What is a challenger brand?
A challenger brand is generally defined as a business that’s neither the market frontrunner nor a niche brand, but driven by a mindset that seeks to have business ambitions beyond conventional means and intends to disrupt the status quo.
How do challenger brands disrupt the status quo?
A challenger brand challenges the already-existing status quo. They have mainly four characteristics: defined purpose, innovation, authenticity, and awareness of your time. So if you have an innovative business plan that has these four features, but not enough resources, you can execute your plan by buying a ticket in a challenger lottery brand Lottoland which challenges the existing lottery monopolies. Here’s the list of the top 10 challenger brands which have disrupted the status quo.
Top 10 brands which have disrupted the status quo
Challenger brand #1: Hireup
Hireup was founded by Jordan O’Reilly, who experienced the already-established support system’s failure for people with disabilities. This resulted in the creation of the challenger brand Hireup in 2015. By directly allowing people with disabilities, the primary purpose of Hireup is now allowing people with disabilities to find, appoint, and manage the support workers. Besides, this business-centered digital platform enables support workers to work, earn, and control their schedule. Thus, it challenges the status quo of the disability sector.
Challenger brand #2: OLIO
To cater to this enormous loss, Olio is an app created to share surplus food rather than waste it. Olio was founded in 2015 to avoid food waste in the homes and the local community. This startup is now reaching two million users worldwide, with a funding of over 10 million dollars. While billions of tons of food is wasted globally, a quarter of the food being wasted in the US and Europe could feed nearly one billion people living under scarcity.
As we have no issue with renting out our homes to strangers, it shouldn’t be a problem if we share our surplus food with strangers too, right?
Challenger brand #3: Airbnb
Airbnb, founded in 2008, is a challenger marketplace to provide accommodations at a much cheaper rate. Thus, it disrupts the usage of already-established hotels and Bed and breakfast (B&Bs). Airbnb has over 3 million lodging listings across the world.
Challenger brand #4: Tesla
Smacking Big Auto is not an easy task. They’ve experienced players with deep bags and political power. In contrast, Tesla electrified its success to become the third-largest automotive brand, just behind BMW and Mercedes. Currently best known for its electric cars, Tesla also manufactures solar panels for residential houses. Tesla’s market capitalization now stands at around $450 billion dollars, making it the most valuable automaker globally by about twice the value of Toyota.
Moreover, their latest project is to create self-driving cars. Elon Musk (Tesla’s co-founder) has just revealed his plans for setting an underground network of roads. There’s a reason why he’s said to be linked with extraterrestrials.
Challenger brand #5: Ecotricity
Founded in 1995, Ecotricity is the first green energy company that generates its energy from solar and windmill. The company provides around 300 charging points and provides a sustainable alternative. Ecotricity’s mission is to change how electricity is generated and used and create a brighter, greener Britain.
Challenger brand #6: Duolingo
How many of you imagined learning a new language as fun? Duolingo has transformed this process, making books, audiotapes, and dictionaries obsolete. This free app gamifies the process of learning, having almost 30 languages to offer. This new version is now adopted in schools, enabling teachers to assess progress.
Challenger brand #7: Back market
Did you know only 1% of your smartphones are recycled, creating an incredible amount of e-waste? Here’s when the Back Market comes into play, with a mission to clean up the tech-world by allowing us to buy the already-used smartphones. Although many of us are reluctant to purchase second-hand devices, the Back Market ensures strict quality standards with a yearlong warranty.
Challenger brand #8: Headspace
There has been an increase in clinical depression cases and suicides caused by mental health issues recently, which is the major hurdle in achieving development goals. Headspace is an English-American online healthcare company founded in 2010. It identifies the importance of mental fitness, guiding the mindfulness training and meditation sessions.
Challenger brand #9: Majority
Quite a while ago, I moved to America. Getting a ledger and a Visa took ages, although I had money. There are simple explanations behind this — no evidence of a living arrangement, no federal retirement aide number — to name a few. That too uncertain inclination you have now is essential to a large number of the 258 million migrants worldwide, and it is the thing that ‘Majority’ will address. Majority is a subscription service that gets you banking and remittances at a much lower cost. This challenger brand is disrupting the already-existing hotel monopolies just like Lottoland challenges the existing lottery monopolies.
Challenger brand #10: TCL (electronics)
No one needs to burn through several dollars on a TV to discover that they stalled out with a below-average set that should be supplanted in a year. That is the reason why many of us end up paying more for a brand name. That is the thing that TCL is attempting to do in the TV business. Regardless of evaluating that opponents store brand TVs, TCL TVs are among the most elevated appraised TVs by clients on compelling destinations like Amazon and Best Buy. The organization is rapidly building up for conveying quality at a sensible cost.
Wrapping up
“Successful Challenger brands are laser-focused on the results.”
As stated above, Challenger brands are focused on overtaking or becoming the market leader through a new or unique product offering.
This list of challenging brands has a set of characteristics in common that you already noted. If your business plan has these features and lacks only funding, sign up for Lottoland’s lottery. Lottoland challenges the existing lottery monopolies coupled with helping everyone to become the emerging challenger brand of 2020.
