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Singapore retailers should capture consumers with authentic marketing techniques instead of evoking consumers’ feelings with false retro strategies, experts from Global Data and KPMG Singapore say. They cite the McDonald's Singapore Prosperity Burger, which coincides with celebrations for the Lunar New Year, as a good example of successful throwback marketing.
To correctly implement throwback marketing, GlobalData principal analyst Richard Parker advised brands to form emotional connections, leverage past symbolism, and prioritise optimism and positivity as consumers face geopolitical tensions, persistent inflation, and fears of economic recession.
“You’re trying to leverage the vibe without the heritage. The risk is if you’re doing that, what I’m terming as nostalgic appropriation, it’s almost like nostalgic marketing becomes a bit like greenwashing,” said Parker in an interview with the Singapore Business Review.
“It’s in a similar ballpark, of using something in an inauthentic way,” Parker added.
Capturing connections
Taking a leaf out of McDonald’s playbook with its Prosperity Burger, effective nostalgia marketing comes to life, perfectly timed with a Chinese New Year-related campaign aimed at offering Singaporeans a “taste of home.”
This story is from the Issue 106 edition of Singapore Business Review.
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This story is from the Issue 106 edition of Singapore Business Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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