New research independently commissioned by Barclays Corporate Banking shows that products labelled Made in Britain command a considerably higher premium when sold abroad than those with no declared country of origin.
When consumers in eight key export markets see the Union Flag on a product, their inclination to buy increases. This is especially true in new and emerging markets where two thirds of consumers (64%) would be more inclined to purchase a product carrying the Union Flag.
The report’s findings sought to understand the value of 'Brand Britain' for export purposes in comparison to the brand values of Made in England/Wales/Scotland. The research combined ONS export data with a survey of 7,610 individuals in eight key export markets (France, Ireland, Germany, the USA, Brazil, South Africa, China and Qatar) designed to examine the premium they are willing to pay for different goods labelled as Made in Britain/England/Scotland/Wales.
When labelled as Made in England/Scotland/Wales, goods tend to command considerably lower premiums than Made in Britain. The only case where this is not true is for alcoholic beverages where the branding Made in Scotland adds a greater premium than Made in Britain in several countries, particularly in the USA and Ireland. However, this is not replicated in new and emerging markets where alcoholic beverages branded as Made in Britain commanded bigger premiums in China and South Africa.
The research, which examined product categories including food, drink, fashion, precision tools and automotives, found that: