Google, Amazon, YouTube top India brands

Mumbai: Google has emerged as the most meaningful brand in India, offering strong personal and collective benefits, according to the Meaningful Brands 2023 report by global communications agency Havas.

Google’s presence in everyday transactions including financial services like Google Pay has positioned it as a brand that helps individuals achieve their goals and aspirations, the report said. Amazon and YouTube ranked second and third respectively, highlighting their impact on consumers’ lives and their ability to drive interpersonal engagement, it added.

The study, which surveyed over 91,000 people across 10 markets and 42 categories, highlights a shift in consumer attitudes towards brand purpose and the increasing desire for personalized experiences. Key findings from the study indicate that 73% of brands could disappear today without consumers caring, demonstrating the need for brands to establish personal connections and relevance. A staggering 67% of people expressed a preference for purpose-focused brands over profit-driven ones, while 68% said they would stop buying from firms that don’t respect the planet or society.

Specifically in the Indian market, Havas’ research showed that the most meaningful brands outperform average brands by 39% when delivering personal benefits. Indian consumers believe brands should contribute to their health and well-being, both physically and mentally.

Additionally, brands that exhibit resilience and positivity in the face of crises stand out among consumers.

“The world has changed from 2021 to 2023 and this year’s Meaningful Brands India report couldn’t have come at a more opportune moment,” said Rana Barua, Group CEO of Havas India. “Although we see large-scale global trends emerging, it is the market specifics and category insights that truly set this study apart. Over the years, we have won many key clients on the back of the knowledge we have drawn from this proprietary study, and we continue to leverage it to take action: to bridge the gap between consumer expectations from brands and their experiences.”

The 2023 report focuses on the concept of the ‘Me-conomy,’ emphasising the importance of brands prioritizing individuals and making a meaningful difference in their lives. Consumers are demanding brands that go beyond profit-driven motives and instead contribute positively to their well-being and provide a sense of control.

However, the study also revealed that 58% of consumers feel brands are not transparent about their commitments and promises, and 65% are tired of brands that only prioritise making money. There is a growing desire among consumers for brands to simplify and streamline their lives, offering a sense of control and certainty.

The study also underscored the significance of catering to Gen Z consumers, who value positivity and self-expression. Brands that facilitate meaningful self-expression for Gen Z outperform average brands by 66%. Simplifying and improving consumers’ quality of life was identified as another crucial factor, with meaningful brands performing 60% better than average brands in this aspect.

Sanchita Roy, Chief Strategy Officer at Havas Media India, highlighted the study’s findings as a guide for brands to empower, engage, and enable their consumers.

Anirban Mozumdar, Chief Strategy Officer at Havas Creative India, emphasised the need for brands to deliver personal and immediate benefits, supporting consumers in their quest for health, well-being, and self-expression.