The latest Brand Footprint Study by Kantar World panel is now launched, recognizing the top 10 FMCG brands on the basis of 12 month performance based on Kantar LMRB Household Panel, the iconic study which monitors consumer purchase behavior of FMCG brands brought into the home.
The Global Brand Footprint Study analysed one billion households across 43 countries in five continents involving over 300 billion shopper decisions, among 15,300 brands across 200 FMCG categories covering 73 percent of the global population.
“Sri Lanka is in the study for the second time, covering over five million households island-wide, with 400 brands and 1.4 billion shopper decisions,” stated Kantar LMRB Chief Executive Himalee Madurasinghe. “According to the global report, even in uncertain and challenging times, strong brands growth remain rooted as they continue to be chosen more times, by more buyers. They use intrinsic consumer understanding to continue to be relevant to the consumer. “This could be a good measurement to assess the success of a brand among its consumers, and is an independent view based on consumer behavior. To the marketer this would reflect on the effectiveness of its activity done to sustain the brand,” added Himalee.
Global report reveals, despite the market challenges the fundamentals for brand growth remain constant. The fact that brands are finding ways to grow in difficult circumstances display there is always headroom for growth. Brands whilst being true to it’s loyal base need to concentrate on reaching new customers – their ‘non-shoppers’ – in order to flourish. The prize for finding these new customers is considerable; just a one-percent point increase in global penetration will win a brand 11 million additional
The study used its proprietary metric – Consumer Reach Points (CRPs) – to discover how many times a brand was chosen by consumers over the course of
CRP is measured by looking at how many households are buying a brand (penetration of a brand) and how often they are buying it (frequency of purchase) – this displays the amount of closeness that consumers have with the brand and provides a true representation of shopper choice.
Kantar LMRB Household Panel Head Chamika Fernando explained that every household buys a repertoire of brands, which means that at each and every occasion there is chance that the household might purchase any brand. To increase the chance of a specific brand being picked up, brands must ensure that they are available and relevant in as many moments of consumption as possible. This could be by creating new formats and flavours that are consumable in a wider range of occasions broadening a brand’s appeal. She also added that this ranking is also available across sectors such as food, beverages, health and beauty and home care sectors covering over 45 FMCG categories covered through Kantar LMRB Household Panel.
Every year Kantar Worldpanel conducts the most exhaustive study of FMCG brands across the globe, helping marketers, brands and agencies identify strategic levers that brands can pull in order to make business decisions that will lead to success.