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Deliveroo, Costa Coffee and BrewDog are the UK’s Fastest Growing Brands

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Deliveroo, Costa Coffee and BrewDog are the UK’s Fastest Growing Brands

Deliveroo, Costa Coffee and BrewDog are the UK’s Fastest Growing Brands
September 13
10:28 2019
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Deliveroo, Costa Coffee and BrewDog are growing in value faster than any other UK brands, according to the 2019 BrandZ™ Top 75 Most Valuable UK Brands, announced by WPP and Kantar. Vodafone remains the UK’s most valuable brand, worth US$26.5 billion (£21.5 billion), followed by HSBC and Shell.

Deliveroo, at no.50 after increasing its value 54% to $1.4 billion (£1.1 billion), has proved a great disruptive force, while building a reputation for social and environmental sustainability. The purchase of Costa Coffee (+48%; no.47; $1.5 billion; £1.2 billion) by Coca-Cola has boosted its value. BrewDog (+40%; no.57; $1.2 billion; £1 billion) innovates in a very purposeful way, and has a unique identity that helps it stand out from the crowd. The Top 5 Risers are completed by Ocado (+35%; no.34; $2.0 billion; £1.6 billion), and Innocent (+35%; no.51; $1.3 billion; £1.1 billion).

David Roth, CEO of the Store WPP EMEA and Asia and Chairman on BrandZ, says: “Consumers perceive the fastest-growing UK brands as innovative and dynamic, with a sense of momentum and a clear point of difference. They have built strong emotional connections and have great communicative power to tell their story. However, to keep up with accelerated growth of other global brands these brands must now work to build on their strengths and continue to deliver a fantastic customer experience, one of the key drivers of success for disruptive brands.”

‘Fame’ is not enough

The fastest-growing brands in the BrandZ UK Top 75 are viewed by consumers as different in a very meaningful way. The big-name brands are very salient – they jump readily to consumers’ minds – but they are not considered to be meaningfully different. As a result, their relevance and their brand value are both slipping. Nor are they deemed particularly innovative, scoring 104 (down from 105 in 2018), compared with 113 for the BrandZ Global Top 100 and an average of 100. They are also less ‘loved’, engendering less of a positive emotional connection and predisposition to buy than brands in the rest of the world.

Martin Guerrieria, Global BrandZ Research Director, says: “This is a wake-up call for UK brands that have been over-reliant on their fame. Economic uncertainty – including around Brexit – has led to a lack of investment in long-term brand building, and a focus on short-term outcomes such as driving sales. The sheer profile of UK brands has bolstered their success thus far, but this is not sustainable without meaningful difference, which can only be created through brand building. To avoid losing more ground, brands must reinvigorate their offer and revitalise their connection with consumers – building on their salience to prove their continued relevance.”

Jane Bloomfield, Chief Growth Officer at Kantar UK, says: “The UK is a phenomenal market to be associated with, and there’s a huge opportunity for brands to grow, even in these challenging times. Consumers’ habits and attitudes have changed – they demand convenience and a great experience, and they’ve become more price sensitive. Brands mustn’t lose touch with this; if they do, they’ll be at risk from disruptors who can deliver everything consumers want. Brands need to understand and adapt to evolving needs and expectations, in order to stand apart from the competition and give people a reason to buy.”

 

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