A study by Kantar Worldpanel has found that local brands are outstripping growth of global brands. While global brands grew 2.6%, the study found that local brands grew 3.9% in 2016. Local brands are particularly strong in the food category, being chosen in 74% of purchases. It also found that the price gap between global and local brands has narrowed to the point of disappearing. No longer does being a global brand automatically command a price premium.
A study by Kantar Worldpanel has found that local brands are outstripping growth of global brands. While global brands grew 2.6%, the study found that local brands grew 3.9% in 2016. Local brands are particularly strong in the food category, being chosen in 74% of purchases.
It also found that the price gap between global and local brands has narrowed to the point of disappearing. No longer does being a global brand automatically command a price premium.
Global brand owners are having to work harder to convince consumers that a global choice offers additional reassurance of quality and confers prestige.
The consumer insights group also quantified the value of the average branded consumer decision at $1.92. That is the average cost paid by shoppers each time they choose a brand however decisions to buy food brands are generally worth less than health and beauty products.
Coca-Cola remains the world’s most chosen brand with a global penetration of 42% while in 9 countries, penetration rises to over 80% of the population.
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