The tortuous process of leaving the European Union (EU) threatens to invoice the brand image of the United Kingdom, whose prestige as a synonym for innovation and quality is maintained in emerging markets, but suffers in the most consolidated, such as European and American.
In the last year, the brand value of the top 150 british companies has "defied forecasts" by increasing 10%, to 369 billion pounds (429,000 million euros), according to Brand Finance calculations.
“The final decision on‘brexit’Has not yet been taken, so it is not yet discounted from the national brand value. The coming months will be crucial in determining the future perspective that the United Kingdom will face, ”said the CEO of the consultant, David Haigh.
Although many companies face economic difficulties in the United Kingdom, particularly those exposed to the crisis of retail sector, the reputation of many firms originating in this country resists outside the British Isles.
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An example of that prestige has been offered in recent weeks by the broken British tour operator Thomas Cook, which collapsed in September after 178 years of history.
Influence in emerging markets
64% of consumers Indians and 57% of Chinese would pay more for products imported from the United Kingdom because they perceive that they are of higher quality, according to a study by the Barclays bank.
In France, on the other hand, only 29% of buyers perceive British products as better, and in Germany and the Republic of Ireland that figure is reduced to 22%.
The bank's market analysis suggests that the majority of consumers in China, India and the United Arab Emirates are willing to pay a “premium” for acquiring a British product.
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The French, Germans and Americans, on the other hand, would need a discount to prefer a product from the United Kingdom over a national one on equal terms. British food products are, however, an exception, and are especially valued in all the countries analyzed.
Banks and oil companies
In the "top 10" of the most valued British brands are two oil companies, Shell and BP, and two banks, HSBC and Barclays (although Anglo-Dutch Shell has its headquarters in the Netherlands and HSBC is originally from Hong Kong).
The only one of those four brands that has lost value in 2019 is Barclays, which has fallen 11.6%, according to Brand Finance, while the Shell brand has revalued 10.6%, BP 19.2% and HSBC 13.7%
The EY consultancy is the British brand whose value has taken the biggest leap forward in 2019 compared to the previous year, with a growth of 39.8%. Land Rover car company and BT teleco, on the other hand, are the brands with the worst results of the British "top 10", losing 20.8% and 25.5%, respectively.
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The famous Union Jack flag
The corporate branch of Barclays recommends that British companies visibly print on their products the Union Jack, the flag national of the United Kingdom, considering that it is one of the main symbols that transmits confidence to consumers, especially outside Europe.
"The visual aspect of the brand is particularly important when promoting the British character of its products in emerging markets. Showing the British flag on your merchandise can increase the willingness for them to be acquired," the bank advises in its report.
Among the firms with a strong British character that maintain a “lasting popularity” throughout the world, the entity quotes Scottish whiskey manufacturers and textile firms such as Burberry.