Home » business mums news, Headline

Do you pay more for a brand?

2 December 2018 No Comment

Having just saved £30 on a weeks shop by swapping from Tesco to Aldi, I was interested to read that more than half (54 per cent) of all consumers are still prepared to fork out the extra cash for a well-known brand.

Some of the most popular brands among adults today include Apple, Coca-Cola and Cadbury’s – while 28 per cent prefer to step out with the Adidas stripes on the side of their shoe.

A further 52 per cent love to flash a Costa or Starbucks logo while on the train, and more than a fifth (21 per cent) sport Ray-Ban sunglasses when the sun comes out.

So what does this mean for your business? A spokesman for promotional products retailer 4imprint, which commissioned the research, said: “Our results found brand names are hugely important to many. Branding is the cornerstone of marketing – if you get your logo and brand identity right, it can have a huge impact on the success of your business.”

Apple was revealed to have the UK’s best logo according to the survey, with a quarter of Brits picking the electronics giant.

This was followed by Nike’s iconic ‘swoosh’ tick, and the famous Starbucks mermaid logo, in its distinctive green.

When finding themselves in an unfamiliar city, Brits are also 10 per cent more likely to buy a coffee from a chain like Starbucks or Costa than a shop they don’t recognise.

More than a third of those surveyed admit to feeling pride when showing off items from a brand they like.

And over half prefer it when they buy a branded item and there’s a clearly visible logo to show where it came from.

On average, Brits are willing to pay 12 per cent over the odds for a product from a brand they like, over a non-branded version.

For half of the nation, this brand-focused buying will take place during their weekly shop, when consumers make a point of purchasing branded products over the supermarket’s own range.

Some of the things Brits will only buy branded – and not unlabelled – include trainers, alcohol and ketchup.

A quarter of the population are also more likely to buy branded deodorant over a supermarket’s own version.

Incredibly, we shell out £258 each year buying branded products over unbranded ones.

Researchers found Heinz, Colgate, Pepsi and Andrex are among those products bought simply because of the strength of the brand name, while shoppers are also firm advocates of Converse shoes, Disney merchandise and LEGO.

And when shopping, additional marketing techniques that firms use as part their overall brand proposition when selling to customers – such as big discounts (43 per cent) and free delivery (36 percent) – are other key tactics that influence buyer behaviour.

A further 35 per cent are often bowled over by particularly good customer service and more than a quarter (26 per cent) said free promotional products are essential marketing tactics that influences customer purchasing decisions.

THE TOP 10 PRODUCTS CONSUMERS WILL ONLY BUY FROM BRANDS

  1. Trainers
  2. Coffee
  3. Shampoo
  4. Deodorant
  5. Alcohol
  6. Tea
  7. Ketchup
  8. Beans
  9. Cereal
  10. Conditioner

MOST POPULAR BRANDS BOUGHT FOR THE NAME

  1. Costa
  2. Cadbury’s
  3. Apple
  4. Samsung
  5. Coca-Cola
  6. Heinz
  7. Amazon
  8. Adidas
  9. Marks and Spencer
  10. Kellogg’s
  11. Nike
  12. Starbucks
  13. Colgate
  14. Sony
  15. Pepsi
  16. Dove
  17. Microsoft
  18. Google
  19. Nestle
  20. Caffe Nero
  21. Andrex
  22. IKEA
  23. Converse
  24. Gillette
  25. Disney
  26. Haagen-Dazs
  27. Calvin Klein
  28. Stella Artois
  29. LEGO
  30. Jack Daniel’s
  31. Ford
  32. BMW
  33. Audi
  34. Gordon’s
  35. Puma
  36. Ted Baker
  37. Budweiser
  38. Michael Kors
  39. Volkswagen
  40. Strongbow
  41. Ray-Ban
  42. Rolex
  43. Dell
  44. Jaguar
  45. BP
  46. Topshop
  47. Shell
  48. Tag Heuer
  49. Casio
  50. Nissan

 

You can view the research findings from the survey in full here.

Leave a comment!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.