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According to Brand Finance's report on economic relations between the United States and the United Kingdom, the presence of the former American actress in the British royal family opens up great British growth opportunities for British luxury brands. New World, especially in the millennium. More: Meghan Markle is on the verge of overthrowing Kate Middleton's influential influence role in fashion
A new bridge has been thrown between America and the United Kingdom: its name is Meghan Markle. Prince Harry's wife is not only among the most admired Americans of a traditionalist country like the British, but one of the best ambbadadors of British luxury brands abroad. Evaluate the impact of "Meghan effect" (Meghan effect) on economic relations between America and the United Kingdom is Brand Finance which with Walpole (an badociation of British luxury brands) has just published a detailed report with the following eloquent title: "The royal touch: British and British luxury brands benefit from the popularity of young royals".
The research was conducted on a sample of 1515 Americans different by age (18/65) gender and region of residence with an annual income of about $ 90,000 to understand whether and to what extent the new generation of British kingship had influenced the perception of United Kingdom and its luxury brands; the most relevant data is that the 73% of Americans surveyed it is said that he is more disposed towards their products than he was two or three years ago and that he is closer to the country by 76%. Some famous television series such as "The Crown" and "Donwton Abbey" have contributed to this change of perception, but to a greater extent, the royal family, including Kate Middleton and Meghan Markle. The two duchesses of bourgeois extraction who married the princes of Charles (first heir to the throne) and Diana: William and Harry.
37% of Americans prefer to buy the brands worn by Kate Middleton. 35% instead follows the look choices of Meghan Markle. But the overtaking is near
Kate Middleton holds the record for the most powerful royal influencer, but not with such firmness. In a previous report published by The New York Times, Brand Finance had itself felt that Meghan Markle could bring the coffers of his country of adoption, the UK, beyond £ 150 million in 2019, even surpbading sister-in-law Kate, whose contribution is evaluated around the same figure, but without providing for an increase. These figures are estimated by calculating the effects of the so-called Kate or Meghan Effect: every dress or accessory worn by the duchesses becomes immediately an object of purchase, which causes the collapse of the e-commerce of the marks and determines a sudden (and often lasting) growth of the companies to which the royal ladies decide to give their approval.
Return to United StatesThis effect is especially noticeable in the group of 25 to 45, millennia and X generations, until recently indifferent to the charm of the English monarchy. The new royals are credited for reviving the "love story" between Americans and all that is British. "The monarchy is one of the distinctive features of Britain (…) The members of the royal family, especially the duchesses, act as the mythical touch of King Midas who succeeds in turn the fate of a brand into a nightComments Alex Haigh, director of Brand Finance.
The effects are mainly recorded on fashion brands because the 47% of respondents believe that the choice of a garment by the British royal family is a guarantee of product quality. "Recent examples of real approval include the case of Meghan Markle wearing a pair of Finlay and Co sunglbades, which has resulted in increased sales of the London brand in the United States of America. 2700%". "The sales of the Strathberry bag that she wore at one of the first releases after the official engagement with Prince Harry rose instead of 2.044%, missing stock in just 11 minutes."
incredibly, the royal effect goes beyond fashion and even infects the automotive sector: 39% of US women involved in this survey said that, thanks to the admiration they felt for the Duchess of Cambridge and the Duchess of Susbad, they would be more likely to buy them a brand of cars than others. Used, such as Land Rover, Jaguar and Aston Martin (in terms of aspirations, of course ….).
All this is of immense value to the United Kingdom. "Not only are the United States the most important market for the British luxury goods industry, but they also offer a huge growth opportunity, as the appetite of US customers for our brands and services is growing every year," he said. explained Helen Brocklebank, Executive Director. from Walpole, almost 80% of British luxury production is for export and at a historic moment when the UK is preparing for a final decision goodbye The European Union is becoming essential to strengthen links with the US luxury goods market, the largest and most important in the world, valued at around $ 85 billion, with growth forecasts of $ 103.5 billion. here 2021 (Source: Euromonitor via Brand Financing). Currently, the largest luxury exporter in the United States is the la France (with a volume of 1058 million euros, but down 3.8%), followed by Italy (EUR 924 million) and United Kingdomindeed, which sees excellent growth opportunities in its turnover estimated at 682 million euros.
75% of British luxury brands have identified the United States as the priority growth market from 2016 to 2021 (Source: Walpole and McKinsey & Co: Key Growth Factors for British Luxury, 2016).
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