Beverages Ranks Seventh Out of 10 Industries Analyzed
NEW YORK — January 26, 2021 — Since the start of COVID-19, the beverage industry’s performance has increased by nearly 10 percent, according to MBLM’s Brand Intimacy COVID Study, which analyzes brands based on emotional connections during the pandemic. Although the beverage industry placed seventh out of 10 industries, its improved performance signals these brands have remained important to consumers during challenging times.
Coca-Cola ranks #1 in the industry and 21st overall. With alcohol brands experiencing an increase in sales during the pandemic, rising 27 percent year over year, Jack Daniels ranked second in the industry, up from 6th place in our previous study. The remaining top 10 includes Mountain Dew, Pepsi, Coors, Snapple, Heineken, Miller and Tropicana.
As people spend more time at home, more consumers are bonding with beverage brands. Sharing, the earliest stage of Brand Intimacy, has increased by 23 percent. Additionally, consumers are 20 percent more likely to pay premium prices for beverages than other industries.
“People have connected with beverage brands more than in previous years, although there is opportunity for greater improvement,” said Mario Natarelli, managing partner, MBLM. “As we sought at-home entertainment and ways to recreate the restaurant experience during quarantine, many beverage brands found new ways to define their relationship with consumers, moving away from images of parties and social gatherings. Those that established the strongest emotional connections during COVID-19 will maintain their stronghold as providing comfort even when we return to normal life.”
Top intimate beverage brands continue to significantly outperform the leading brands in the Fortune 500 and S&P 500 indices 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 beverage industry findings include:
MBLM also analyzed the industry in an article entitled, “The Increased Intimacy of Beverage Brands.” The piece looks at how the industry provided comfort during these trying times, as well as how brands spoke to consumers, with sustainability, community support, personal responsibility and wellness as top themes.
To view the beverage industry findings, please click here. Additionally, MBLM offers Custom Dashboards providing extensive data for brands included in its Brand Intimacy COVID Study. To download the main Brand Intimacy COVID Study report or explore the Rankings, click here.
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About MBLM: MBLM has invented a new marketing paradigm, Brand Intimacy, delivering expertise and offerings across three areas of focus: Agency, Lab and Platform. With offices in four countries, our multidisciplinary teams help clients build stronger bonds and deliver optimized marketing outcomes and returns for the long term. To learn more about how we can help you create and sustain ultimate brand relationships, visit mblm.com.