I was recently working with a long-established, traditional US retailer that is being disrupted through stories.
But they didn’t know it.
“This is insane,” the brand manager said in exasperation. “All these new companies have come into our market. They’re selling virtually the same shirts that we are for $70. Our price is $20. How are they getting away with it?”
On one level, he is correct. These clothes are similar in almost every visible way. But he was missing a crucial component. The disrupting brands had a story, and he didn’t.
And people buy stories.