YETI coolers have become a recent status symbol in the United States, as their high-tech coolers range from $200-$1,300. Although there are other brands like Coleman and Igloo who make comparable sized coolers with similar technology to keep temperature low for around $40, why do consumers still choose YETI over them?
Similar to Hydroflasks and Patagonia, YETI competes not only with the quality of the product they’re selling, but also by buying the loyalty and trust of their consumers. Quality has become non-negotiables; everyone has the technology. But these brands are selling dreams – they create an aspiration on what you could do with the cooler, not what you’ll actually be doing.
This high loyalty marketing is becoming the powerhouse of moving consumers’ morals and beliefs. Consumers are less tied to the products, but consider what the brand stands for as more important – like we’ve seen with Nike with Kaepernick, and Patagonia with environmentally awareness, etc.
App downloading is the start of showing loyalty. However, it cannot end here. How would Jack consistently earn consumers’ trust especially in the QSR realm, where consumers have high cross-shopping tendencies and low brand loyalty? Our challenge is to create that halo effect for overall brand trust beyond each product.
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