Management consultants like to use the jargon ‘reinvent yourself’. This could mean a dozen things, such as adopting a new accounting system, changing the distribution strategy or even rearranging the organisational structure. But most often, reinvention is about providing a higher level of appeal to customers, because in the final count that is really the only thing that truly matters. Some companies have done an incredible job here, whilst others have faltered. The winners, either know what their customers want or, are convincing enough with their offerings on what they ought to have. Nevertheless, they never forget who their customers are and ensure there is no mismatch with expectations. The reinvention of brands is necessary to stay relevant, perhaps to a new generation of consumers.

Nike, previously known for performance-focused athletic gear, acknowledged the impact of streetwear culture among younger consumers. It launched alliances with popular brands like Off-White and Travis Scott, were introduced to a new audience and positioned the brand as a funky alternative. Diversity and inclusivity, in its marketing campaigns, resonated powerfully. With newer entrants in the market place, Starbucks recognised the need to attract younger consumers, who prioritise sustainability. The firm made a promise to ethically source its coffee beans, revamped its store designs to offer more inviting and Instagram-worthy spaces, and introduced variants to cater to a desire for experiential consumption. It worked.

Dyson reinvented its brand to appeal to younger consumers, attracted by clever technology and lustrous designs. It expanded its product offerings to include air purifiers, bladeless fans and hair care devices, leveraging its reputation for innovation and quality. Dyson’s uncluttered aesthetic and engineering excellence, echoed with design-conscious millennials and Gen Z consumers, seeking functional yet stylish products. An emphasis on sustainability – recyclable packaging and energy efficient appliances – further heightened its charm.

While Apple has always been synonymous with innovation, its commitment to privacy and security aligns strongly with the apprehensions of younger generations, in building trust and loyalty. But assurances of privacy need to be backed by action, even under extreme pressures. Tim Cook’s testimony, at the US Senate in 2016, regarding encryption stated that Apple would never unlock iPhones to protect user data, despite the demand of security agencies. Mr Cook was prepared to go to jail rather than compromise on his firm’s principles. This stance reflects Apple's philosophy of putting the interests of its customers first.

If there is a common thread, in the reinvention and response of these differing companies, it is hard to pinpoint. Still, all of them recognise the changing preferences of their customers and have been able to adapt their products to suit them. Attributes such as diversity, sustainability, ethical practices, uncluttered aesthetics, engineering excellence and holding on to principles have been winners.

Products must provide the perception of unique experiences, even if they serve a need that may have, for decades, been served differently. A fine malt whiskey should taste the same, whether offered in a metal cup or in a fine Bavarian Nachtmann crystal glass. Somehow, the crystal enhances the experience, and perhaps even the flavour! Gen Z relate differently to issues than their predecessors, and desire experiences which are distinctive to the ones preferred by an older generation. The trick is to crack this correctly.