When presented as a lifestyle, your products and services are put into context. And as we have seen before, placing your content in the appropriate context helps your audience make sense of the avalanches of content that already exist in the world today.
In regards to your specific brand, providing a lifestyle helps your audience make sense how your wares (product or service) can fit into their life. Or if your brand is a good fit for their life at all.
For example, there are a lot of clothing boutiques and online shops. Many times people shop, not for a specific article of clothing, but for the type of life they want to lead. Someone who buys Versace socks aspires to lead a very different life than someone who buys a pair of jeans from Walmart.