–Susan Perera, Attorney
Predictions are in and multiple brands are expected to decline or disappear completely in 2012. CoreBrand CEO, James Gregory (as reported by Jim Edwards), and 24/7 Wall Street have both released lists of brands they believe are on the chopping block for the coming year.
The predictions attribute some of these brand failures to the economy (Saab & Sears), acquisition (Avery Dennison), inability to keep up with competitive technology (Kodak, Sony Ericsson, & Nokia) and social/media change (MySpace & Soap Opera Digest).
One of the more surprising brands on 24/7’s list is Kellogg’s Corn Pops. 24/7 reports that sales of Corn Pops dropped 18% last year and suggests that this decline may be attributed to a perception that the product is not a “healthy” breakfast choice. Further, 24/7 suggests that private label sales may be hurting branded cereals. In the current recession, this is a reality that may be impacting a number of brands (the anticipated growth of private label brands has also recently been reported on by Store Brands).
Meanwhile, Gregory suggests that the brands CA Technologies, Pittsburgh Plate Glass Company, and Steelcase are all disappearing, not due to company setbacks, but due to a lack of an overall brand strategy and promotional campaign.
What are your thoughts on these predictions? And what brands do you think need a boost to keep afloat in the coming year?