Amazon tops Meaningful Brands survey
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Online giant Amazon has topped Havas Media’s Meaningful Brands UK report 2015, closely followed by Marks and Spencer, and John Lewis, in a survey that measures the benefits brands bring to consumers lives.
In a poll of more than 19,000 British consumers, the top ten brands are dominated by the retail sector, with retail brands occupying seven of the top ten spots, with technology and finance taking the remaining spots. Aldi, Sainsbury’s, Samsung, Boots, Lidl, PayPal and Sony make up the top 10.
It’s the attachment that consumers have with retailers that makes them score highly in the meaningful report, with all of the top 10 brands scoring more than 45 percent when respondents were asked “would they miss the brand if it disappeared tomorrow”. Amazon, the most meaningful brand in the UK, would be missed by 64 percent of UK consumers if it disappeared, according to the report.
However, at the other end of the report, it was revealed that 94 percent of respondents wouldn’t care if brands disappeared, an increase from 93 percent in 2013, showing that consumers are unimpressed by the lack of sustainable initiatives on offer from high profile brands.
It also pays to be a meaningful brand, as the report reveals that meaningful brands increase their ‘Share of Wallet’ by seven times and on average gain 46 percent more ‘Share of Wallet’ than less meaningful brands. Reiterating that brands that contribute to consumers quality of life are rewarded with stronger business results.
To become a meaningful brand, Havas states that trust is no longer enough, but more of a prerequisite, “meaningfulness is a key driver for brands that wish to deepen connections and play a greater role in people’s lives”.
“Brands that make a commitment to personal wellbeing have a huge opportunity to increase loyalty and trust levels,” said Sharon Johnson, Havas Media Re:Purpose CEO. “There is no single formula for being a meaningful retail brand, but we’ve found that retailers that contribute to people’s life priorities are more likely to be appreciated, recommended and attractive to a customer.”