Four years after facing unprecedented challenges due to the pandemic, the hotel industry continues to struggle with lingering effects on brand value and strength.

As of 2024, according to Brand Finance, the total brand value of the world's top 50 most valuable hotel brands stands at USD 56.8 billion, a significant drop from the pre-pandemic figure of USD 70.2 billion in 2020​. It’s a stark lesson for sector-marketing decision-makers about the long-term and costly effects of scaling back marketing investment to cut expenses in the short term.

Cost-cutting and consequences

In times of economic crisis, marketing budgets are often among the first reductions as organizations seek to conserve cash and mitigate financial strain, which is precisely what unfolded during the pandemic, as many hotels slashed their marketing spend because tourism and corporate travel ground to a halt. While these budget cuts provided immediate fiscal relief, they have had more significant long-term repercussions for brand health and market positioning.

Reduced marketing investments can impair a brand’s visibility, making it challenging for hotels to attract and retain new customers. Meanwhile, brands that maintain or only slightly reduce marketing efforts can sustain higher levels of brand awareness, a significant advantage when competing for business against brands that dramatically scale back.

Furthermore, as consumer interactions increasingly migrated online during the pandemic, hotels that neglected digital marketing and customer engagement tools were at a disadvantage. Diminished focus led to missed opportunities to communicate safety measures and reassure guests.

Notably, budget reductions and staffing cuts in marketing departments made it more difficult for hotels to recover swiftly and effectively once the market rebounded. This talent drain highlights the broader implications of cutting marketing budgets, underscoring the critical role sustained marketing efforts play in a brand’s resilience and recovery.

Impact of marketing cuts

Brand Finance conducts extensive market research annually across the hotel sector, examining 155 hotel brands in 21 countries. This research involves surveying consumers on various aspects of brand perception, including Familiarity, Awareness, Consideration, and Reputation. To understand the pandemic's impact on consumer perceptions, we cross-analyzed this data with financial reports from over 120 global hotels, revealing insightful trends.

Our analysis showed a considerable drop in marketing spend across the board. On average, marketing expenditure decreased 27% from 2019 to 2020 (Figure 1) as hotels sought to offset the dramatic fall in revenue during the early stages of the pandemic. This reduction had far-reaching implications for brand perceptions. Among hotel brands researched in the United States, Familiarity and Consideration experienced an average decline of 18% between 2020 and 2021.

Our findings revealed that hotels with higher levels of Familiarity were better positioned to withstand the initial impact of the pandemic and recover more quickly. Among US hotels, Holiday Inn led with an impressive average Familiarity of 80% from 2020 to 2023. Hilton, Marriott, Hampton Inn, and Comfort Inn also performed strongly, maintaining Familiarity levels of around 70% during the same period.

Figure 2 demonstrates that hotels with relatively higher Familiarity, established through long-term brand-building, are more resilient during periods of lower marketing spend. While hotels with high (green) and average (blue) Familiarity have now returned to and even surpassed their pre-COVID Familiarity levels, hotels (yellow) with lower Familiarity are still struggling to reach their pre-COVID levels.

In contrast, brands with lower Familiarity levels experienced more pronounced declines and slower recoveries. For instance, Ibis averaged only 25% Familiarity over the three-year period.

The luxury segment also faced substantial challenges. Mandarin Oriental saw its Familiarity drop significantly from 38% to 29% between 2020 and 2021, reflecting a similar decline in marketing spending, which decreased by 19% in 2020 and 34% in 2021. Despite a rebound in marketing efforts since 2022, the brand has struggled to recover fully, achieving just 33% Familiarity in 2023, still five points shy of its 2020 level.

Marketing spending isn’t the only way to maintain visibility: Hampton Inn demonstrated resilience during the pandemic through community-supportive initiatives, such as housing soldiers. Similarly, Days Inn maintained stability by offering lower rates for hospital workers during the early stages of the pandemic.

Consideration trends mirrored those of Familiarity but showed milder fluctuations (Figure 3). Hotels with the lowest Consideration levels saw the most significant initial drop but recovered slightly faster later in the pandemic. Consideration levels have rebounded considerably, with an average increase of 30% from 2022 to 2023, due to a surge in consumer enthusiasm for travel and the desire to combine remote work with leisure travel. This resurgence presents a prime opportunity for hotel brands to intensify their marketing efforts to attract and engage consumers more effectively.

In the luxury segment, hotels experienced a more substantial decline in Familiarity levels compared to their non-luxury counterparts. This decline is primarily due to the severe impact on tourism since luxury hotels mainly cater to leisure travelers and thus faced a more significant drop in demand. Brand Finance's research indicates that luxury hotels saw a 23% decline in Familiarity from 2020 to 2021, while non-luxury hotels experienced a smaller decrease of 15% during the same period (Figure 4). Leisure hotels suffered the most, with a 26% drop in Familiarity, compared to smaller declines in business and mixed-purpose hotels (Figure 5).

However, in the post-pandemic period, luxury hotels are recovering more quickly than non-luxury hotels. This trend highlights the elastic nature of demand within the luxury segment, which appears to be rebounding faster as travel restrictions eased and consumer confidence returned.

The importance of consistent marketing

The importance of consistent marketing cannot be overstated. Sustained marketing investment is essential for robust brand building. Short-term marketing tactics may yield temporary sales boosts, but they must be combined with longer-term brand-building activities to contribute to the enduring strength of a brand and improve future earnings.

Consistent marketing fosters consumer loyalty and reinforces brand resilience in competitive industries. Consistency in messaging strengthens brand identity and nurtures a strong connection with consumers. Regular advertising campaigns maintain brand visibility and remind consumers of its value, fostering loyalty and attracting new customers. A cohesive brand story across multiple channels builds a recognizable and trustworthy image, driving consumer preference and loyalty.

Long-term marketing investments require comprehensive data collection and analysis so brands can understand consumer behavior and refine their strategies accordingly. Ongoing engagement allows brands to adapt swiftly to changes in consumer needs and market conditions. In times of crisis, an established presence and consistent communication build trust and credibility, crucial for maintaining customer loyalty.

Looking ahead: strategies for hotel executives

As the hotel industry navigates its path to recovery, it is essential to recognize that the road ahead requires more than simply resuming operations. Rebuilding consumer trust and adapting to evolving market conditions are crucial for longer-term success. The following strategies provide an approach to achieving these goals:

1. Reinvest in marketing but revisit the strategy

Allocate resources to consistent and strategic marketing efforts. Effective marketing campaigns are vital for enhancing brand visibility and engagement. Hotels should focus on developing and executing campaigns that address current challenges and build a robust brand presence. Investing in marketing will help restore Familiarity and Consideration and create a competitive edge in a recovering market.

• Leverage data-driven insights

Utilize market research and data analysis to understand consumer segmentation, behavior, and preferences. By tailoring marketing strategies based on actionable insights, hotels can better meet the needs of their target audiences. Data-driven decisions enable hotels to refine their approaches, optimize marketing spend, and respond more effectively to market trends.

• Embrace digital transformation

Invest in digital marketing channels to reach a broader audience and stay relevant in an increasingly online world. Leverage social media, content marketing, and online advertising to enhance brand presence and engage with potential and existing customers. Embracing digital tools meets modern consumer expectations and positions hotels as innovative and adaptive to changing market conditions.

• Focus on customer experience

Prioritize customer satisfaction and experience to foster positive interactions and build long-term loyalty. Exceptional customer experiences lead to word-of-mouth recommendations and repeat business. Hotels should invest in staff training, personalization, and high service standards to ensure guests have memorable stays and encourage return visits and referrals.

• Incorporate sustainable practices

Integrate sustainability into brand strategy (as appropriate) as consumers increasingly value environmentally responsible brands. Brands that implement and report their eco-friendly practices meet the growing customer demand for sustainability, enhance brand reputation, drive consumer preference, and boost loyalty. However, ensure that actions genuinely live up to or surpass communications to maintain credibility and trust.

• Rebuild consumer trust

Restore consumer trust with transparent communication about health and safety measures. Hotels should convey their commitment to guest safety and hygiene through consistent messaging. Effective communication can help reassure travelers and rebuild confidence, which is essential for attracting guests as the industry recovers.

• Enhance brand loyalty

Strengthen loyalty programs and engage with guests through personalized rewards and targeted offers. Consistent engagement and value-added incentives can drive repeat business and reinforce brand loyalty. Building a robust loyalty program can help hotels maintain a strong connection with customers and differentiate themselves from competitors.

• Adapt to changing expectations

Understand and address shifting consumer expectations, such as the demand for flexibility and unique experiences. Adapting to these changes will allow hotels to meet evolving traveler needs and stay competitive. Flexible booking options, personalized services, and unique experiences can help hotels remain relevant and appealing.

• Navigate the competitive landscape

As competition intensifies, hotels must leverage their strengths and differentiate themselves through unique offerings and consistent branding. Staying attuned to market trends and consumer needs will enable hotels to effectively navigate the competitive landscape and position themselves for long-term success.

Resilience and Recovery in the Hotel Sector

The hotel sector has long been acquainted with the disruptive impact of uncontrollable crises - from civil unrest to health emergencies to climate change - profoundly affecting operations and revenue streams. The emergence of the COVID-19 pandemic has been no exception, magnifying the industry's vulnerability to public health emergencies. Amid the complex interplay of financial challenges stemming from enforced closures and cancellations, and the task of protecting brand reputation in the face of a global crisis, the pandemic has served to spotlight the sector's resilience.

In 2020, Brand Finance's analysis projected a potential brand value loss of up to US$14 billion for the world's top 50 most valuable hotel brands - a 20% decrease in total brand value[1]. This estimate turned out to be conservative, as the collective value of the top 50 hotel brands dropped by an even more substantial 33%, falling from US$70.2 billion in 2020 to US$47.4 billion in 2021[2]. The recovery of brands across the sector has been mixed, with 54% of the top 50 not yet attaining their pre-pandemic brand value levels in 2023[3]. The United States, however, has experienced a swift rebound in hotel room revenue, rising from US$86.0 billion in 2020 to US$142.9 billion in 2021 to US$189.1 in 2022, surpassing the 2019 pre-pandemic level of US$170.4[4].

In the hotel industry, the ability to weather such monumental disruptions underscores the significance of trust, credibility, and reputation. Yes, demand is pent-up. However, the moment a brand does not rise to meet the occasion is indeed the moment it collapses. Maintaining credibility and safeguarding reputation during and post-crises not only impacts immediate revenue but future revenue as a brand will surely see changes in its next brand equity research report. Resilience hinges upon the strength of these base elements, ultimately charting the trajectory of brands and an industry's revival and resurgence.

What does research tell us?

Every year, Brand Finance conducts a comprehensive market research study encompassing the hotel sector, spanning 10,000+ respondents across 21 countries. Within this, we assess the top drivers of consumers’ Consideration, Reputation, and Loyalty. Expectedly, ‘trustworthy’ features as a top 5 driver of all three metrics - ranking as the top driver for Loyalty and second for Consideration. ‘Great customer service’ is the only other attribute that features across all three metrics. ‘Great value for money’ is the biggest driver for Consideration - marginally ahead of ‘trustworthy’. Given the importance of Consideration for driving revenue, it is crucial to understand these drivers. While ‘trustworthy’ extends across the entirety of any relationship and is critical for any brand, ‘great value for money’ has certainly more depth than just being about a good deal. It sets an expectation that for whatever price paid (and in the hotel sector, that range can be quite large!), the consumer expects value from it. In other words, a brand must deliver against what it promises, to demonstrate credibility as well as to earn guest satisfaction and even delight.

Building Trust, Credibility, and Reputation for Business Growth

The bedrock of building and nurturing guest trust and satisfaction rests on the consistent delivery of (exceptional) service. It's not just about meeting expectations, but often going beyond - anticipating needs, promptly addressing concerns, and creating tailor-made experiences that resonate with guests. This commitment involves empowering staff with the right tools, training, and technology to handle everything from complaints to personalized (little) surprises. It all adds up to establishing an emotional connection that fosters loyalty, key to forming the foundation of a successful hotel operation. Below, we explore the key components that contribute to this guest-centric ethos:

1. Collaborative Excellence: The synergy among front desk personnel, concierge teams, and housekeeping staff is pivotal in achieving guest satisfaction. Clear standard operating procedures provide consistency yet should provide the flexibility necessary that can elevate the guest experience when the situation demands.
2. Impeccable Facilities: Maintaining ‘on brand’, comfortable, and secure facilities is fundamental to building trust and credibility. Attention to detail - from the type of linens to the style of the décor to the layout of the room – are just a few examples of brand touchpoints that reinforce and represent an opportunity to showcase the brand. Modern amenities, entertainment options, and high-speed Wi-Fi are now expected regardless of the type of hotel, while well-designed fitness centers, pools, restaurants, and common areas are ways for some brands to extend the experience and make it their own.
3. Perceived Value: Strategic pricing strategies and thoughtful packages play a crucial role in shaping guests' perception of value. Offering value-added amenities such as complimentary breakfast, parking, and gym access enhances the guest experience without increasing costs too significantly. In other words, offering higher-value and valuable amenities that are lower cost can be a win-win - the wider this value-cost gap, the bigger the win for both hotels and their guests.
4. Innovative Engagement: Mobile apps and self-service kiosks have become ubiquitous and are now true table stakes. Yes, they add convenience, but it is their integration into the overall customer journey as well as the brand’s investment in them that can drive value. First, it demonstrates the brand's commitment to innovation. Second, operationalizing the data into something that feels personal helps guests feel valued. And finally, apps, in particular, represent the kind of touchpoint with which a guest can interact easily and often, helping to strengthen the relationship by simply ‘being there’.
5. Intelligent Partnerships: When and where possible, collaborating with third-party entities like luxury spa providers or local businesses and organizations can enhance the on-site experience. Partnerships can serve to strengthen ties between the brand and the local community, as well as to provide guests with authentic local experiences, catering to their diverse preferences.
6. Feedback Loop: Actively seeking guest feedback both throughout their stay and after their stay is one thing. Demonstrating responsiveness and dedication to improvement is another. Surveys and social media monitoring help assess whether expectations were met, evaluate customer service quality, and measure site cleanliness – the key is demonstrating back to guests that their feedback was considered and actioned. Quarterly or semi-annual updates that highlight changes or key actions resulting from feedback can reinforce to guests that just a few minutes in answering that survey matter, further giving credibility to the brand.

Fostering Repeat Visits and Advocacy

While the acquisition is the first crucial step in cultivating repeat customers, true revenue enhancement comes from building and realizing customer loyalty and retention. It's widely recognized that, on average, obtaining a new customer costs more than retaining an existing one. Nurturing a relationship with a customer often leads to repeat consideration and stays and usually, increased spending on products and services within the hotel.

Loyalty programs are powerful aids to engender that loyalty and keep it. They represent a treasure trove of customer data and often a user/ guest base that is eager to work with the brand. Some programs are quite large - as of 2022, Hilton Honors had more than 118 million members globally, Marriott Bonvoy 160 million, and World of Hyatt more than 30 million. These programs nurture repeat visits by extending incentives such as points, bonus opportunities, special rates, upgrades, and exclusive experiences.

Consistently delighting guests triggers positive word-of-mouth endorsements and cultivates a favorable reputation, which can drive down new guest acquisition costs and minimize loyalty costs. Strategic utilization of reviews on the brand’s website and other online travel agency sites enhances the brand's standing and can convert browsers into confirmed bookings. Tactful and professional responses to negative feedback effectively mitigate potential damage. All of which is to say that building up and actively managing the customer relationship is crucial to generating financial value.

The Influence of Robust Reputation

The luxury hotel segment has both the advantage and disadvantage of being known for, well, luxury. Interestingly, ‘luxurious’ is a top driver of both reputation and loyalty across the sector, clearly driven by those guests who stay at luxury hotels, but who are nonetheless emphasizing the high expectations for delivering against that requirement. It indeed translates into a virtuous cycle in which the luxuriousness claimed is perceived, reinforced, and reinvested - ultimately enhancing reputation and loyalty.

An interesting result of creating a powerful brand reputation is that it can significantly reduce dependence on third-party travel sites, leading to increasing its direct bookings (website, app, direct property contact). This can lower the cost of each booking (especially, new) and creates higher revenues for the brand itself, creating the opportunity to not just get the “R” from ROI but to reinvest in the brand to generate improved financial performance.

The Synergy of Technological Innovations and Best-in-Class Service

Incorporating the latest technological advancements can greatly enrich both guest experiences and hotel operational efficiency. From offering ways in which guests interact to how they expect the hotel to take care of them, mobile applications will run a gamut of features. Not only are effortless booking and swift check-in procedures mandatory, but everything from seamless service requests to maintaining required levels of health and safety will introduce a new gold standard not only in luxury hotels but across all segments of the industry.

Artificial intelligence-powered chatbots serve as a valuable complement to human staff, effectively handling common guest inquiries. The advent of digital keys via smartphones streamlines the check-in process, allowing guests to proceed directly to their rooms. A standout example is Hilton's Digital Key, which has been implemented in over 80% of Hilton's properties, resulting in over 135 million guestroom doors opened as of October 2021.

Self-service kiosks further facilitate frictionless check-in and check-out processes. Automated technologies also extend baggage handling and concierge services, enhancing the guest experience.

Behind the scenes, sophisticated revenue management software optimizes dynamic pricing strategies ideally discovering that sweet spot that manages the value expectation of the guest while ensuring the property can deliver against its performance objectives. Data analytics emerges as a tool, guiding strategy formulation, driving personalized interactions, and optimizing the guest value-property performance juxtaposition.

Investments in employee development and a nurturing corporate culture lay the foundation for exceptional service. Hilton runs its Hilton Team Member Engagement initiatives, as well as its Thrive benefits, which are aimed at supporting and empowering its team both personally and professionally. Comprehensive omnichannel training prepares staff members for diverse guest interactions. Last year, Hilton also partnered with Guild Education to provide its team with a top education platform that offers a variety of learning offerings for free. How an organization trains and develops its staff (on the inside) is usually a reflection of how well they deliver to the guest (on the outside).

Sustaining Long-Term Business Impact and Brand Value

Hotels (regardless of type!) that consistently deliver outstanding guest experiences are optimally positioned to leverage their earned brand equity to maximize occupancy rates and fuel sustained revenue growth. With competition intensifying and consumer expectations continually evolving, strategies to elevate trust, enable delivery against expectations, and strengthen guest relationships become paramount. The brands that win in these areas foster the kind of reputation, consideration, and loyalty that ultimately translate to the business and brand performance that hotels seek.

ENDS

[1] https://brandirectory.com/rankings/hotels/2020

[2] https://brandirectory.com/rankings/hotels/2021

[3] https://brandirectory.com/rankings/hotels

[4] https://www.ahla.com/sites/default/files/AHLA.SOTI_.Report.2023.final_.002.pdf

Reprinted from the Hotel Business Review with permission from www.HotelExecutive.com

Recent events surrounding Bud Light's marketing partnership with transgender TikTok star Dylan Mulvaney have sparked vigorous discussions regarding the potential impact on the brand's reputation and strength. Bud Light, aiming to showcase its commitment to greater inclusion and diversity in brand marketing, tapped into the growing influence of social media platforms and sought to engage with a diverse set of consumers. However, this collaboration has instead led to a damaging fallout for what was once America's favorite beer brand.

In this instance, the initiative was perhaps at odds with the original Bud Light brand with its classic blue-collar appeal and perception. This triggered an initial conservative-led backlash and quickly stimulated an over-reaction from the brand, which in turn upset and alienated the very audience that Bud Light was trying to include. Perceptions matter and with every generation prepared to mobilize around their social medium of choice, missteps travel fast.

Assessing the Impact on Brand Strength and Brand Value

The fallout from Bud Light's controversial marketing campaign with Dylan Mulvaney has had significant repercussions for the brand, resulting in its dethronement as America's top-selling beer after a remarkable two-decade reign. This swift decline serves as a stark reminder of the complex and sometimes compounding media dynamics at play.

Brand Finance employs a comprehensive approach to evaluate brand strength, incorporating metrics such as marketing investment, stakeholder equity, and business performance, all of which contribute to the overall brand value. When assessing the aftermath of a controversy, it is essential to consider both short-term and long-term effects on brand strength.

In the case of Bud Light, while the campaign may have initially garnered increased promotion and heightened ad recall, we must acknowledge the potential detrimental effects on brand strength. Consumers may now question their association with Bud Light, leading to decreased consideration, reduced recommendation, and diminished brand loyalty among certain segments. The controversy may have also tarnished the brand's reputation, as some consumers may view Bud Light less favorably.

For brand value, Brand Finance's valuation methodology considers annual performance, allowing ample time to observe meaningful changes in brands over time. By focusing on long-term trends rather than recording fleeting highs and lows, Brand Finance provides a comprehensive evaluation of brand value. As of 1^st January 2023, Bud Light holds the position of the world's fourth most valuable beer brand, with a brand value of US$5.9 billion. However, it is in the upcoming valuation where the true impact of the scandal will be reflected in its performance, providing insight into the repercussions on Bud Light's overall standing.

Recovery: A Key Component of Brand Value

The path to recovery holds greater significance than the crisis itself in determining a brand’s value and strength. Bud Light now faces the challenge of getting back to basics, regaining trust, and re-establishing its market position. This necessitates increased investment and a more meaningful engagement strategy to reconnect with its core audience. In a recent announcement, Anheuser-Busch CEO Brendan Whitworth revealed plans to triple their investment in the brand for the remainder of the year.  

Proactive crisis management and a swift response is vital when a controversy arises. By promptly addressing the concerns, offering genuine apologies, and maintaining transparent communication, brands can mitigate the potential damage and demonstrate their commitment to rectifying any missteps. This proactive approach to crisis management is vital in safeguarding brand value and reputation.

Going beyond tokenism

Brands must strive to establish a genuine connection with their target audience based on enduring needs and perceptive insights. Authenticity is not just a buzzword; it is fundamental in building brand strength and loyalty. Brands that successfully navigate the changing tides of consumer preferences understand the importance of staying true to their roots and core category motivations. People are drawn to authenticity, and they seek brands that align with their values and needs. Identifying and owning a core need state such as ‘reward’ or ‘recognition’ is clearly central to any marketers’ thinking. Turning this into a brand awareness ‘multiplier’ requires finding a compelling, empathetic, and inclusive creative vehicle to illustrate how Brand X can fulfil that user’s requirements to create a memorable story.

In the case of Johnnie Walker Red Label, a global brand team used qualitative research groups and depth interviews to uncover and refine a core positioning concept for the brand around ‘dedicated progression’. This was a first for JWRL as previously it had been running five regional campaigns using different insights. The task at hand was to find a unifying and universal core need state – a highest common motivator rather than a lowest common denominator and then dramatize this with a powerful creative application that would create impact, affinity and talkability. The result led directly to the first ever global campaign for the brand - ‘Keep Walking’.

Modelo Especial takeover

Mexico’s Modelo Especial has overtaken Bud Light in sales in America and presents a compelling narrative of strategic adaptation and market expansion. Initially catering to the preferences and needs of the Hispanic market, Modelo Especial astutely recognized the value of tailoring its brand to specific consumer segments. However, in 2015, the brand decided to broaden its appeal to the wider population, through running ad campaigns in English and partnered with sports teams in the areas where it performed well. This shift allowed Modelo Especial to tap into the increasing influence and purchasing power of diverse consumer groups, exemplifying the importance of understanding, and adapting to shifting demographics while staying true to the brand's identity. This is reflected in Brand Finance’s consumer equity research, with Modelo Especial’s Brand Strength growing 12% from 73 out of 100 in 2019 to 83 in 2023.

The brand line ‘It doesn’t matter where you came from – it’s what you are made of’ is a very effective example of flipping diversity into a powerful vehicle of unity. ‘E pluribus unum’ – the traditional motto of the United States, powerfully applied.

Unlocking the key to consumer preferences in the US

According to Brand Finance's comprehensive market research on the US beer sector, the top five key metrics defining a strong reputation are: innovative; genuinely offer something different; luxurious; cool;and is professionally, ethically, and responsibly managed.

Despite its historical status as the top-selling beer across the country - until recently - Bud Light does not feature in the top three beer brands for any of these metrics.

Consumer preferences are ever evolving and being innovative plays a significant role in brand appeal. Hard seltzers have captured the attention of certain American consumers, with Millennials leading the charge in exploring the more diverse range of alcoholic beverages. Our data shows Truly Hard Seltzer has claimed the top spot in the Innovative metric. Kirin and Samuel Adams sit in second and third, respectively.

In a competitive market, establishing a unique identity is vital. Guinness tops the metric for genuinely offering something different with its distinctive taste and heritage, while hard seltzers also display potential in disrupting the beer landscape with their unique positioning. For brands seeking to carve a niche, offering something authentically different becomes crucial in enhancing reputation and market standing.

Interestingly, Guinness also claims the top spot in the luxurious metric adding a touch of opulence to its reputation. Kirin and Stella Artois secure second and third positions, highlighting the perception that foreign beer brands often carry an air of luxury among US consumers. The appeal of these brands lies not only in their unique offerings but also in the allure of indulgence, making them coveted choices for beer enthusiasts seeking a premium experience.

The Power of Research

In such a dynamic brand management and marketing environment, conducting thorough research is a vital tool for brands to truly understand their customers, while maintaining their authenticity. At Brand Finance, we recognize the significance of research in uncovering valuable insights and guiding strategic brand decisions. By investing in comprehensive research programs, brands can forge meaningful connections, build trust, and navigate the complexities of the market with confidence, ultimately ensuring their long-term success in a rapidly evolving landscape.