Gen Y are more open to newer brands across the board. The reason?
Gen Y has grown up with more choice and more options. It's more acceptable to the point where it's now COOLER to be wearing/listening/talking about unknown brands!
When it comes to electronics the acceptance of 'unknowns' is further justified.
Most electronics are produced in China and their systems, processes and practices have come ahead in leaps and bounds in the last decade. This means that the quality of the 'unknown brands' is now generally good.
The reason for this change is that higher end brands that were being manufactured elsewhere in the world are now being manufactured in China. Processes, technology, equipment and expertise have been picked up and even improved.
Smaller factories that were once manufacturing second rate goods are producing better quality items.
Also, some of the companies that were (and still are) contracting to larger companies now produce for themselves. They deliver same quality items, using same quality technology at much lower prices.
The internet has played a big part in this shift.
Savvy Gen Y'ers believe the internet can expose low quality brands (and businesses) immediately making it more 'safe' to buy unknowns.
It also offers far more choice than classic ground level retail outlets, making newer brands and items even more exciting.
Dockhub (www.dockhub.com.au) has used these findings for its business model. The company began sourcing iPod speaker docks from other markets in the world and then tested them thoroughly. It has now introduced these new brands to the Australian market... with outstanding results.
Brady Gunn, Director of Dockhub, says: "We knew that we were starting an on-line audio store. When we looked into stocking 'brand names' it made no sense. We know audio and when we had a good look at what was out there for far less money, we started to get excited.
"We could supply the same quality, and in some cases even better, iPod docks for less than half the price. After conducting extensive research into our younger target market we discovered that not only were they accepting of our new brands, they were interested in them!"
The consensus was:
- They would be 'onto' a bad product straight away through the internet.
- They knew that they would save money on a non 'brand'.
- Newer products can be more innovative and exciting.
- They like to be the first to 'discover' new products/brands, and to pass on their discoveries to friends.
- The tools with which they can shop online (YouTube reviews etc.) mean that they can gain a good understanding and feel for the product.
- They trust their instincts.
Dockhub.com.au went ahead with a revised business model and they haven't looked back.
"We began importing J & L and AIVN products and they have exceeded all of our own and our customers' expectations. Our most popular products are our Soundtowers which are an all-in-one iPod dock featuring a subwoofer which, as a design, isn't even available in Australia.That just goes to show!
"It seems like we are looking at the start of a product revolution and a more even playing field."
GUNN Audio is the expert in iPod, iPad, iPhone speaker dock and Bluetooth sound systems.
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