Your brand of the future: five tips from Sweden
COVID-19, military attacks, inflation and high prices for fuel/electricity has changed ordinary shopping behaviour among consumers in Europe, including Sweden.
This, however, also means new opportunities for companies with their eyes open for the future. Here are five tips from a Swedish point of view in order to keep your trademark valid and popular:
1. Less shopping—more research
A survey from the Norwegian Posten Bring, which delivers packages to customers in the whole of Scandinavia, shows that many consumers have reduced their purchases recently. According to Klarna, the leading Swedish payments and shopping service company, nine out of ten consumers research and compare prices before making a purchase. More research also means fewer impulse purchases. Many are critical of the big trading days, like ‘Black Friday’, because they believe they promote unnecessary consumption and fake offers. Conclusion: always be clear and honest with the price for your goods.
2. Make your trademark more live and visual
Whether a customer ultimately makes a purchase in a traditional physical store or online, their initial search and decision are made through visual searches online, mostly on their mobile phones. Among millennials and generation Z, 62% prefer to search with images.
"A survey from customer data platform Twilio Segment shows that 56% of customers return when they have had a more personalised service."
You therefore need to update your trademark with some visual effects, like a handwritten logo, adding colours, sounds or motion/animation. But keep it simple—your customer just wants to find you in order to click on to your goods and services.
One good example is the Swedish “movable exclamation mark” (!), registered already in 2020 as No 607945 in the name of SBAB Bank for goods and services in classes 9, 35 and 36. Hybrid working is here to stay, meaning less unplanned physical shopping, so make your trademark live online!
3. Do not skip your traditional website but focus on social media
According to Meltwater, a Norwegian online media company, 97.5% of the Swedes from 18 and up are using social media, preferably Facebook and TikTok. However, many companies make the mistake of trying to cover as many platforms as possible. Instead, conduct market research and focus your activity on the places where your customers are most active.
4. Give a personalised customer experience
Consumers increasingly prioritise companies that offer a personalised shopping experience. A survey from customer data platform Twilio Segment shows that 56% of customers return when they have had a more personalised service. Expectations for personalisation are also increasing in line with the rise of artificial intelligence (AI).
In the fashion industry, AI is used increasingly, creating virtual fitting rooms where customers can try out products. Swedish ready-to-assemble furniture company IKEA uses AI so that you can place furniture in your home to see how it works before you buy.
5. Don’t just say you care about the environment—show what you do!
Swedish consumers are willing to pay a little extra for environmentally friendly products and especially the younger generation actively searches for information about brands that stand for sustainability and recycling.
Goodonyou.eco is a website that markets, rates and informs of environmentally-friendly Scandinavian fashion brands. A couple of Swedish examples on the site are:
Dedicated, which markets itself as a “responsible streetwear brand for men, women, and children”. All cotton used in its clothes is 100% organic, “which means that you don’t have to sacrifice your ethics to dress in style”. Nudie Jeans “Gives you the naked truth about denim”. The brand uses eco-friendly materials including GOTS-certified cotton in its high-quality, long-lasting products and limits the amount of chemicals, water and wastewater in production. It has also adopted the Fair Wear Foundation Code of Labour to ensure fair labour in its supply chain. Its trademark was registered in 2020, No 349476, class 25.
Goodlist.se is another special site that collects consumer reviews, with the goal to help other consumers to make the right decision when looking for companies that actively work with sustainability. Goodlist gathers consumers’ environmental ratings for all kind of industries. At the top of Goodlist’s ranking for 2024 is Liselotte Lööf Miljö, a company based in the capital of Sweden with waste management as its main activity. Not surprisingly, the company’s slogan is “we keep Stockholm clean and beautiful”.
Petter Rindforth is managing partner at Fenix Legal. He can be contacted at: info@fenixlegal.eu
