The new measurement methodology will be implemented across Unilever's 30 power brands in first half of 2024.
Unilever, a FMCG brand, is working towards a new quantitative methodology to measure brands’ consumer appeal across multiple dimensions and have validated it in 29 strategic cells. During the first half of 2024, this will be rolled out across all 30 power brands in key geographies to identify performance gaps and improve competitiveness.
In October 2023, the company rolled out a 'Growth Action Plan', aiming to drive unmissable brand superiority. During the fourth quarter, it has moved at pace to embed it across the business. The plan is divided into three elements with one premise: the need to do fewer things, better, with greater impact.
Currently, the brand is focusing on investing in its 30 power brands as these gross margin accretive brands represented around 75% of Group turnover with underlying sales growth of 8.6% in 2023 and 6.5% in the fourth quarter. This is where the company has concentrated its incremental brand and marketing investment, which will continue in 2024.
In an official press release, Hein Schumacher, CEO, Unilever, said, “In October, we set out a Growth Action Plan focused on three priorities: delivering higher-quality growth, stepping up productivity and simplicity, and adopting a strong performance focus. The new leadership team has embedded the action plan at pace."
"We have increased investment behind our 30 Power Brands, accelerated portfolio transformation, and are driving a sharper performance focus with clear and stretching targets across the whole organisation. We are at the early stages of this work and there is much to do but we are moving with speed and urgency to transform Unilever into a consistently higher performing business," he added.