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Johannesburg - Those consumer brands which will emerge the strongest from the recession are the ones consumers trust the most, according to Sean McCoy, MD of advertising agency HKLM.
He said consumers usually stick to their favourite brands, even if it costs them more.
"If I can get a Coke, which has been good for a hundred years, even if another brand is cheaper I'd still go for the Coke," said McCoy. "I want to be guaranteed a quality experience."
Doug de Villiers, CEO of Interbrand Sampson, concurred.
"People are massively risk-averse with brands; the risk factor outweighs the small discount," he said. "People would spend a little more on brands that they are comfortable with."
According to De Villiers, trust is a key component to a brand's success. "Some of these brands will perform quite well compared to others," he said.
Yellowwood CEO Ivan Moroke said Outsurance is an example of a brand that has been able to maintain the public's trust.
"Even before the recession, they were making a real difference through their [traffic] pointsmen," he said. "People are seeing that Outsurance is making a rational, real difference to their lives."
The top five global brands, according to a survey done by BusinessWeek magazine, are Coca-Cola (worth $67bn), Microsoft ($57bn), IBM ($56bn), General Electric ($49bn) and Intel ($32bn).
- Fin24.com