Brits are turning to brands to guide them through Brexit
Over two thirds of consumers want brands to communicate with them in a more open way post-Brexit as their sentiment toward products and services wavers amid the uncertainty. In fact, they now believe brands have a vital role to play in educating people on what the UK’s decision to leave Europe means.
Brexit
Research conducted by J. Walter Thompson Europe indicated that 65 per cent of consumers want brands to be more open while 67 per cent feel they should now have “better communication about where the products and services are from”.
Overall, 71 per cent said they simply want brands to do a better job of educating them on what the vote means for their products and services.
“Companies and brands need to redouble their efforts to be seen to be collaborative, open minded and thinking about possibilities that go beyond their own boarders, and even beyond consumers. There are greater messages to be sent,” said Toby Hoare, chief executive officer of JWT Europe.
It comes amid increasingly economic uncertainty after the vote. Separate research from Neilsen found that the economy is now people’s biggest concern over the next six months, with 55 per cent citing it as one of their top concerns.
This could prove the pivotal time for brands to start reassuring consumers, with Neilsen stating that there is a typically a six-month lag in any change to consumer spending following a change to sentiment.
“[Brands] can play a massive role in abating some of the obvious fears that a huge number of consumers have by educating them – in all manner of areas. This is a great opportunity. The brands that position themselves as open and progressive and for everybody are the ones that most people will want to associate themselves with and buy into. They need to be seen to be part of the new world,” added Hoare.
Among the chief concern of people - and the areas where brands cannot afford to be dishonest – is the cost of products post-Brexit and exactly how any rises will impact their personal finances.