Protesters claim Shell is failing to tackle climate change and the transition away from oil and gas – Copyright AFP Wakil KOHSAR
How valuable is a brand? Answering this very much depends on the economic sector that the brand operates within and the geographic research. Taking the U.K. overall, a new survey finds that Shell leads United Kingdom as most valuable brand while exporters are booming in post-COVID Britain. The survey comes from brand valuation consultancy, Brand Finance.
Shell is UK’s most valuable brand, valued at £36.5 billion (an increase of 13 percent across the past 12 months). That Shell is at the top is despite the challenges of COVID-19, the conflict in Ukraine, and perceptions of corporate sustainability practices in the oil and gas sector increasingly affecting consumer choice.
The reason for Shell’s top sport may relate to the promotion of the company’s energy transition strategy and this seems to be making a positive contribution to the strength of their brand. For example, Shell aims to become a net-zero emissions energy business by 2050, in step with society’s progress towards the goals of the Paris Agreement on climate change.
Taking a different measure of brand resilience, EY retains title of Britain’s strongest brand. EY (brand value up 9 percent to £17.0 billion) is the UK’s strongest brand with a Brand Strength Index (BSI) score of 89.5 out of 100 and a corresponding brand rating of AAA+. The brand strength of EY is boosted by their client focus, with research showing improvements to their already strong customer consideration and satisfaction.
Fastest growing British brands include tech companies ARM and Softcat, pharmaceutical brand AstraZeneca and British Gas. In particular, the fastest growing British brand was found to be British Gas. The value of the company grew by 142 percent to £0.9 billion. Much of the value increase is derived from the addition of over 500,000 new residential energy customers via merger activity, following many energy companies going bust due to escalating wholesale prices.
AstraZeneca will have risen due to its successful development and deployment of a COVID-19 vaccine. This helped the pharmaceutical company’s brand name enter common vernacular in the UK.
Brand values in the British technology sector surged due to massive increases in demand for hardware and services. Both ARM and Softcat have seen large brand value increases (97 percent and 85 percent respectively).
With a rapid riser, Jim Ratcliffe’s strategy of making INEOS a household has been successful. Prior to Jim Ratcliffe’s recent announcement of a potential Cheslea FC bid, petrochemical brand INEOS had kept a low public profile. Recently, INEOS’s campaign of sport sponsorship to quickly raise the profile of the company while adopting the brand values that sports and their teams provide through such partnerships.
Elsewhere, the home delivery of food has increased substantially in the United Kingdom. Just Eat Takeaway.com is now worth more than double Deliveroo which may validate its focus on partnering with a wide range of local restaurants.
To develop the data, Brand Finance put 5,000 of the world’s biggest brands to a test and used different criteria to rank brands across all sectors and countries.