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Coca-Cola leads the global market, solidifying its status as the world's most purchased brand. Meanwhile, Red Bull and Sunsilk performed remarkablely in their respective categories.
Coca-Cola's Household Penetration Growth
With a staggering 8.3 billion purchases worldwide, Coca-Cola continues to be the most popular brand, a testament to its global impact and consumer appeal.
Insights from Kantar reveal that Coca-Cola's household penetration, a key metric indicating the brand's reach, has experienced a robust growth of 2.6%, underscoring its ability to attract new consumers.
The Brand Footprint report, a comprehensive study by Kantar, delves into consumer behavior across 62 markets, collectively representing 86% of the global GDP and 76% of the world's population.
Consumer Spending Trends
According to this year's report, the mean expenditure per household on food has surpassed $1,000 (€919.53), representing an almost 60% surge compared to the expenditure level documented ten years ago, in 2013.
ESM - European Supermarket Magazine shares that consumer spending on name-brand products has experienced a notable surge, rising by 8.6 percent and reaching an average of $1,052 (€967.35) per customer, indicating robust growth in the market.
Per Kantar's research, American consumers spent the most on packaged products, averaging $3,063 (€2816.52) per home. In contrast, Bangladeshi consumers spent the least, averaging less than $159 (€146.21) per household.
As a coping mechanism for the increasing expense of living, consumers tended to indulge at home and buy high-end products, contributing to food inflation, which increased by an average of 4% during the year.
When all of these indulgent purchases and high-end brand products are considered, the result is an increase in expenditure per item that is 6.7% higher on average.
Red Bull and Sunsilk's Market Performance
Red Bull has demonstrated its prowess as a fast-moving consumer goods brand, experiencing the highest rate of growth (17.8%) in terms of the number of times it has been purchased. This success is attributed to the brand's effective acquisition of new customers in key markets such as Brazil, mainland China, France, Germany, and the United States, solidifying its market dominance.
In terms of consumer acquisition, Sunsilk has emerged as the most successful brand in other regions, as evidenced by over 26 million new households acquiring the brand as of 2023.
