Attest reveals that a ‘Made in Britain’ label would make three in four people more likely to buy a product

London, UK. In the midst of Brexit Britain, Attest has carried out research to find out about consumer perception of British brands and products. Does a ‘Made in Britain’ label make a difference to consumer brand perception?

 

Attest, a brand intelligence and consumer insights platform, surveyed 2,000 British and 2,000 American people, and these are some of the findings:

 

 

  • 3 in 4 people are more likely to buy a product with a ‘Made in Britain’ label
  • ‘Quality’ is the most associated term with ‘Made in Britain’, followed by ‘stylish’, though 46% of people expect British-made products to be expensive
  • 1 in 3 Americans admit they don’t know any British brands
  • However nearly 40% of Americans find ‘Made in Britain’ products ‘desirable’
  • 39% of Brits feel more positively towards British brands and products post-Brexit

 

 

When asked to list their favourite British brands, Cadbury and M&S had the best brand perception for British participants, while Burberry came out on top as the favourite in the US.

 

View the full infographic here and additional assets on Dropbox

 

Britain’s reputation for style and quality, both within the UK and overseas, is evident in our findings”, says Mark Walker, Marketing Director at Attest. “Rather than Brexit diminishing Britain’s reputation for consumer brands on the world stage, it appears to be presenting an opportunity to redefine ‘Made in Britain’ both at home and abroad.”

 

John Noble, Director of the British Brands Group says: “British brands are a strong source of pride, but also of our international competitiveness, and it is encouraging to see this reflected in this research. British brands help shape perceptions of the UK around the world, with the Nation Brand Index rating the country 3rd out of 50 for the strength of its image and reputation. Strong brands will play a key role in our future success.”

 

About Attest

 

Attest is a Market and Brand Intelligence platform, helping connect businesses to a network of 70 million consumers across 80 different countries. They work with brands including Deliveroo, Fever-Tree, Twitter, Uber and Unilever to help them measure, manage and maximise their brand equity, get closer to customers, and win market share. They are backed by leading venture capital firms including Oxford Capital and Episode 1. Learn more at: www.askattest.com

London, UK. In the midst of Brexit Britain, Attest has carried out research to find out about consumer perception of British brands and products. Does a ‘Made in Britain’ label make a difference to consumer brand perception?

http://brn.firetrench.com

Continue reading

More than 31 million hit by Keyboard App Breach

Security researchers have discovered a massive collection of personal data belonging to more than 31 million users of the popular virtual keyboard app, AI.type, after the information was accidentally leaked online. It is possible for anyone to download the sensitive data without requiring a password. A misconfigured MongoDB database is thought to have been the reason for the exposure of AI.type’s entire 577 GB database

http://brn.firetrench.com

Continue reading

Alleged plot to kill PM

 

 

 

 

 

TMay the most unpopular British PM since Neville Chamberlain in 1940

 

British statesman and prime minister Neville Chamberlain (1869 – 1940) at Heston Airport on his return from Munich after meeting with Hitler, making his ‘peace in our time’ address. (Photo by Central Press/Getty Images)

 

 

by Dr John Bahadur Lamb, Lecturer in Criminology and Security Studies at Birmingham City University

“Two men are in Court today accused of planning to kill the Prime Minister. Such plots are not uncommon and, thankfully, the excellent security services which the UK has usually foil them before they get beyond the planning stage.

http://bsd.firetrench.com

Continue reading

Ginetta G55 GT4 Accepted Into Trans Am Series For 2018

The Ginetta G55 GT4 will be homologated for the 2018 Trans Am Series presented by Pirelli.

http://brn.firetrench.com

 

Adolpho Rossi, Ginetta’s East Coast distributer, has secured a place for the G55 GT4 in the series’ TA3 Class. This adds yet another series to the roster of accepted G55 GT4 entries in the USA, which already boasts the Pirelli World Challenge, NASA and FARA championships.

The Trans Am Series presented by Pirelli is marketed as; ‘America’s Road Racing Series’ and dates back to 1966. The series is split across four classes; TA, TA2, TA3 and TA4 with grids of 70 plus cars.

Ewan Baldry, Ginetta Technical Director; “We are delighted to see the G55 GT4 has been accepted into the 2018 Trans Am Series and thank you to Adolpho Rossi for his continued hard work. The car has been making waves in the USA for a few years now and its popularity is going to continue to grow. It’s the car to beat in GT4 endurance racing, and we look forward to following our teams progress in 2018.”

In 2017 the championship took in some of the USA’s most iconic circuits, including Sebring International Raceway, Homestead-Miami Speedway, Road Atlanta, Indianapolis Motor Speedway, Brainerd International Raceway, Mid-Ohio Sports Car Course, Road America, Watkins Glen International Raceway, New Jersey Motorsports Park, Circuit Of The Americas and Daytona International Speedway, Daytona Beach, FL

This latest news continues Ginetta’s expansion across the globe and reaffirms its position as the car of choice for GT4 racing worldwide. A winner on the international stage, in the four years since the G55 GT4 car replaced the G50 GT4 in 2014, the Yorkshire marque has taken around 100 wins in some of the globe’s biggest GT4 race series.

Victories have included the Dubai 24 Hours five times in six years and the Mugello 12 Hours three times in three years. Not only that, but the car claimed a first and third in class on its Motul Sepang 12 Hours debut last season, two wins in the TCE series and class victory in the Euro GT4 Southern Cup. A Ginetta GT4 has also won British GT seven times in the past 10 years.

Product recall risks growing in size and number, as technology drives new triggers, warns Allianz

  • Defective product risk is an increasing peril for companies, causing significant financial damage, says Allianz Global Corporate & Specialty (AGCS) report.
  • Tougher regulation, global supply chains, materials from fewer suppliers and consumer awareness are contributing to a rise in recalls.
  • AGCS claims analysis: average cost of significant recall is US$12 million. “Ripple effect” events can cost billions.
  • Automotive industry most impacted, followed by food and beverage sector.
  • Emerging triggers include recalls for ethical reasons, cyber recalls from security vulnerabilities or hackers manipulating products, and social media.

Singapore, Munich, New York, London – December 5, 2017 A faulty pedal causes a car to inadvertently accelerate. An outbreak of contaminated peanuts results in a 25% industry-wide reduction in sales. Each of these incidents triggered major product recalls, resulting in billion dollar losses. Product-related risk is one of the biggest perils facing businesses today, with recall exposures having increased significantly over the past decade, bringing the potential for larger and more complex losses than ever before, warns insurer Allianz Global Corporate & Specialty (AGCS) in a new report. It highlights the automotive industry as being the most impacted by product recalls, followed by the food and beverage sector, based on analysis of insurance claims.

“Product recalls have risen steadily in the past decade. We are seeing record levels of recall activity in size and cost today,” says Christof Bentele, Head of Global Crisis Management at AGCS. “Tougher regulation and harsher penalties, the rise of large multi-national corporations and complex global supply chains, growing consumer awareness, impact of economic pressures in research and development (R&D) and production and even growth of social media are just some of the contributing factors behind this.”

Defective products not only pose a serious safety risk to the public but can also cause significant financial damage to the companies responsible. Defective product/work-related incidents have caused insured losses in excess of US$2 billion over the past five years, making them the largest generator of liability losses, according  to analysis*  of insurance industry claims by AGCS. Recall claims are a major contributor to this total, alongside product liability claims.

The report Product Recall: Managing The Impact of the New Risk Landscape analyzes 367 insurance industry product recall claims from 28 countries across 12 industry sectors between 2012 and the first half of 2017. Overall defective product or work is the major cause of recall claims, followed by product contamination. The average cost of a significant**  incident is in excess of US$12 million (€10.5 million), with the costs from the largest events far exceeding this total. Over 50% of losses arise from 10 incidents. The IT/electronics sector is the third most affected industry after automotive and food and beverage, according to the claims analysis.

Automotive recalls most expensive and large-scale due to “ripple effect”
Automotive recalls account for over 70% of the value of all losses analyzed, which is unsurprising given recent record levels of activity in both the US and Europe***. “We see an increasing number of recalls with higher units in the automotive industry,” says Carsten Krieglstein, Regional Head of Liability, Central & Eastern Europe, AGCS. “This is driven by factors such as more complex engineering, reduced product testing times, outsourcing of R&D and increasing cost pressures. The technological shift in the automotive industry towards electric and autonomous mobility will create further recall risks.”

One of the largest recalls to hit the auto industry to date, involving defective airbags, is expected to result in some 60 to 70 million units across at least 19 manufacturers being recalled worldwide. Costs have been estimated at close to US$25 billion****. This incident exemplifies the growing “ripple effect” which impacts the automotive sector, but also other industries. Given the use of many common components, a single recall can impact a whole industry.

Food and beverage is the second most impacted sector, accounting for 16% of analyzed losses with the average cost of a significant product recall claim almost US$9.5 million (€8 million). Undeclared allergens (including mislabeling incidents) and pathogens are a major issue, as is contamination from glass, plastic and metal parts. Malicious tampering and even extortion incidents pose an increasing threat, as well as the growth of “food fraud”, which has become a major issue, resulting in reputational damage and major losses, as seen in the horse meat scandal in Europe four years ago.

The report also notes that products from Asia continue to account for a disproportionate number of recalls in the US and Europe, reflecting the eastwards shift in global supply chains and historically weaker quality controls in some countries. Yet increasing safety regulation and consumer awareness is ensuring recall activity is also rising across Asia.

Technology to prevent and drive future recall risks
The report also identifies emerging recall triggers that will drive future risks and claims,  largely stemming from new technologies. Advances in product testing such as genome-sequencing technology will make it easier for regulators and manufacturers to trace contaminated products in future, potentially saving lives, but also potentially spiking litigation activity, as liable parties can be more easily identified.

Cyber recalls may become an increasing reality. Hackers could change or contaminate a product by controlling machinery in automated production plants. “Cyber is currently an underestimated risk,” says Bentele. “We have already seen recalls due to cyber security vulnerabilities in cars and cameras.” Innovative but untested technologies such as artificial intelligence and nanotechnology could also transform recall risk.

Social media is a fast and effective way of communicating with customers but can also exacerbate recall risk if not well-managed. “Social media is a real game-changer for product recall,” says Stewart Eaton, Head of Product Recall, UK, AGCS. “An erroneous post or tweet can cause reputational damage and directly impact the size of a recall, meaning companies need to react faster than before.”

Recalls for ethical and reputational, rather than safety, reasons are also on the rise, such as in cases where child or slave labor has been used in the supply chain or where food such as halal or vegan has been mislabeled or counterfeited. “There will be incidents when there is no legal requirement to recall but it is the right thing to do. This is a genuine business risk which companies have to be prepared for,” Bentele says.

Pre-event crisis management as part of corporate DNA
Pre-event planning and preparation can have a big impact on the size of a recall and the financial and reputational damage sustained. As part of a holistic risk management program, specialized product recall insurance can help businesses recover faster by covering the costs of a recall, including business interruption. It also provides access to crisis management services, and consultants, which can test a company’s procedures and offer global support in areas such as regulatory liaison, communications, product traceability and tampering investigations and even genome sequencing and DNA testing to understand a product contamination.

“There is now much more attention on how companies deal with defective or contaminated products, how responsive they are and how resilient their safety systems are. More than ever consumers are also part of the agenda and are driving company behavior by making their choices subject to how companies deal with crises. A company that embraces crisis management, and makes it part of its DNA, is far less likely to suffer a major incidence,” says Bentele.