Ocado, Deliveroo and Just Eat have delivered the goods as the UK’s fastest-growing brands according to the 2020 BrandZ Top 75 Most Valuable UK Brands report, launched today by WPP and Kantar.
Reaping the benefits of a stay at home economy, the trio earned bragging rights at positions 18, 20 and 29 in the rankings.
The fastest growing brands in the UK
The ranking is informed by a combination of financial data sourced from Bloomberg and the opinions of over 140,000 UK consumers.
Ocado tops the bill with the already flourishing business turbocharged by lockdown, fueling a 63% surge in brand value to £2.7bn and a lofty 18th placement with it.
Ocado found itself in the right place at the right time with the exact combination of online capability and logistics needed to pull away from other grocery retailers.
Together the takeaway titans posted breakneck double-digit growth, with Deliveroo’s brand value surging 40% to hit £1.6bn while Just Eat rose 19% to £2.2bn.
The top five quickest risers are rounded off by Scottish Power (up 13% to £1.2bn at number 44) and Innocent, which rose a healthy 12% on last year to also post a brand value of £1.2bn, earning it 42nd place.
An ‘urgent’ call to action for UK brands
The top table success masks a pronounced underperformance for the BrandZ Top 75 UK brands as a whole.
Over the last 12 months alone the collective value of the brands on the chart has dropped by 13%, falling well behind the pace set by the Global Top 100 Most Valuable Brands and the international economy.
Despite nursing heavy falls, this year’s top three remains unchanged with Vodafone clinging onto first place despite weathering a 13% decline in its brand value to £18.9bn.
This dismal performance could have seen it overtaken by HSBC, had it not suffered an even more precipitous 19% decline of its own, leaving it in familiar second place territory with a valuation of £15.3bn.
That left Shell safely ensconced in third place with a 22% slump leaving it sitting on a brand value of £13.1bn.
Explaining the stats Jane Bloomfield, chief growth officer at Kantar UK, said: “Despite massive headwinds in Covid-19 and Brexit, a small number of UK brands have performed well over the last 12 months, but they are the exception. Many of our UK Top 75 continue to trade on size and stature, which is a precarious position in a highly competitive global landscape.”
Outlining some of the reasons behind the general underperformance Bloomfield adds: ”A lack of innovation and differentiation leaves them (brands) exposed as household budgets fall and consumers re-evaluate brand choices, often permanently switching to new brands they have found during the pandemic.”
This is a ‘do’ moment for brands and positive action is needed to ensure survival, warned Bloomfield. ”No brand is too big or too well known to fail in the current climate.”