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At global scale, to such effect, probably. There are many businesses with cult following: sports "teams", car brands, etc. I know many people who buy the same

At global scale, to such effect, probably. There are many businesses with cult following: sports "teams", car brands, etc. I know many people who buy the same marque of car for decades. There are huge numbers of people who are supporters of companies like Manchester United,which is a listed company again: https://www.marketwatch.com/investing/stock/manu https://www.marketwatch.com/investing/stock/manu - and for many it is part of their identity.

yurishimo 2y ago
Is that really a problem if the companies are providing a service that consumers are happy with? Cars I think is actually a great example. Toyota (and Honda, though to a lesser extent) have a reputation for a reason. If they screw up too much, that goodwill is eroded. Volkswagen is perhaps the poster child for corporate fuckup-ery. Humans are at the end of the day all creatures of habit. This applies equally to purchasing habits. When applied to expensive consumer goods, brand loyalty makes sense. Why would I want to spend a year’s salary on an unproven product? Now, personally, I think the identity piece is pretty cringe, but that doesn’t mean that it doesn’t make sense. Humans are also not great at living with inconsistencies in their worldview and decision making because many take it as a personal attack on their character instead of recognizing it only as a bad decision that they have learned from.
- graemep 2y ago
  That is a huge and complex matter for debate. IMO it is one of many things that undermines the notion that we live in an economy that has efficient markets and is genuinely competitive. > When applied to expensive consumer goods, brand loyalty makes sense. Why would I want to spend a year’s salary on an unproven product? Except that the brands know this and know they can drop quality and it can take many years for it to damage sales, so strong brand loyalty actually undermines the incentives to sell a good product. > . Toyota (and Honda, though to a lesser extent) have a reputation for a reason. yes, and they probably deserve it, on the other hand every car brand has loyal customers, and so do many other brands, including lifestyle branding for cheap (but high margin!) products.

yurishimo 2y ago

Is that really a problem if the companies are providing a service that consumers are happy with? Cars I think is actually a great example. Toyota (and Honda, though to a lesser extent) have a reputation for a reason. If they screw up too much, that goodwill is eroded. Volkswagen is perhaps the poster child for corporate fuckup-ery. Humans are at the end of the day all creatures of habit. This applies equally to purchasing habits. When applied to expensive consumer goods, brand loyalty makes sense. Why would I want to spend a year’s salary on an unproven product? Now, personally, I think the identity piece is pretty cringe, but that doesn’t mean that it doesn’t make sense. Humans are also not great at living with inconsistencies in their worldview and decision making because many take it as a personal attack on their character instead of recognizing it only as a bad decision that they have learned from.

graemep 2y ago
That is a huge and complex matter for debate. IMO it is one of many things that undermines the notion that we live in an economy that has efficient markets and is genuinely competitive. > When applied to expensive consumer goods, brand loyalty makes sense. Why would I want to spend a year’s salary on an unproven product? Except that the brands know this and know they can drop quality and it can take many years for it to damage sales, so strong brand loyalty actually undermines the incentives to sell a good product. > . Toyota (and Honda, though to a lesser extent) have a reputation for a reason. yes, and they probably deserve it, on the other hand every car brand has loyal customers, and so do many other brands, including lifestyle branding for cheap (but high margin!) products.