In a recent conversation with a well-established brand, they quickly dismissed new emerging players as too niche and lacking in reach and numbers.
Numbers, or reach, is a collective product of several factors in a business, with branding being only one of them. However, branding’s key contribution to this complex matrix is building perception and cementing a connection with the audience. With accessible platforms and new models of commerce, small brands have entered the arena and are now worthy contenders for the consumer’s mindshare. And that is why it pays to keep a watch on the competitive landscape regardless of scale.
Illustration: Aayushi Katare
Smaller brands frequently target niche audiences that bigger brands might overlook. Understanding these markets can help identify new opportunities for future growth and diversification. Niche, new brands often have more intimate relationships with their limited customer base, offering a sharp and real glimpse into what moves them. Smaller brands also have the advantage of nimbleness, allowing them to experiment with new ideas and products. They are quick to respond to changes, providing a rich ringside view of their ‘experiments’—both successes and failures.
What stands out for me, most of all, is the pluck of new players to create a fresh imagination of an industry. Whether it is a function of point-of-view or differentiation, new brands that step away from the established codes of an industry introduce new codes and change consumer expectations. The modern sari zeitgeist, fitness as self-love, ethical sourcing, luggage as style and clean beauty—these have all been products of conversations seeded by smaller challenger brands that are fast becoming part of the mainstream dialogue. In these and many other instances, challenger brands have introduced new points-of-view in established industries, setting a completely new range of consumer expectations. This often makes bigger brands look irrelevant or out-of-step with today’s consumer.
In a world where the opportunity for storytelling is open to all through accessible platforms, the playing field has been levelled to a certain extent for big and small brands. The real battle is one for attention and deeper connections—a game that’s played well by small, hungry brands.
