Continuing momentum as recession bites
In 12 months’ time, when it comes to compiling the best performing brands of 2021, the context in which those brands have thrived will hopefully be very different to this year. But there’s every reason to believe the drivers of their success will be much the same.
For brands, having flexible plans will continue to be essential to navigating any bumps we encounter on our road out of the pandemic. The consumer trends that brands needed to capitalise on to find new buyers shifted over the last 12 months, but were not fundamentally reinvented. We can expect more of the same in the year ahead: • Wellbeing, both physical and mental, has only become a bigger factor in how consumers choose to spend their time and money. • The same is true of sustainability, with government, industry and consumers themselves expecting more action from brands. The UK is hosting the 26th UN Climate Change Conference (COP26) in Glasgow in November this year – a clear indication that the government will continue to push the sustainability agenda. • With the forecast of tougher economic times ahead, history tells us that how brands frame the value that they offer to consumers will become a more significant factor in their success. • With tough times, also comes a greater need for little moments of joy, and the success of brands that have delivered that in 2020 is something we can expect to continue. If we have learned anything from the past year, it’s that nothing is a given. But as we look ahead, the success stories of 2021 and beyond are likely to be built on these foundations.
