Most large brands are more than aware of the challengers in their categories. Rarely are they disrupted by surprise. More often, the mistake made by big brands is that they underestimate or ignore what the challengers represent. After all, upstart competition can often be bought or crushed if necessary.
But what happens when competitors represent not commercial entities but social movements? At the Cannes book launch of PHD and Eatbigfish's new book, Overthrow II, two challenger brands, Oatly and Tony's Chocolonely explained how they were disrupting the dairy and chocolate industry respectively, with the primary aim of creating sustainability and social change rather than stealing market share.
They explained how 'purpose' was not a strategy tradional brands ought to employ, but rather had to be something they practiced and truly stood for. In this video, PHD chief strategy officer for EMEA and Overthrow II co-author Malcolm Devoy talks about the tricky position some large brands are in and how they ought to respond.