Is Brand Equity Now Only About Brand Utility?

In fact, if you look at the most 10 valuable brands of 2017, you don't see any Coca Cola or Procter and Gamble brands or any consumables. These are all utilities people love, brands that are utilities that help them in some way, shape or form. You don't actually see Hershey's, Nestle brands that people used to love. Where are they all? They used to be part of this list. They're no longer here because they don't matter as much to consumers anymore. So these low involvement categories have a tremendous amount of work ahead of them, which is going to force a new wave of innovation in packaged goods. Some companies are saying I'm going to leverage a platform like Shopify. Shopify just went public. It allows anybody to go on E Commerce very easily and sell directly. There's a billion dollar private company in the US called Warby Parker that sells eyewear that took on a global behemoth called Luxottica that sells glasses for a lot cheaper. They allow you to actually try on your glasses virtually with your phone. Who needs to actually go into a store and actually get them shipped to you? If you don't like them, you send them back.