This is the most transformative era in the history of British goods and those brands that are doubling down, investing in their businesses and evolving with the times are thriving.
Willingness to adapt to changing market conditions and provide a positive customer experience are among the traits required for British Brands Awards finalists to be successful. Others include the creation of a digital experience that complements the physical presence and the ability to connect positively with customers.
The general situation for British Brands market is unclear due to Brexit and the pandemic. One of the most important drivers for a flourishing British market in the next year will be tourists, and if lockdowns are fully lifted, it will mean that many will be travelling to the UK in large numbers, and taking advantage of the weak pound and favourable exchange rates. Another favourable trend for the British brands is reputation of British brands for exceptional quality and workmanship.
The internet has become an integral part of the purchasing habits of various groups of consumers worldwide. However currently, British sales growth is being driven by millennials and Generation Z. With different expectations, younger shoppers seek a personalised shopping experience that seamlessly integrates both online and off-line platforms.
This shift has motivated demand for connective technology such as Augmented Reality (AR) and Artificial Intelligence (AI). By using AR and AI technologies, British brands can provide a personalised consumer experience, reach a wider audience, deepen product experience, and build stronger customer relationships. In parallel, the development of technologies such as voice commerce and the Internet of Things (IoT) are reshaping the entire British brands industry.
British brands positioned as reliable sources of AI-driven recommendations are improving how they engage with consumers. More widespread adoption of AI is also making consumers increasingly reliant on suggestions and advice provided by their various devices, rather than making decisions based on personal experience..
So far, relatively few personal British brands have used AR apps, with the most widespread use taking place in the makeup sector. The adoption of the AI- and AR-driven technology for the whole British sector is not so fast as the market was expecting, because the larger players have complex cost structures and the return on these technologies could not outweigh the cost of investment in them. Despite this, big British groups should be aware of digital transformation in retail technology, which is changing how consumers shop and driving growth of independent British brands.
The brands recognised within this year’s Great British Brands Awards are transforming the retail experience by creating a store of the future and building diverse teams built on sustainable values which attract the best and brightest from around the world.
Until now it has been hard to identify the best companies when it comes to British brands. The Great British Brands Awards will provide a long-awaited index of the most proactive British brands in the UK and will shine a light on best practice across all strands including, customer service, engagement, digital impact, communication with internal and external stakeholders, supply chain sustainability, product quality continuity and international sales.
The Exceptional Organisations and Leadership publication will be launched within a high-quality silver foiled publication. The companies featured within the final report will then be reviewed and a number will be shortlisted to receive a prestigious British Brand Award.
The Great British Brands Awards presentation will take place at a star-studded reception in Central London and it will, without doubt, catch the attention of the local, national and international media. Key influential decision makers will be in attendance to witness this exciting launch and the initiative will herald a new era for promoting Britain’s leading brands.