As the furniture industry reels from a dramatic drop in consumer demand, Lovesac overcame market headwinds to report 7.5% growth in revenue in fiscal year 2024, reaching $700 million from $651 million the previous year.
The biggest challenge brands face is standing out from the crowd.
In some companies, brand-building is the sole responsibility of the marketing team. The brand is seen as a consequence of advertising. However, this mode of thinking gets in the way. Every experience someone has in relation to a brand influences how they think or feel about it. The mind doesn’t discriminate between experiences curated by the marketing team and all other brand encounters. Customer experiences, for example, can be especially influential. They should all be...
Trust in traditional institutions has plummeted. Trust in corporations, government, and media are at all-time lows. And, of course, people still don’t trust advertising.
When companies are formed, the founders often have a clear reason for starting the business. This often defines what the brand stands for and shapes all the decision-making.
