lot of money for their favorite brands. Yes, it is a proven phenomenon. Most consumers would assume that famous brands are high-class and more reliable than their competitors.
However, the attitude of customers is now changing. Here are four reasons why people are giving up on famous brands.
1. People don’t want to become commercials.
You may not know this but you are actually an unpaid endorser of brands. You wear their logo every time you use their product, which is a free advertisement for them. After realizing this, some brands were criticized for their huge logos and started hiding them on clothes.
2. Customers don’t want to pay more.
A lot of retailers, even those that are well-known, have been closing down just because people have stopped buying stuff. People realized that there are so many cheap clothing out there, that wearing a branded item don’t seem to matter anymore.
Even billionaires Mark Zuckerberg and Steve Jobs wear regular clothes. Seeing them wearing mostly plain clothing, possibly unbranded ones, inspired a lot of people.
3. People realized that impressions are much more important than things.
Millennials have a bad reputation, but one thing that you should admire them about is the fact that they are pretty wise when it comes to their time and money. Modern society is tired of “things” and is now looking for impressions. Instead of buying unimportant stuff to impress other people, they use their money to travel and make memories with their loved ones or even just by themselves.
4. Customers realize that brands sell extra stuff to them.
Brands never really sell you just one thing. You purchase one item and then you’ll realize that you should buy extra stuff to experience the full potential of the product. Bottom line is that your intention was only to buy one thing, but you end up buying the whole set.
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