London 2012 providing boost to ‘Brand Britain’ - sportbusiness.com

London 2012 providing boost to ‘Brand Britain’ - sportbusiness.com

A survey of 6,000 consumers by Deloitte, the official professional services provider to London 2012, found that around 80% of respondents from China and India are more likely to want to visit Britain in light of the publicity surrounding the Games. More than 60% say they would like to buy more British products, whilst 77% want to learn more about the UK as a whole. The research also shows that 76% of respondents in China and India associate the Olympic Games with the UK, a higher proportion than consumers elsewhere in Europe or the United States. Only the UK’s history, universities and London itself are attributes more closely associated with the UK in the minds of Chinese and Indian consumers.

“London 2012 clearly provides a direct and immediate opportunity for consumer businesses,” said Nigel Wixcey, UK head of consumer business at Deloitte. “However, our research shows the potential is there for a longer term benefit too, but only if companies are prepared to exploit the opportunity. As the global population is evolving, so consumer spending power is shifting. The emerging middle classes of China and India are increasingly powerful consumers of Western goods – both as visiting tourists and increasingly as strong consumer markets develop in their home countries. This trend will continue to accelerate over the next few years.”

Deloitte has noted that the impact of the publicity surrounding the Games has not been so pronounced in Europe and the US. However, despite this around half of consumers surveyed in France, Germany and the US said they are more interested in visiting Britain as a result of publicity surrounding the Games, whilst roughly a fifth would like to buy more British products.

Simon Oaten, director in the consumer business industry at Deloitte, added: “There has always been a strong underlying demand to visit Britain, but London 2012 is giving the UK a shot in the arm. Given the UK economy’s growth prospects, it is important for consumer businesses to develop relationships with overseas customers, particularly from markets such as India and China. Retailers and hospitality operators in the UK who understand the shifting global demographics will reap the rewards. London 2012 provides the UK with a unique moment, a unique competitive edge over other countries.”

Source: www.sportbusiness.com