Hit and Miss Examples of New Product Lines
When I talk about a “Brand Extension” or “Brand Stretch,” I’m referring to a new product line that is launched into a new category for the brand. The extension could be into an adjacent category that the current brand loyalist uses, or it could be a new category that is synergistic with the brand’s promise but appeals to a new set of buyers.
One important extension can be into categories that are especially relevant to women.
The largest missed opportunity for most brands is the female buyer.
Take these 3 big statistics into consideration before your next brand strategy meeting and bring a real revenue drive to the table:
- Women are the primary decision-makers on over 60% of consumer spending.
- Women are 3x as big as all other minority groups combined.
- Women manage 85% of all checking accounts and 75% of family finances.
I’ve been regularly sharing some fun real-world examples on my social lately and thought a round-up article would be useful and fun for my clients.
Here are some examples of brands that have extended further to connect with the female audience – what do you think, hit or miss?
Best Buy – Skin Care
I personally get it, Best Buy and tech gadgets, but would you feel comfortable shopping for skin care products at an electronics store? They are stretching beyond tech and offering body care products, wipes, facial cleansers, and more.
They might need to rethink the type of store personnel they hire. Perhaps a Geek Squad extension… Cheek Squad! What do you think?
Peeps – Nail Polish
Peeps has a big nostalgia factor, but I also think this was a timely and well-planned release for pastel colors in April. I think this would be particularly well-received amongst the younger female demographic. What do you think? Is this confectionary nail polish a hit or miss?
Mountain Dew – Hard Seltzer
The hard seltzer market has exploded in popularity thanks to the ubiquitous White Claw trend. We’re seeing interesting pivots such as Pepsi Co.’s foray into hard seltzer with Mtn Dew.
It sounds like another version of Four Loko to me, but perhaps these trends are sticking around?
Yeti – Fashion
When you think of Yeti, extremely durable and high-end coolers probably come to mind. The cooler company is making a foray into fashion with apparel for women among other brand stretches. Will the clothing have the same penchant for quality and become a favorite among women outdoors enthusiasts?
This popular brand name has also come out with stainless steel drinkware and most recently a line of bicycles for women dubbed the Yeti Betis.
Will the rugged cooler company become known for outdoor apparel and find a fit with the Mountain Hardware and North Face crowd?
Velveeta – Nail Polish
I know there are some die-hard Velveeta fans out there, but are cheese-scented colors and “nails as smooth as Velveeta cheese” going a little too far? An interesting brand stretch to say the least!
We can always speculate based on experience and personal opinion but only time will tell if these products will find a foothold with their (hopeful) new customers.
Have you seen any surprising brand extensions or stretches lately? I’d love to hear about them, send me a message, and let’s strategize for your next product line!