Welp MagazineSeveral brands experienced tremendous growth in 2020 due to the Coronavirus pandemic shifting demand in many industries. One of the brands that became a household name during the pandemic was video communications company Zoom. According to data presented by Trading Platforms, Zoom was the fastest-growing brand of 2020 with a 34% growth in brand recognition.
Zoom – Highest Growth In Brand Recognition 34%
COVID-19 shifted the world’s reality in more ways than one and this change can clearly be seen in consumer behaviour. Due to lockdowns across the globe, many of people’s normal routines were disrupted and many had to adjust to a “new normal.” The radical change meant there was a dramatic shift connected to pandemic-related behaviour such as the widespread use of food delivery services, at-home entertainment, work from home tools, cleaning products and pharmaceutical companies just to name a few.
One of the brands that benefited greatly from the sudden shift in demand is Video communications company Zoom. Zoom was founded in 2011 but it was not until 2020’s pandemic that it became a household name. A recent survey shows that Zoom experienced the most growth in brand recognition, with 34% more respondents indicating that they are familiar with the brand in Nov 2020 compared to January of the same year.
Zoom Fastest Growing Brand Among All Generations
The rise of Zoom’s brand recognition has helped catapult it into the fastest-growing brand of 2020. In January 2020, only 11% indicated that they would purchase from the brand but by November 2020 that number had risen to 26%, a growth of 15%. This growth was the highest recorded growth among brands.
Even more impressively, Zoom’s dominance crosses all generations as they also ranked the fastest growing brand among all age groups. Notably, Zoom saw the highest growth among Millenials (20%) and Gen X (20.3%) members, primarily fuelled by Zoom becoming a work from home necessity during the pandemic for many companies.
Most Of The Fastest Growing Brands Can Be Attributed To Pandemic Related Behaviour
Zoom was not the only company to benefit from the new normal as many other brands on the same list can also connect its growth to pandemic related behaviour. As people were forced to stay home, there was a notable increase in popularity for video streaming platforms as consumers looked for new ways to engage themselves.
NBC’s new streaming platform Peacock was just behind Zoom in the rankings with a recorded increase of 32% in brand recognition and a recorded brand growth of 11.5% – the second-highest after Zoom. Five other brands related to video-streaming (TikTok, HBO Max, Twitch, Tubi TV, Pluto TV,) also appear in the top 20 fastest growing brands of 2020.
Other brands on the list come from a range of industries, from cleaning products to pharmaceutical companies to also financial apps showing the clear effects of the COVID-19 pandemic.
You can read more about the story with more statistics and information at: https://tradingplatforms.com/blog/2021/02/08/zoom-highest-growth-in-brand-recognition-for-2020-34-increase/
This article is syndicated from Daily Finance.
