Strategy Briefing

Global Nostalgia Marketing

45 pages, Aug 2012

US$2,600

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In an uncertain economic climate, consumers view the past through rose-tinted glasses and are ready to spend on any product or service that can help them recreate the feelings of warmth and security they felt during happier times. At the same time, for the young, retro is seen as cool. This new global report identifies the ways in which companies are exploiting the nostalgia trend, using emotional response to form a bond with consumers and secure their trust and future loyalty.

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Overview

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Demand factors

Nostalgia - defined as a sentimental yearning for the past or longing for an idealised world - can be exploited by marketers and enable them to form an emotional bond with consumers.

Studies confirm that most consumers look back on the past with rose-tinted glasses and are ready to spend on any product that can help them recreate the feelings of warmth and security they felt during happier times.

This is especially true during periods of economic or political uncertainty, such as after the 9/11 terrorist attacks in the US, during the current global recession or following the 2011 earthquake and nuclear power disaster in Japan.

For some - especially those in the younger age groups - nostalgia is more about a desire for individuality and originality than a yearning for bygone times. The term “retro” is applied to modern products that use an old-style design to appeal to those seeking the cool or fun factor.

Supply factors

The use of nostalgia in marketing strategies ranges from the development of new products with a vintage feel to the launch of advertising campaigns using familiar past themes or evoking old memories of bygone days.

Retro marketing - sometimes known as flashback branding - plays on nostalgia to evoke an emotional response from the consumer. Techniques include the use of logos, images, songs and jingles, symbols or old-style font types to create an old feel.

Lacklustre economy will fuel nostalgia trend

Nostalgia will always sell, because it makes people feel good. The trend for all things retro is unlikely to lose momentum in the near future, while old-style themes will continue to be used as a marketing tool - especially while the economy remains in the doldrums.

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Global Nostalgia Marketing

EXECUTIVE SUMMARY

Demand factors

Supply factors

Summary 1 Types of Nostalgia Marketing

The role of the media

Impact on retail and service industries

Outlook

THE PSYCHOLOGY BEHIND NOSTALGIA

Happiness is through rose-tinted glasses

Creating an emotional link with consumers

Retro is cool

The green factor

The need for comfort and familiarity

Trust is key in hard times
Hard-hit consumers seek solace in nostalgia
Short-term economic prospects are poor
Continued growth in emerging markets
Table 1 Real GDP Growth by Country 2007-2012
Comfort foods in demand

Backlash against fast living

The perception that life used to be better
Mixed feelings for Communist nostalgia
Mid-lifers most affected
The young feel the pressure
Happy memories for China’s ‘80s generation
Chart 1 % Respondents Agreeing with the Statement “I Feel Under Constant Pressure to Get Things Done”
Chart 2 % Respondents Agreeing with the Statement “Life Used to be Simpler and Better”
The impact of technological progress
Chart 3 % Respondents Agreeing with the Statement “I Find I am Looking For Ways to Simplify My Life”

TYPES OF NOSTALGIA MARKETING

A range of techniques

Keeping old brands relevant

Leveraging heritage
Heinz 57 - still going strong
Kraft buys into the past
Evoking times of glory
Combining old with new
Summary 2 Brands with More Than 100 Years History in 2012
Traditional toys and games remain popular
Board games hold their own
Table 2 Sales of Traditional Toys and Games 2006/2011

Bringing back old brands

Retro trainers - back by popular demand
Foods from the past bring comfort to consumers
Demand for authenticity drives retro sales
In with the old
Vespa has success with India relaunch
Toy companies appeal to parents with classic characters

Retro packaging and promotions

Celebrating historic events
Celebrating brand milestones
Old-school packaging - limited editions
Summary 3 Special Edition Nostalgia Products 2008-2012
Leveraging old campaigns
Fast food chains introduce blasts from the past
Using nostalgia in new commercials
Nostalgia hits China’s ‘80s generation

Creating a brand back story

Retro influence in new product development

Food and drink
Retro chic
Vintage sports shoes are all the rage
Retail sales stay strong throughout recession
Table 3 Sales of Men’s Sports Footwear 2006/2011
1950s-inspired kitchens
Retro technology
Vinyl makes a comeback
Gaming

THE ROLE OF THE MEDIA

Retro programming provides feel-good factor
The power of music
The re-release of old films
New programming based on bygone eras

The internet

Shared memories
Exchanging tips and clips
Interactive nostalgia campaigns
Encouraging fan participation

IMPACT ON RETAIL AND SERVICE INDUSTRIES

Retail

Destination stores add excitement to shopping experience
Old-fashioned sweet shops reappear in the UK...
...while Past Times chain folds
The boom in retro chic
Traditional markets make a comeback in US

Leisure

Old-fashioned entertainment

Foodservice

Fostering a homely image
McDonald's celebrates its history with 1955 Burger launch
Backlash against modern chains in Southeast Asia

Travel and tourism

Retro hotels are in vogue
Old-style transport makes a comeback

IMPLICATIONS AND OUTLOOK

Lacklustre economy will fuel nostalgia trend...

...but will continue to dampen overall spending

Table 4 Forecast Real GDP Growth by Country 2011-2016

Living longer means more time to reminisce

Technology: Going back to basics

Demand for style and simplicity
Potential for retro games
Table 5 Forecast Sales of Video Games by Type 2011/2016

Opportunities in emerging markets

Effective ways to exploit nostalgia

Authenticity and trust will be key to future success
Old products with a new twist
Chart 4 % Respondents Agreeing with the Statement “I Like to Try New Products and Services”
Finding the right music
Use of the internet
Achieving the right balance
Summary 4 Opportunities and Challenges in Nostalgia Marketing

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Strategy Briefing

Global Nostalgia Marketing

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About This Report

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Overview

Why buy this report?

Demand factors

Supply factors

Lacklustre economy will fuel nostalgia trend

Want to find out more about this report?

Table of Contents

Global Nostalgia Marketing

EXECUTIVE SUMMARY

Demand factors

Supply factors

The role of the media

Impact on retail and service industries

Outlook

THE PSYCHOLOGY BEHIND NOSTALGIA

Happiness is through rose-tinted glasses

Creating an emotional link with consumers

Retro is cool

The green factor

The need for comfort and familiarity

Backlash against fast living

TYPES OF NOSTALGIA MARKETING

A range of techniques

Keeping old brands relevant

Bringing back old brands

Retro packaging and promotions

Creating a brand back story

Retro influence in new product development

THE ROLE OF THE MEDIA

The internet

IMPACT ON RETAIL AND SERVICE INDUSTRIES

Retail

Leisure

Foodservice

Travel and tourism

IMPLICATIONS AND OUTLOOK

Lacklustre economy will fuel nostalgia trend...

...but will continue to dampen overall spending

Living longer means more time to reminisce

Technology: Going back to basics

Opportunities in emerging markets

Effective ways to exploit nostalgia

Why buy this report?

Want to find out more about this report?

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