An interesting take on why we value brands – we value brands not because they guarantee great experiences but because they reduce the chance of a terrible experience.
That, in essence, is the power of the McDonalds golden arches. They may not signal a great meal. But, they sure as hell signal predictability. And, in times of change or novelty (think: travel), that predictability is worth a lot.
It occurred to me that the 4.5 star x 1000+ reviews combination on Amazon is the equivalent of the McDonalds brand when we’re shopping online.
(H/T: Alchemy by Rory Sutherland)