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Why brands are rebranding as the pandemic dust begins to settle

By Charles Cheung, General manager

April 25, 2022 | 7 min read

Charles Cheung, general manager for Carma Asia reveals four key trends as the industry prepares for a post-Covid world.

Trends

Earlier this month, Klook announced its new brand identity / Pixabay

As organizations emerged from volatility and headwinds over the past two years, many brands are adapting to new conditions, social norms, and consumer attitudes. While those who have pivoted their business models during the business slowdown saw the need to have the changes reflected in their branding, many others are taking steps to reset and realign their identity to be relevant in a post-pandemic world.

For example, in January, the AirAsia Group announced a rebrand as Capital A to reflect its transformation from an airline into a one-stop digital travel and lifestyle services group. Elsewhere, global corporate services companies such as Globaleye and SOLAS also announced their refreshed brand positioning. As the dust settles on the pandemic-borne uncertainty, this trend looks set to continue.

Drawing from Carma's data, there are more than 1000 online media reports in Singapore, Malaysia, and Hong Kong mentioning rebranding, just in the first quarter of the year alone. As we delved deeper into the data, we uncovered the following trends that are driving these rebranding conversations.

Established consumer brands are revamping their looks to cater to young and modern affluence

Modern consumers have high expectations; they are looking for immersive experiences, buying from brands whose values they resonate with. While rebranding is a massive undertaking, what we are seeing is an uptick in established consumer brands optimizing their positioning, and updating themselves to reach out to old and new demographics alike.

“As a brand, you have to constantly reinvent yourself to stay relevant to customers,” according to Daniel Grieder who joined Hugo Boss last year as chief executive and began to steer the clothing brand towards the more digitally wired millennial and Gen Z consumers - a shift in which the company had not seen in more than 50 years.

AB InBev, the largest brewer in the world, also unveiled a new visual brand identity aimed to reflect the brewer's new global purpose. Their new purpose "We dream big to create a future with more cheers" creates a corporate brand identity that can play a larger role in the experience, communications landscape, and brand expression.

Even a men's skincare brand, Lab Series emerged with its first major rebrand in 30 years to cater to a new generation, urging men to embrace self-care and confidence. These are just a few examples of established brands listening to sentiments on social media to connect with young and modern consumers.

Rebranding explodes in the tourism sector

Close to 20% of the online coverage on rebranding was driven by the tourism industry, the highest from a single sector. This may not come as a surprise with the industry gearing up for its long-awaited recovery, and one that is getting huge attention from both the media and the public. Within the first few months of 2022, a slew of rebranding initiatives in the travel sector has been announced, signaling the comeback of tourism and opportunities around the future of travel.

Klook unveiled its new brand identity with refreshed icons, illustrations, colors, and the tagline "Your world of joy" as their commitment to revitalize and re-energize the world of travel.

Other examples include the rebranding of The Hilton Singapore as the first voco hotel in Southeast Asia, the renaming of The Swissotel Merchant Court Singapore to Paradox Singapore Merchant Court, and Sentosa S.E.A. Aquarium’s announcement of its expansion as the Singapore Oceanarium, providing greater immersive experiences.

Outside of Singapore, former InterContinental Hong Kong will be reopening this year as Regent Hong Kong following a complete and spectacular makeover. Kuantan 188, Malaysia’s second-highest tower, also gained a new name, while the new ASEAN tourism logo and tagline were launched to promote the region's diversity.

Crypto is going mainstream

There has been a lot of excitement around cryptocurrencies following the rise of blockchain networks and the formation of online communities, but we are just in the early stages. Adoption is accelerating. Several companies in the ecosystem have started to pave the way for the future by successfully rebranding to realign their strategies and step up for more growth.

OKX recently became the second-largest cryptocurrency exchange in the world by spot trading volume. But it was a company-wide rebrand reflecting the dynamism and accelerating adoption of cryptocurrency that secured the biggest headlines. Elsewhere in this space, Binance Smart Chain became BNB Chain after rebranding its two blockchains under one new ecosystem to support its "MetaFi" push.

Tendermint, the company that launched the blockchain-interoperability protocol Cosmos, also announced its rebrand to "Ignite", symbolizing a pivot to "a product-first focus," with the name "Ignite" bringing to mind "the initiation of change and action."

Facebook’s pivot remains THE rebranding initiative of our times

There is no denying that the Web 3.0 era is already here. Brands across almost every industry, especially the digital and financial landscape, have little to no option but to ride with the wave. When tech giant Facebook leaped pivot with its rebrand to Meta, it was an indication to many that the Metaverse is not just another fad.

More than five months into the rebrand, it is still earning widespread coverage and discussions in the media, attributing to 21% of rebranding news. The 'ripple' impact on the tech landscape is clear as companies try to carve a space for themselves in the virtual world.

Takeaways for communicators and senior leaders

The demands of a rapidly changing external environment require you to continually monitor the landscape of the sector you are operating in or any areas of special interest. It is such an exciting time as Asia comes out of the pandemic - the business environment will continue to evolve, as with consumer wants.

With all that is happening, having access to timely news and trends has become non-negotiable as leaders need to have their fingers on the pulse. But good media intelligence isn’t about looking in the rear-view mirror, it allows you to cut through the noise, stay on top of industry and competitor news that matter and help to uncover new opportunities.

For communications and branding professionals, rebranding requires thoughtful research and consideration. It is crucial to listen to your audience and have a clear understanding of your rebrand purpose. A rebranding exercise may not come with full receptivity, so you should always include an issue-management plan to manage resistance.

Charles Cheung is the general manager for Carma Asia

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