The FMCG industry is filled with brands selling the same products in similar environments. With various supermarkets laid out across a given city, this furthers the importance of creating and implementing a strong brand purpose — a company’s reason for existing beyond profit-making — throughout the in-store and online experience as a way of standing out among the competition.
A brand purpose is a company’s way of speaking to its target audience about what is important to them. A study shows that 63% of consumers prefer to buy goods and services from companies whose purpose reflects their values and beliefs. A company should allow its brand purpose to evolve with the times, being sure to make a clear stance that shows consumers it stands with them on what is important.
Sainsbury’s, the second-largest supermarket chain in the U.K., is a prime example of the importance of a company’s ability and willingness to adapt and evolve its brand purpose. It found its success by using an effective marketing strategy that involved a shift in its brand positioning. This supermarket chain changed its slogan from “Live Well for Less” to “Helping Everyone Eat Better” when it saw the importance of health and wellness to its target consumer.