Games boost for ‘Brand Britain’
26 May 2012
The Olympic and Paralympic Games are providing a significant boost to ‘Brand Britain’, particularly amongst the growing number of middle class consumers in China and India. A survey of 6,000 consumers by Deloitte, the official professional services provider to London 2012, found that 80% of respondents from China and India are more likely to want to visit Britain in light of the publicity surrounding the Games. More than 60% say they would like to buy more British products, whilst 77% want to learn more about the UK as a whole.
The research also shows that 76% of respondents in China and India associate the Olympic Games with the UK, a higher proportion than consumers elsewhere in Europe or the US. Only the UK’s history, universities and its capital city, London, are attributes more closely associated with the UK in the minds of Chinese and Indian consumers.
Graham Pickett, head of travel, hospitality and leisure at Deloitte, said: “London 2012 clearly provides a direct and immediate opportunity for consumer businesses. However, our research shows the potential is there for a longer term benefit too, but only if companies are prepared to exploit the opportunity.
“As the global population is evolving, so consumer spending power is shifting. The emerging middle classes of China and India are increasingly powerful consumers of Western goods – both as visiting tourists and increasingly as strong consumer markets develop in their home countries. This trend will continue to accelerate over the next few years.”
Compared to Europe and the US, the emerging middle classes of China and India are more likely to associate Britain with luxury brands (78% in India and China v 47% in Europe) and fashion stores (76% v 57%). This view reinforces the success British brands have had in building strong bonds with Asian consumers who have driven a large share of luxury sales growth in recent years.
The impact of the publicity surrounding the Games has not been so pronounced in Europe and the US but even here, around half of consumers surveyed in France, Germany and the US said they are more interested in visiting Britain as a result of publicity surrounding the Games, whilst roughly a fifth would like to buy more British products.
Simon Oaten, director in the consumer business industry at Deloitte, said: “There has always been a strong underlying demand to visit Britain, but London 2012 is giving the UK a shot in the arm. Given the UK economy’s growth prospects, it is important for consumer businesses to develop relationships with overseas customers, particularly from markets such as India and China. Retailers and hospitality operators in the UK who understand the shifting global demographics will reap the rewards. London 2012 provides the UK with a unique moment, a unique competitive edge over other countries.”
Notes to Editors
About the Deloitte Consumer Review research
The research featured in the Deloitte Consumer Review is based on an online consumer survey of 6,000 adults in six markets including: Chain, France, Germany, India, the United Kingdom and the United States, which took place in March 2012.
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities.
Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
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