You're listening to Bloomberg Business Week with Carol Messer and Tim Stenovic on Bloomberg Radio. Tim, I want to get to our next guest. Because her company has teams in over twenty one countries. They see a lot in terms of what's going on with brands and companies around the globe, working with who's who up brands including Apple, Walmart, BP, Lego, Kellogg's and Microsoft and many more, helping them with strategy
development experience. So a great voice, as I said, to talk about really the challenges in the environment facing global companies today. Very pleased to have with us. Jane Garritty, the CEO at Lander and Fitch, joining us via Zoom from London. Jane, good to have you with us. How are you this evening. I'm very well. Thank you for having me. I'm excited to be here. Happy New Year. If it's not too late, it's not too late, we'll
take it. Happy New Year Year as well. Hey, I want to talk about brands and the and the way that people are thinking about brands in twenty three and just the currency that brands have. Carol mentioned a few big brands including Apple, Walmart, BP, Lego, certainly who's who of them? Um, when it comes to brands, give us an idea of what it takes to build and maintain loyalty. Well, I mean, I think the the equities that are that
are important for brands success are undoubtedly changing. UM. I think we've all had so much to experience in these recent years, with the pandemic, with the impact of technology, with you know, so many troubling trends surrounding us, UM, And what we're seeing from a brand perspective is that equities like trust, authenticity, empathy, all of these kinds of
traits are coming to the four. So I suppose if I think back to five years ago, brands would always be putting their best foot forward and showcasing their best equities. I think what we're seeing is in today's times, brands that are embracing vulnerability and showing a much more rounded perspective on their personality. They're the brands that are going to win out. So brands that are both showing strength but also addressing challenges and weaknesses. Hey, you know, Jane,
one thing I am curious about. Happy New Year to you as well. UM. You know, companies it's easy for them to embrace the softer side of our world and to show that they are thinking about sustainability or E s G issues or diversity um, which I felt like all companies were like, yes, yes, number one coming off of UH certainly the killing of George Floyd and where we were in the pandemic um, so many issues coming at us in a tougher economic environment where there might
be some uncertainty or even a recession. Do company still say yep, we've got to keep that as a priority or does that kind of fade to the background. Well, I think what we're seeing is that consumers are demanding that brands actually show up and demonstrate commitment. So I feel as though what used to be seen as a sort of a tick box exercise or an obligation, there is now real value in continuing to strive for a more equal world. Consumers are rejecting brands that are making
empty promises. UM. So I do think is is the economic times get tougher, the brands that continue to to push their social agenda will be the ones that succeed because consumers are demanding that we like, what do you take? Like? You guys have worked with Apple and we've a news on Apple today and we're like saying, this is going to be a company to watch because they're just so
all in. Having said that, you know, still doing a lot of manufacturing in China, and there can be a lot of questions about China in terms of how it treats its people. Um, and certainly in terms of privacy issues and so on. Like how like, what's your advice to a company like that? Well, I think, as I say, you know, a lot of the issues that we face a complex that into related and I think provided um companies and brands are committed to doing better and transparent
about how they are trying to do better. Um, I think that people are they recognize the complexity of the challenges that we all face to succeed in business today. So I think that the trick is about transparency and a commitment to program us. It's so it's it's hard to think about brands in the context of the way that we kind of grew up with them because they
are so much more involved in the political conversation. How do you advise brands about when to weigh in when not to weigh in, Because it seems like each and every day there's some mistake that some companies making. They're really stepping in it. Sometimes we're talking about Disney a lot because there's some headlines. But look at the you know, problem that they found themselves, and then the prior CEO, Bob Speck, when they weighed in politically under pressure from
their own employee base. I mean, I think it comes down to the way that we advise our clients is there has to be a genuine commitment and an authentic commitment to whatever the social agenda might be. You know, you have to be truthful. I think consumers have seen through um, you jumping on the bandwagon for self serving purposes. You you really do have to step up and have enduring commitment to a social issue in order for for
for you to be relevant in the discussion. Well, I'm going to say before you go, we are curious because you do talk to companies and leaders every day around the globe. Um, how would you describe most of their moods and thoughts on the global outlook right now? Do you know? It's I mean, that's a fascinating question, and I think it's you know, it's it's really variable by category. I mean, there are certain categories that are expecting tough economic times to to serve them very well, and others
that are obviously expecting things to be tougher going forward. UM. I do think though, that in times of uns certainty, innovation and creativity typically flourish. UM. And I think the advances in technology opportunities through connected experiences. I mean, we've all learned finally how to use a QR code. Took COVID to do that. I know it took a pandemic for us to work it out, but there are so many new opportunities that I think are exciting to the
brand owners that we work with. UM that really I think that that they're kind of that The mood is more about making the right choices UM during these you know, these uncertain times, so placing big bets on those opportunities that are likely to pay back, presenting themselves vulnerability. Jane, we unfortunately have to leave it there. Really appreciate you joining us this afternoon. It's Jane Garritty, the CEO at
Lander and Fitch, joining us this afternoon from London. You're listening and watching Bloomberg Business Week.