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Randall Rothenberg of IAB: The Direct Brand Economy is a Revolution
Manuela Walfenzao| 30 de agosto de 2018
Randal Rothenberg
In presenting The Rise of the 21st Century Brand Economy, IAB President and CEO Randall Rothenberg highlighted the importance of the direct brand economy to market leaders by bringing brands closer to consumers. He said that over the past few years, innovative brands that are part of a systematic change have taken the lead in market growth. IAB calls it the direct brands revolution. “In the US market, we have lived with the economy of indirect brands for hundreds of years. Brands had absolute control in their category by controlling each important function in their supply chain. But this growth came to a halt in the last few years, and in some cases has stopped altogether or even decreased,” the CEO of the Interactive Advertising Bureau said. He spoke of a revolution in the consumer economy sparked by the accelerated growth of digital channels. “Today, all growth in commerce takes place via digital channels, not in physical stores. Most new companies defined as direct-to-consumer brands are startups that are duplicating growth indexes thanks to their direct digital connections. Today we are seeing new hybrid formats of online and physical experiences. Omnichannel purchases are the new rule.” Rothenberg noted that for direct-to-consumer brands, the web is not just a sales channel, it is an essential part of the company. Being data-centered allows it to keep up with market trends and establish a much closer relationship with consumers. Storytelling is an essential part of their work – they can all produce content and experiences. “Latinos and African-Americans are investing all their energy in these new brands and business models. In this environment, discrimination and exclusion are much lower,” he concluded.
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