Google, Amazon, and YouTube take the top spots in Havas’ Meaningful Brands 2023 India report

Consumers are moving on from “purpose-washing” by brands to an analysis of the relevance of purpose that is more inward-looking and personal reveals Havas’ Meaningful Brands 2023 India report.

One of the biggest takeaways from the study is that people wouldn’t care if 73% of brands disappeared today.

Google has emerged, in India, at the top of 2023’s most Meaningful Brands as a result of delivering strongly on both personal and collective benefits. Others in the top five include #2 Amazon, #3 Youtube, #4 Whatsapp, and #5 Flipkart. 

In India specifically:

1. The Most Meaningful Brands perform 39% better than average brands when they deliver on personal benefits. 69% of consumers believe brands should help with their health and well-being, whether it is physical, mental or spiritual. Brands that want to stand out must also exhibit resilience and positivity, especially in the face of crises.

2. One of the biggest insights revealed by the study is how the newest kids on the consumerism block, Gen Z, value positivity and the need to put themselves first. High scores show that Gen Z is not just the happiest (71%) and most optimistic (70%), but they are also very determined in expressing their sense of self. Brands that help them express their individuality meaningfully outperform other average brands by 66%.

3. There is also a strong tendency among consumers to be positively inclined towards brands and businesses that help simplify and streamline consumers’ lives – so much so that compared to the average brand, Meaningful Brands perform 60% better in improving consumers’ Quality of Life.

Another dimension that strongly contributes to consumers’ Quality of Life is the sense of control. With the pandemic as part of our recent and turbulent history, it is understandable why control emerges as a top dimension that brands should consider.

Emphasis on factors like a brand ‘helps me feel more in control of my day-to-day life’ and ‘enables me to be smarter with my money and/or time’ are indicative of consumers’ growing desire to draw a sense of security and certainty from brands which they perceive may be within their locus of control.

Rana Barua, Group CEO, Havas India, said, “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. Although we see large-scale global trends emerging, it is the market specifics and category insights that truly sets 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 actions: to bridge the gap between consumer expectations from brands and their experiences. Staying ahead of the curve is a given when we have a tool as robust as the Meaningful Brands study,” he added.

Sanchita Roy, Chief Strategy Officer, Havas Media India, said, “Our new Meaningful Brands study has put the focus back on consumers. The study finds that brands that have understood how to be meaningful in the lives of consumers are significantly outperforming the market across parameters including driving a greater share of wallet, generating higher KPIs and also delivering top and bottom-line growth. Brands can effectively leverage our findings to make their consumers feel empowered, engaged and enabled.”

Anirban Mozumdar, Chief Strategy Officer, Havas Creative India, added, “While it is important for brands to deliver functionality and to be socially responsible, the personal element has gotten missed out. Between solving a skin problem and helping save Orangutans in distant Borneo, brands and marketers have forgotten the personal and immediate payoff for those we serve – beyond mere functionality and the tokenism of a distant good.”

“Consumers want brands to support their personal quest for health and well-being, bringing optimism and energy, stand with them with shared resilience and positivity – above all, help express themselves as individuals. With so much going wrong and out of control, they want brands to simplify and give them some control over their lives,” he continued.