The nostalgia trend: Why do companies revive old brands?

“I think we are more nostalgic than in the past because we’re all looking for something secure and comfortable. We are in a society now where things cost more money, it’s more difficult to live and to make ends meet. We end up in households where our kids stay with us much longer. We end up in households where students don’t necessarily go and live away from home. We see nostalgia as comforting but it’s also value for money. We like to invest in the things that we think we know well and trust,” agrees Todaro.

What comes next? Woolworths?

The consensus seems to be that until things change, nostalgia is here to stay. Both Bullen and Todaro suggest it’s a likely candidate for revival. As generalist retailers like Wilko disappear and WHSmith undergoes rebranding, there may be space for a trusted high street name to return.

Todaro posits that the loss of Wilko on the high street and the imminent rebrand of WHSmith opens the door for a more generalist kind of shop to return. He also believes that the fact Poundland is looking to cut back on space and is potentially looking to sell could make the demand for Woolworths even higher. “If Poundland was to disappear off the high street, there would be no retailer left that you could go into and buy a bar of soap and a packet of screws,” he says.

Overall, it remains to be seen if this model has any longevity once the initial burst of nostalgia fades. Any company which chooses to revive a legacy brand will have to ensure that it has planned for what comes after this otherwise the brand will be condemned to repeat history.

To read the published article featuring comments by Dan Todaro, Gekko Group CEO, please visit Retail Sector

Photo by Mike Bird