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Discover the aspiration economy with Esprit Global Chief Brand Officer, Ana Andjelic
Dec 28, 2023
Global Chief Brand Officer at Esprit, Ana Andjelic, discusses the premise behind her book on how social, cultural, and environmental capital changes brands. She explores the concept of curation and taste in the aspiration economy, the relationship between values, ethics, and economic value, and the challenges of implementing brand purpose. She also emphasizes the importance of engaging in the aspiration economy through narrative frameworks, collaborations, communities, and curation.
24:07
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Quick takeaways
- In the aspiration economy, individuals signal their status through curation and taste rather than material possessions or social media followers.
- Brands can thrive in the aspiration economy by engaging with communities and seeking collaboration opportunities, as well as infusing values, storytelling, and purpose into their strategies.
Deep dives
Shift in Status Signaling
The podcast discusses the shift in how individuals signal their status. It emphasizes a move away from accumulating material possessions or social media followers towards what the speaker calls the 'aspiration economy.' In this new paradigm, status is signaled through curation and taste, where individuals create their own style and express themselves through a curated edit of products. Knowledge and information also play a role, as people strive to become experts in specific areas of interest. This shift in status signaling has implications for brands and prompts them to think about creating narratives that go beyond material accumulation.
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