A poll of 501 Americans by Visual Objects sheds light on how consumers react to brand collaborations and co-branding.
71% of consumers prefer it when multiple businesses collaborate to offer a unique product, as per the report. While customers are drawn to co-branded initiatives, participating brands must ensure that their core values are in sync with each other to avoid a negative reputation.
Of those polled, 61% indicated they avoid buying products with negative brand reputations on occasion. Further, 41% of consumers factor in a brand’s mission and values in their purchasing decisions.
Terri Rockovich, co-founder and CEO of kibble brand, Jinx, notes, brand partnerships should be “complementing each other’s offerings with something unique.” Appeal to loyal customers, as 43% of are willing to try new co-branded products from brands they already enjoy.
[3 minute read]