AI won’t replace market research. But it will expose weak strategy
Much of the broader conversation around AI in market research assumes conditions that do not consistently exist across many African markets, writes Soyinka Witness.
BRAND VALUE
SA's digital-first brands dominate Valuable Brands list
By our News Team | 2021
Banking giant FNB is South Africa’s most valuable brand for second successive year, according to Kantar BrandZ.
First National Bank (FNB) retains top position with brand value of US$2.7bn
Takealot enters the ranking at No.23 with a brand value of US$446m
Against a backdrop of global and local crises, South African brands have proven remarkably resilient in 2021 and are well on the road to recovery, reflected in the cumulative value of the 2021 Kantar BrandZ Most Valuable South African Brands ranking, which this year stands at US$28.8bn.
According to Kantar, it highlights the power of brand resilience in the face of macroeconomic turbulence and pandemic effects and we are starting to see a reversing of the long-term trend of steep erosion of brand value in South Africa.
FNB is SA’s most valuable brand for the second year running with a brand value of US$2.7bn. Vodacom moved up the ranking to No.2 with a brand value of US$2.57bn, while Castle beer held steady at No.3 with a brand value of US$2.52bn.
Emerging ecommerce giant Takealot is this year’s only new entrant at No.23 with a brand value of US$446m.
The rapid adoption of ecommerce during the pandemic saw brands accelerate towards digitisation. Responding quickly and decisively to the pandemic, the fastest rising brand was health and insurance giant Discovery at No.7, with a brand value of US$1.38bn. This is a 26.6% increase in brand value.
Key trends
Trends and highlights in this year’s Kantar BrandZ Most Valuable South African Brands study include:
- FNB’s performance as top brand is based on a strong focus on digital innovation pre-pandemic and strong consumer understanding.
- The ranking of this year’s only new entrant, Takealot, was due to its accelerated digitisation and rapid advance of ecommerce during the pandemic.
- Discovery was this year’s biggest improver, with a 26.6% increase in brand value.
- Discovery, Capitec Bank and Absa bank bucked a declining trend in financial services with a 26.6%, 10.4% and 3.2% growth in brand value respectively.
AI search behaviour by SA consumers more than doubled in a year
Consumers are asking AI which retailer offers the best deal, comparing products or researching brands before visiting a website or store.
Port of Mombasa embraces integration and technology-driven solutions
Kenya Ports Authority is working to improve cargo flow and efficiency to support growing trade volumes at vital import-export gateway.
Brands must deliver sustainability through actions, not words
African consumers want ethical, responsible choices. Therefore, brand growth hinges on making sustainable choices affordable and relevant.
Africa’s next competitive advantage isn’t AI. It’s commercial capability
Examining the tech-hype trap and why human judgement, not technology, will pave the way to competitive advantage in Africa.
Former AGB Nielsen commercial lead Hopolang Mothibeli joins Ornico
Strategic senior appointment comes at a time when the local advertising-intelligence landscape is entering a period of significant change.
From inflation to consumption: West Africa’s FMCG turnaround
Ghana has shifted decisively into consumer-led recovery, with Côte d’Ivoire and Cameroon following more gradually.
‘New direction’ for the integration of African marketing and business
AMC President discusses the upcoming conference’s ‘full circle’ and the gathering’s role in navigating marketing’s paradigm shift.
Retailers are re-engineering the checkout – and removing friction
Africa’s retail future may be led not by size, but by those who most effectively remove the friction between customer intent and transaction.
Netflix puts a live actor inside an LA billboard for three days
Out-of-home brand activation above Sunset Boulevard draws attention to a new science-fiction thriller film about a family stuck in a house.
Roxana Ravjee joins Havas as its new CEO for the Africa region
She comes to Havas as a business leader with more than 20 years of expertise across marketing, advertising, transformation and growth.