Budget brands winning hearts of consumers this year. But no financial services companies have yet learned how to successfully connect.
Opinium's annual Top 100 Most Connected Brands in the UK shows how fintechs can set themselves apart from traditional financial organisations.
Now in its fifth year, the ranking is the first ever Index to be compiled by exclusively from consumer feedback.
Amazon tops the ranking for the fifth year in a row, budget brands have risen up the rankings, highlighting how the cost-of-living crisis is hitting consumers.
The affordable supermarkets have jumped up the charts since last year, with Aldi making it into the top five, up 10 places since 2021. Asda has risen 14 places, and Iceland is up nine spots. At the same time, Waitrose has fallen 11 places.
Budget retailers have followed a similar pattern, with Primark rising 10 places, George climbing 11 places and Matalan seeing a 14-place rise.
What is really interesting (or disappointing) is that no financial services company has managed to be in the index over the past five years.
However, this is an opportunity for fintech companies to look to the brands that are doing well and learn how to understand consumer needs and develop new products and services. Gretel, the online hub which helps consumers look for lost assets is a great example of fintech for good.
The full Opinium Connected Brands can be found here Most Connected Brands UK 2022 - Opinium