Bye, Bye Brandless
Image Source: PYMNTS.com
Just two and a half years after its launch, direct-to-consumer (DTC) start-up Brandless recently closed its doors (and eComm shopping carts) for good. Brandless entered the consumer packaged goods landscape challenging the norm with a simple concept: stylish, sustainable and ultra-affordable food, beauty and home products without the hefty price tag of their competitors. Despite low prices and packaging fit for an Instagram feed, Brandless couldn’t survive.
In theory, Brandless was not drastically different from other DTC brands. The concept easily earned the attention of investor SoftBank Vision Fund and challenged the norm of a traditional industry. What was missing was less tangible – the underlying feeling of goodwill a brand creates for consumers by sharing a look into their unique brand character.
Since the news broke, the business world is buzzing about the closure, citing rapid growth and low profitability as potential causes. Marketers are asking another question – can a brand really be brandless?
In today’s landscape where “the Instagram feed eats first” you may think that beautiful millennial pink packaging may be enough to drive consumers to buy. The reality is that purchasing decisions are not made on quality or aesthetics alone. If the closure of Brandless teaches us anything, it’s that consumers are willing to shell out the cash for brands that give them stories and experiences they can get behind.
Posted by Monica