International consumers favour British-labelled food

As the UK prepares to negotiate fresh trade deals abroad, new global research from Barclays Corporate Banking reveals two fifths (39%) of international consumers would be more inclined to buy a product if it displayed the Union Jack.

An international survey of 8,060 people from eight markets (France, Germany, Republic of Ireland, India, China, UAE, USA, and South Africa) has uncovered the most coveted British goods abroad, and the premiums foreign consumers are prepared to pay for ‘Brand Britain’ products.

Food tops the list, with international consumers willing to pay 22% more for food labelled as British-made.

Produced as part of the Barclays Brand Britain: Export Opportunities for UK Businesses report, economic modelling shows the tangible benefits of a positive perception abroad. An additional £3.45bn could be generated in revenue by deploying targeted marketing focused on the provenance of British products.

Baihas Baghdadi, global head of trade & working capital at Barclays, comments, “Brand Britain continues to have widespread appeal abroad, demonstrating the continued scope for UK businesses to trade successfully overseas. The picture continues to look positive for Britain’s exporters, with international consumers going out of their way to buy British.

“Our research shows that some of the biggest opportunities lie in emerging markets, where British craftmanship is most valued. The prize is substantial, and exporters should be looking to highlight the provenance of British products to take best advantage.”

With the exception of alcohol and soft drinks, consumers said that provenance was an important influence on the decision to purchase in all product categories. This was especially pronounced with foodstuffs, where 66% said the country of origin would affect their choice.

Just 29% of respondents in France would pay more for goods made in the UK because they perceive the quality as higher. Economic modelling suggests this could translate into an additional £426 million in revenue from China, £93m from India, and £92m from the UAE generated by British-labelled products.

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