• Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

Divorced, Not Defeated: 5 Flexible Jobs That Put Money Back in Your Hands

May 22, 2025

How the Gig Economy Is Failing Businesses

May 21, 2025

OpenAI Is Purchasing Apple Designer Jony Ive’s AI Startup io

May 21, 2025
Facebook Twitter Instagram
Trending
  • Divorced, Not Defeated: 5 Flexible Jobs That Put Money Back in Your Hands
  • How the Gig Economy Is Failing Businesses
  • OpenAI Is Purchasing Apple Designer Jony Ive’s AI Startup io
  • Does Amazon Owe You a Refund? Here’s What to Know.
  • Challenge Island Franchises Inspire Young Minds To Grow
  • What To Know About The Social Security News And Rumors
  • 15 Counties With the Most Housing Growth in the Past 10 Years
  • No Exit: Musk Doubles Down on Tesla as CEO, Dials Back Politics
Thursday, May 22
Facebook Twitter Instagram
iSafeSpend
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
iSafeSpend
Home » How Cheap Products Are Destroying Brand Trust
Make Money

How Cheap Products Are Destroying Brand Trust

News RoomBy News RoomMay 15, 20250 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Entrepreneur

In an era of throwaway culture, products built to fail are costing us trust, money and something often overlooked – mental health.

As The Wall Street Journal recently discussed, consumers are addicted to cheap goods that they don’t need and are engineered to fail. With every purchase of another low-quality disposable product, there’s a growing cognitive dissonance: We know our choices are contributing to something harmful — to ourselves, our finances and our environment — but we can’t seem to help ourselves.

This ongoing struggle is taking a toll. A 2023 study published by Frontiers in Psychology found that materialism is consistently associated with mental health problems like depression and anxiety and contributes to an overall decline in well-being. In other words, buying more is not making us feel better – it’s making us feel worse.

This phenomenon contributes to another worrying trend — our eroding trust in institutions, and big businesses in particular. According to the 2025 Edelman Trust Barometer, trust in U.S. businesses runs at just 47%, well below the global average of 56% and lags behind countries like China (77%) and India (75%).

Related: Stop Blindly Following ‘the Customer Is Always Right’

We don’t just feel annoyed by broken items; we feel betrayed. Low-quality, unreliable products lead to a deeper emotional turmoil in which we begin to question the integrity of the marketplace, of brands, and even our judgment.

In my last article, I argued that as entrepreneurs, we have a responsibility and the power to reverse the destructive advertising and business trends that are fueling society’s need for products they don’t need or cannot afford. But fixing how we sell is only part of the solution. We also need to focus on what we sell.

Entrepreneurs do not have to sacrifice their businesses’ growth and reputation to improve the situation. By focusing on creating high-quality, durable products, we can build customer loyalty and grow responsibly. Build less and build better.

Many brands have proven it’s possible to prioritize product quality by offering lifetime warranties, repair programs or simply building products that last. As a result, they are forging trust and long-term loyalty that keeps customers coming back. Here are a few that stand out.

  • Apple – Quality and durability: Apple did not become the biggest company in the world by building junk. Its products are expensive relative to most competitors, but they are also high quality and built to last. Apple also benefits from the power of the Halo effect – confidence in one product encourages customers to buy more from the same brand. Higher prices become less of an issue when consumers know Apple’s products will perform for years.
  • Briggs & Riley’s lifetime warranty: The luggage maker produces high-quality luggage that’s backed by a lifetime warranty. I’ve sent my suitcase back four times since I bought it over a decade ago, including after it fell off the back of a pick-up truck in Ecuador. Each time, they have repaired it. As a result, I’ve recommended this company to everyone I know. That kind of service builds loyalty.
  • Hyundai changed the market and its reputation with a 10-year warranty: After launching into the American market in the 1980s with inexpensive yet low-quality vehicles, Hyundai reinvented itself by offering good-quality, durable vehicles and “America’s Best Warranty” through an unprecedented 10-year/100,000-mile comprehensive plan. While most competitors’ warranties maxed out at 5 years or 60,000 miles, Hyundai’s move completely changed its reputation and helped it become the number three automaker in the world.

More and more people want to buy from brands that are honest, sustainable and sell products that are built to last. Entrepreneurs just need to give them the opportunity to make the responsible choice.

Related: 31 Low-Budget Marketing Ideas for Your Business

Three shifts for entrepreneurs who want to build better

  • Start with one, high-quality product: Instead of revamping your entire product line, focus on making one item truly exceptional. Emphasize quality craftsmanship, offer extended support and let that product become your calling card. Use the Halo effect that Apple and others leverage for growth.
  • Be transparent about lifespan and use: Instead of pretending that your product is eternal, tell the truth about its expected lifespan. And if the life span is designed to barely outlive its warranty, invest in ways to make it more durable and able to live up to your sales pitch.

Conversely, if you build a product that is designed to fail earlier than it should, at least be transparent about it. While I certainly don’t endorse planned obsolescence for any product, your customers deserve to know that the product may not last as long as others, but it is (hopefully) priced accordingly.

  • Offer free replacement or repair: As you transition your brand’s reputation to one known for high quality and long-term value, you’ll need to convince consumers that your claims are legitimate. There’s no better way than to stand behind what you sell with a long-term warranty that includes a commitment to repair or replace.

It’s time to redefine success

For too long, entrepreneurs have been conditioned to sell as much as possible at the highest price possible. This has led to most consumers conflating volume with value.

However, there is an opportunity to shift toward a different paradigm anchored in selling fewer items in order to generate higher returns in terms of brand value and customer retention.

I’m calling on my fellow entrepreneurs to embrace this opportunity and put an end to the constant strain on our collective mental health that’s been created by the phenomenon of planned obsolescence.

After all, real innovation isn’t about making and selling more and more products. It’s about making better products that don’t need to be replaced. Innovation is about giving people real value in exchange for their hard-earned money, and not just more stuff.

In an era of throwaway culture, products built to fail are costing us trust, money and something often overlooked – mental health.

As The Wall Street Journal recently discussed, consumers are addicted to cheap goods that they don’t need and are engineered to fail. With every purchase of another low-quality disposable product, there’s a growing cognitive dissonance: We know our choices are contributing to something harmful — to ourselves, our finances and our environment — but we can’t seem to help ourselves.

This ongoing struggle is taking a toll. A 2023 study published by Frontiers in Psychology found that materialism is consistently associated with mental health problems like depression and anxiety and contributes to an overall decline in well-being. In other words, buying more is not making us feel better – it’s making us feel worse.

The rest of this article is locked.

Join Entrepreneur+ today for access.

Read the full article here

Featured
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Divorced, Not Defeated: 5 Flexible Jobs That Put Money Back in Your Hands

Make Money May 22, 2025

How the Gig Economy Is Failing Businesses

Make Money May 21, 2025

OpenAI Is Purchasing Apple Designer Jony Ive’s AI Startup io

Investing May 21, 2025

Does Amazon Owe You a Refund? Here’s What to Know.

Make Money May 21, 2025

Challenge Island Franchises Inspire Young Minds To Grow

Make Money May 21, 2025

15 Counties With the Most Housing Growth in the Past 10 Years

Burrow May 21, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

How the Gig Economy Is Failing Businesses

May 21, 20250 Views

OpenAI Is Purchasing Apple Designer Jony Ive’s AI Startup io

May 21, 20250 Views

Does Amazon Owe You a Refund? Here’s What to Know.

May 21, 20250 Views

Challenge Island Franchises Inspire Young Minds To Grow

May 21, 20250 Views
Don't Miss

What To Know About The Social Security News And Rumors

By News RoomMay 21, 2025

Social Security’s been in the news a lot lately. Changes definitely are afoot in the…

15 Counties With the Most Housing Growth in the Past 10 Years

May 21, 2025

No Exit: Musk Doubles Down on Tesla as CEO, Dials Back Politics

May 21, 2025

‘Shark Tank’ Star Barbara Corcoran Reveals Her True Passion

May 20, 2025
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: support@isafespend.com

Our Picks

Divorced, Not Defeated: 5 Flexible Jobs That Put Money Back in Your Hands

May 22, 2025

How the Gig Economy Is Failing Businesses

May 21, 2025

OpenAI Is Purchasing Apple Designer Jony Ive’s AI Startup io

May 21, 2025
Most Popular

5 Personal Finance Trends Emerging Under Trump

May 15, 20251 Views

Divorced, Not Defeated: 5 Flexible Jobs That Put Money Back in Your Hands

May 22, 20250 Views

How the Gig Economy Is Failing Businesses

May 21, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 iSafeSpend. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.