He’s the general manager of Hawaiian Market.
The topic was supply chain interruptions in the COVID-19 era.
The interviewer asked for an example of the manager’s ability to switch suppliers for basic necessities.
“Easy”, he said.
“We switched from Gold Medal Flour to a brand no one knows of from Korea.
And nobody cares – because brand loyalty is dead.”
Seems to be true in my home these days.
White label store brand toilet paper replaces Charmin, when you can find any at all.
It’s the ultimate statement of commoditization.
The same commoditization we are warned about in wholesaling – wherein all products in an asset class/product category do essentially the same thing.
Only today, in this time, that is less true than ever.
Because your firm’s brand has you.
And, if you’re doing your job the way it’s meant to be done, and making the required adjustments to your practice today that need to be made, your advisors’ brand loyalty goes through the roof.
Brand loyalty is not dead.
Long live brand loyalty.
This post was originally published in the Wholesaler Masterminds Sunday Night Email.