The Raspberry Pi Computer is just one fantastic innovation made in Wales
Over a fifth (21%) of consumers in new and emerging markets are more likely to buy a product if the Welsh Flag is used, strongly associating Welsh products with value for money and tradition. Sounds good eh? However, that figure leaps to 64% with the use of the Union Flag, which is more likely to be associated with quality internationally.
These are the finding of a new report commissioned by Barclays Corporate Banking, which makes for interesting reading and might come as a shock for many proud Welsh manufacturers.
When labelled as Made in England/Scotland/Wales, goods tend to command considerably lower premiums than Made in Britain with only the one exception, alcoholic beverages, where the branding Made in Scotland adds a greater premium than Made in Britain in several countries.
The label Made in Britain triggers a willingness to pay of up to 7% more among customers in new and emerging markets than for products without a declared country of origin and at least 50% of respondents in all countries perceived the quality of British goods to be “good” or “very good”.
Despite recent calls for independence this perhaps proves we are better as a ‘United’ Kingdom as far as exporting is concerned. So, the advice is to drop the made in Wales, Made in Scotland and Made in England branding and celebrate manufacturing in Britain.
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