UK advertisers have shaken off the economic impact of the pandemic, according to new brand value data from Kantar.
Its BrandZ Most Valuable UK Brands 2021 ranking estimates that the top 75 British brands are growing faster in value than the FTSE 100.
What has the research found?
Kantar estimates the approximate collective value of the UK’s 75 biggest brands, based on surveys of 150,000 UK consumers, to have reached $278.8bn.
In 2021, Kantar estimated that the five most valuable brands in Britain were Vodafone, HSBC, Shell, Tesco and Lipton. Startup brands such as Revolut and Deliveroo have stolen a march on competitors, however, with their brand values jumping 41% and 58% in the last year respectively.
Royal Mail, Ocado and Asos were three of the fastest-growing brands in the last year, reflecting better consumer awareness and demand for delivery specialists during the pandemic. Meanwhile, the value of Just Eat’s brand was reckoned to be $6.6bn.
Dom Boyd, senior director, offer and qualitative, Kantar Insights UK, said: “Social restrictions last year gave a boost to a broad range of brands that prioritize convenience, digital services and at-home comfort, from loungewear providers to online banks and delivery experts. The next test will be for these high-achieving brands to sustain their performance as people socialize more again and return to work. They have got to present a clear and compelling offer that reflects the new and different ways people are living their lives.”
What does the research tell us?
Boyd suggests that, if British brands are to compete in a globalized economy, they must cease relying on legacy names and focus on ‘innovation’. He said: “Meaningful innovation doesn’t just mean rolling out new products. It could be taking a different approach to how you position your brand, like Brewdog and Innocent. As well as offering intrinsically high-quality products, their marketing is designed to instill a feel-good factor in buyers and a sense of pride – a clear point of distinction.
“Strong brands aren’t built in a day. Bakery chain Greggs is a prime example of that and it has catapulted into this year’s ranking at number 71, despite its stores being closed for many months during Covid-19 lockdowns. The fact that it has spent so long developing popular new products, and marketing them creatively, helped it to weather the storm of the pandemic effectively. Its investment in marketing and brand-building, and its willingness to be bold and to surprise people – as with the launch of its now iconic vegan range – have paid dividends.”
The 10 biggest brands in Britain, according to Kantar