In MBLM’s Brand Intimacy COVID Study, the consumer goods industry ranks fifth out of the 10 industries featured. The study analyzes brands based on emotional connections during the pandemic. Hershey’s is the No. 1 category brand, followed by Quaker and Ben & Jerry’s, respectively.
“With stay-at-home orders in place for many states over the past few months, we are separated from working, socializing and the lives we were accustomed to,” says Mario Natarelli, managing partner, MBLM. “As a result, consumer goods have become more essential and a source of comfort. Unlike many industries that have faced hard times as a result of the pandemic, consumer goods has experienced an uptick.”
During the pandemic, more consumers are emotionally connecting to consumer goods brands. In fact, 22 percent more customers are in intimate relationships with consumer goods compared to the previous study. MBLM’s study also reveals that the remaining brands in the top 10 for the industry are Pillsbury, Campbell’s, Betty Crocker, Kellogg’s, Stouffer’s, Nestle and Nabisco. The consumer goods industry ranks No. 1 out of 10 among industries for consumers willing to pay 20 percent more for their products. This indicates that people value these brands highly and are willing to pay more for their favorite consumer goods.
Top intimate beverage brands continue to outperform the leading brands in the Fortune 500 and S&P 500 across revenue growth, profit growth and stock price.
Building and maintaining strong emotional connections with users is a core tenet of Brand Intimacy and is also a key principle for navigating challenging times. Additional significant consumer goods industry findings include:
- Hershey’s remains in first position in the industry, and Quaker moves up to second place;
- Ben & Jerry’s is the top brand for men, replacing Kellogg’s, while women prefer Hershey’s;
- Consumer preference for Pillsbury and Stouffer’s has increased, while preference for Kellogg’s and Nestle has decreased; and
- Consumer goods performs better with women than men and with older consumers versus younger ones.
MBLM also analyzed the industry in an article entitled, “Bonding with Consumer Goods Brands.” The piece looks at how the industry is experiencing an increase in building emotional bonds with consumers during the pandemic and should find ways to reference or reinforce how it has reliably comforted us through this difficult crisis.