To stay relevant and competitive, companies must have a detailed understanding of how and where their consumers shop, says chief executive of InsideOut PR, Nicole Reaney.

“Understand deeply where they go, the platforms they access, and where they shop the most and why,” she said.

For example, Tupperware’s reliance on the “party” sales model, where individual sellers promoted the products within their communities, has increasingly become less relevant.

“Tupperware relied on archaic marketing and growth channels. It succeeded at a time when the majority of mums were stay-at-home, while today almost half of the workforce are women,” Reaney said.

But despite changing consumer behaviour and challenging economic conditions, some legacy global brands have bucked the trend. Just ask block toy giant Lego, which marked its 90th birthday in 2022 with revenue growth of 17 per cent, hitting 64.9 billion Danish Krone ($14.1 billion).

Documents filed with Australia’s corporate regulator show that Lego’s local revenues grew from $446 million in 2021 to $464 million in 2022, while the company’s Australian profits inched up slightly to $10.6 million.

Vice president and general manager for Lego Australia and New Zealand, Troy Taylor, says much of the company’s success comes down to its focus on reinvention.

“Kids aren’t loyal to brands,” he said. “You have to keep moving, you can’t rest on your laurels.”

Lego, founded in 1932 by Danish carpenter Ole Kirk Kristiansen, has evolved from a maker of wooden toys to plastic brick building sets over the decades.

Taylor says there are some classic sets from the company – like the Lego City Fire Station – that have an enduring popularity across the decades. But the business has always focused on meeting the changing interests of its consumers.

Beyond its physical goods, it has also become a content powerhouse. From licensing deals for Star Wars and Harry Potter to the Lego Movie franchise, the business has worked hard to meet consumers where they are.

“We are a physical toy living in a digital world,” Taylor said.

The business has also courted fans of all ages over the decades, with ‘Adult Fans of Lego’ also contributing to the company’s longevity.

“At our heart we are a kids’ brand, but in recent times we have evolved to a lifestyle brand.”

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Reaney says part of the company’s strength is in reinventing itself to match what appeals to its customers over the decades.

“Lego has evolved through generations with constant new releases that reflect children’s interests [including] superheroes and more,” she said.

Biskri says that in a world where consumers aren’t as loyal as they once were, creating a meaningful relationship with your customers is crucial.

“In times of low consumer confidence, each customer experience really matters.”