Just over 70% of people say that strong British brands are one of the things the country can still be proud of and 68% say that, where possible, they still look to buy British, according to new data from international business research company HPI.
The research also underlines the important role expected of business at a time when many believe there is a lack of leadership elsewhere in the country. Two-thirds of those surveyed (66%) said strong brands provide an important degree of reassurance in uncertain times.
The HPI research also revealed a consumer flight to quality; in tough times, people were gravitating to brands they could trust as high-quality, solid and trustworthy. More than six in 10 people (61%) said they tended to now go for things that were tried and tested – products and brands they knew wouldn’t let me down.
A further 57% said they would not compromise on their favourite brands. Risk aversion emerged as a prominent ingredient of people’s coping strategies, with consumers gravitating towards and gaining reassurance from strong, resilient brands.
However, in an important year for British patriotism when many British brands have been capitalising on the extent of their heritage and the goodwill shown by consumers, the research also reveals that some British brands could be missing out on this patriotic spirit. The survey unveiled a number of British brands that were not recognised by the public as being British.
British brands incorrectly identified as not being British:
- Monarch 14%
- Vodafone 15%
- Easyjet 17%
- Dyson 34%
- Waitrose 38%
- Virgin 39%
- Tesco 46%
David Iddiols, partner at HPI Research, said: “The Jubilee celebrations and 2012 Olympics have whipped up a notable sense of patriotism and optimism. Aside from the flag waving, a major issue in the months ahead will be whether this groundswell of patriotism will rub off on business and help kick start growth and influence consumer confidence in the high street.
“Our research suggests people have a strong sense of what makes a strong brand, the importance of strong and assured brands in uncertain times and are proud of British success stories. Alone, Britishness isn’t enough but it may potentially influence people’s shopping and buying decisions and a legacy from this summer’s events is it may become even more important.”
Source: HPI Research