As companies search for a competitive advantage in the challenging market of product launches, many are turning to an unexpected source: Discontinued brands that were once popular but fell out of favor due to declining sales and increased competition.
Suva Life recently relaunched Slice soda, a brand discontinued by PepsiCo over 20 years ago. Suva positioned it as a healthier option in the sparkling beverage category, leveraging Slice’s existing brand recognition.
By acquiring established brands like Slice, Suva aimed to accelerate its market entry without the time and effort required to build a brand from scratch.
Other brands like Jolt Cola, Odwalla smoothies, and Hydrox cookies have also made comebacks, tapping into nostalgia to attract both former and new consumers.
However, reviving discontinued products comes with challenges, as companies must balance meeting the expectations of loyal legacy consumers while appealing to a new audience.
The Easy Way In?
Every year, approximately 15,000 new food products are introduced, but the majority fail to gain traction. By reintroducing discontinued brands, companies can leverage existing brand awareness to mitigate the risk of failure.
For example, Suva found that Slice has nearly 50% brand awareness among consumers aged 35-44, tapping into nostalgia and consumer preferences for better-for-you products.
Younger consumers are also drawn to retro brands like Slice, especially when updated with modern features such as healthier ingredients and sustainable packaging.
We don’t want “to spend time building up the brand, building up the awareness. We know what it takes to build a brand from the ground up. It’s not easy.”
Jamie Berle
Director of brand marketing, Suja Life
Capitalizing on existing brand awareness was also a driving factor for Jumex to acquire the license for Odwalla, allowing the company to expand its offerings and market presence.
Brands like Odwalla and Slice represent a trend in the industry where established names are reintroduced to resonate with consumers and kickstart product development.
The process of reviving dead brands can be complex and costly, requiring meticulous attention to detail to ensure the product aligns with consumer expectations.
Leaf Brands CEO has successfully reintroduced several nostalgic sweets to the market, emphasizing the importance of maintaining the original essence of the products while adapting to current consumer trends.
Reviving discontinued brands is a delicate balance between honoring the past and innovating for the future, as seen with the relaunch of Jolt cola as an energy drink with enhanced features to appeal to modern consumers.
Overall, bringing back discontinued brands offers a unique opportunity to blend nostalgia with innovation, catering to both loyal fans and a new generation of consumers.