Turnaround time for Spanish brands
To say this has been a difficult year would be a masterstroke of an understatement. Words like “unprecedented” and “challenging” have been all but worn out through overuse in recent months.
Yet we must still find ways both to describe and understand the trials brands have faced this year – and to guide brands as they make the crucial decisions that will determine how they fare in the months and years ahead.
That’s why this report is not just a celebration of the Top 30 Most Valuable Spanish brands. Nor is it an attempt to explain away the decline in leading Spanish brands’ value this year as entirely a result of COVID-19.
We use this ranking and report to examine some of the consumer and market shifts that are presenting brands with both tremendous challenges and sizable opportunities right now. We discuss what brands can do in order to better understand Spanish consumers, and how they meet their fast-evolving needs.
Our BrandZ™ analysis underlines the importance of being close to consumers and understanding what they need. Brands that offer something meaningful that differs from everything else in the category consistently grow their brand equity – and generate higher returns to shareholders. They also prove to be more resilient in times of crisis.
In the pages ahead, we show marketers and brand builders the factors that inspire consumers to select one brand over another in order to deliver strong shareholder returns for the long term.
We unpick what it takes to achieve “Meaningful Difference”, the importance of innovation in every product and service category, and we look at the changing factors that go into consumer decisions about which brands they can trust, particularly in a COVID-altered climate.
We also put this year’s BrandZ™ data into the context of a world in flux, providing clear, positive and actionable insights that can make a huge difference to brands’ strength today and their ability to withstand future challenges. This is brought to life with real-world examples of local brands demonstrating the very qualities we champion.
No one knows how long this pandemic will last and what the recovery arc will look like, though of course we can hope for a V rather than an elongated U. What we do know is that for brands to get through the next few months, and then to make gains during the recovery, they need to be planning now.
These extraordinary times are having a significant impact on brand choice. As consumers rethink what they buy, what they prioritize, how they work and what they want out of life, brands have much to play for.
We can help
To create this report, some of the brightest minds across WPP and Kantar in Spain have shared their knowledge and on-the-ground expertise in Thought Leadership and Insight articles to guide brand builders.
We are gaining more knowledge and insights day by day, in real-time, so I invite you to view this report as a starting point. I urge you to follow up with the experts who contributed to the report. They continue to monitor the impact of the pandemic on brands across categories and around the world. We have an extensive library of annual BrandZ country reports, as well as our Global Top 100 report, and I invite to you access them with our compliments at BrandZ.com.
One of our key WPP strengths—and a benefit for our clients—is that when we say we cover the world of brands, that’s exactly what we mean. The WPP and Kantar proprietary BrandZ™ database includes information from over 3.8 million consumers about their attitudes about (and relationships with) 17,801 brands across 512 categories in 51 markets. All that produces more than 5.3 billion data points.
In addition to offering a deep and timely understanding of the consumer, this information enables us to guide strategic decision-making, and direct the kind of creative innovation in products, services, packaging and communication that can excite consumers and lift a company’s fortunes. Creativity is what we offer. We can help you create the transformative ideas and outcomes necessary for building valuable brands.
To learn more about how to use our passion for brands to help power yours—especially during these uncertain and trying times— please contact any of the WPP companies and Kantar divisions that contributed expertise to this report. Turn to the Resources section at the end of this report for the contact details of key executives. Or feel free to contact me directly.
CEO The Store WPP, EMEA & Asia
Chairman, BrandZ™ and BAV Group