Why do so many legacy brands implode when trying to attract new customers?

"So the brand reinvents itself to pull in a younger segment of the market, often by borrowing ideas from cooler competitors to seem more "on-trend." But instead of younger and cooler, the rebrand comes off as insincere, stilted, or cringey. Worse, the brand's older, core customers, who liked the brand as it was, are irritated by the changes. Instead of spurring new growth, the effort drives off some of the existing customers, leaving the brand worse off than when it started."

"This is the recent story of The Bachelor television franchise. After a two-year hiatus, ABC's dating show returned this summer, having made changes that were designed to appeal to a younger audience. The updated Bachelor in Paradise cribbed from Love Island, its primary rival in the competitive-dating-in-bathing-suits genre, and a show beloved by the younger audiences The Bachelor wanted to attract."

"Cracker Barrel's recent woes also fit this pattern. Its "traditionalist" segment of 65-plus diners was dwindling, leading the brand to try attracting new, younger customers by updating the interiors and changing the logo. It is not clear that the changes brought in those younger diners in significant numbers. But the changes did produce an exhaustively dissected backlash from its loyal customer base, for whom, it turned out, nostalgia was a significant part of the Cracker Barrel appeal."

Many legacy brands facing stagnating growth attempt to attract younger customers by borrowing trends from cooler competitors and updating aesthetics. Such rebrands can appear insincere or cringey, prompting older loyal customers to react negatively and abandon the brand. The Bachelor implemented aggressive quick-cut editing and added a cash prize but failed to entice younger viewers while upsetting long-time fans, leading to historic-low ratings and viewership. Cracker Barrel updated interiors and its logo to court younger diners but did not clearly gain them and instead provoked a backlash from nostalgic regulars. Rebranding can therefore reduce overall customer base and harm performance.

Read at Fast Company