THEME FOR THE YEAR
As noted in the Foreword to this edition of the Brands Annual, 2020 was a year like no other with businesses the world over facing their toughest test – from the impact of the pandemic on economic activity and immediate GDP forecasts, to largely diminished long-term prospects.
It could be argued that building business resilience – including brands, which are their most valued intangible asset – is more important now than ever before.
At this juncture, there is no clear horizon to the end of the pandemic and it could well be the case that we will be living with it for years to come. Against this backdrop, businesses that are able to adapt in these difficult circumstances have opportunities to thrive.
This is where the importance of brands can come in as they are built over the long term and have the resilience to withstand tumultuous markets, as consumers gravitate to more familiar and trusted names.
Finding ways to build resilient brands therefore, is of paramount importance during these times.
– Brand Finance Lanka