It’s a regular occurrence that British brands are accused of a lack of innovation. From product to team structure and building customer experience, the story seems to go that UK brands have a long way to go in catching up to their global peers.
Strongly branded companies recover quicker from crises and retain a stronger performance going forward, Brand Finance’s latest research indicates.
UK companies grew just 1% in brand value over the past year, compared with 22% growth in 2021, according to BrandZ’s latest UK ranking.
The 2020 BrandZ list of the UK’s most valuable brands came with a stark warning of impending doom, or at best irrelevance, for some of the country’s biggest names. But is such pessimism premature?
While last year the airline faced pre-tax losses of £1.1bn, this year that number has narrowed to £178m after flying an additional 50 million passengers.
Brand purpose needs to adapt and change. Most campaigns and initiatives are generic and superficial. Creativity, storytelling and being helpful is what’s needed.
Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here
Regardless of commercial impact, marketing director Annabelle Baker says the decision was the correct one ethically, as the retailer curates “fandoms” on other platforms.