Nostalgia isn’t just about fondly remembering the past; it's a cultural currency shaping today's world. Each generation shows renewed interest in what has come before. The adage, ‘everything old is new again’ is an insight that is continually proven as demonstrated with the Tapeheads community who have a fervor for massive collections of long-forgotten VHS tapes. As one who had a vast collection of VHS tapes, I was happy to ditch them for the sleeker, DVD.
Brands adeptly tap into this longing for bygone eras. In 2011, Nike dropped limited-edition Nike MAGs straight out of Back to the Future Part II. These were not just shoes; they were coveted time machines for sneaker-heads and movie buffs (some fetching up to $25K on eBay). Igloo's retro cooler line blends Gen Z neon with '80s kitsch, complete with modern tech like Bluetooth speakers. Meanwhile, both Chili’s, with its 1990’s throwback Baby Back Ribs jingle and Burger Kings’ 1974 Have it Your Way campaign were reimagined with a modern twist across TV, video, and social media, appealing to multiple generations. And the success of the Barbie movie last year, which led to numerous Barbie collabs including everything from nail polish to toothbrushes. But not all uses of nostalgia hit home. As attitudes and beliefs evolve, brands must ensure their take on nostalgia aligns with contemporary values.
The proliferation of technology and media have reshaped how we perceive the world and brands around us. Streaming services, social media, and even genealogy websites offer unprecedented access to both past and present. Millennials and Gen X parents connect over TikTok, sharing videos of their Gen Z kids baffled by cassette tape players, pagers or rotary phones. This access to the good and bad of how things have also shifted attitudes and behaviors around product and media consumption. Gen Z and Millennials are 27% more likely than older generations to buy from brands they believe care about their impact on people and the planet. Thrifting, as a means to limit fast fashion consumption, has grown in popularity and is expected to gross $77B by 2025. Contemporary views on systemic racism have prompted media companies like Turner Classic Movies and Disney to add warnings or discussions to old films, offering a modern take on their content.
In a world where yesterday's hits are today's trends, brands must do more than capitalize on nostalgia; they must do it right. And not only is the time narrowing between the past, the now and the resurgence, but it is happening intra-generationally.
Takeaways for Brands
- Defy the convention of now: transcend the confines of showcasing only what's new and next by harnessing nostalgia to build deeper bonds between your brand and audience.
- Know your roots: Be transparent about your past and your trajectory. Your audience isn’t just buying a product; they’re witnessing your evolution within society.
- Make it more than a gimmick: Ensure nostalgic elements are aligned with your business purpose.
- Know your audience: Identify aspects of your past that resonate with consumers and bring them to life with a modern twist.
- Understand trend cycles: Conventional wisdom says to expect a resurgence every 20 years, now that can happen in half the time with the same consumers.
- Collaborate: For emerging brands, collaborate with nostalgic brands that share similar values and audiences.
So, here's to yesterday's nostalgia, through the lens of today's truth.
For more around the "why" behind consumer motivations and brand actions, download ahead 2024: branding beyond impact.
