Global brand experience firm Siegel+Gale is out with its 10th annual World's Simplest Brands report, concluding that German grocer Lidl is the world's simplest brand.
Among US companies, Whole Foods Market ranked first, followed by the U.S. Postal Service, Lyft, UPS, and Burger King.
According to the report, "64% of people are willing to pay more for simpler brand experiences, and 78% of people are more likely to recommend a brand for its simpler experiences and communications." And, "since 2009, the publicly traded simplest brands consistently outperform the average global stock index by 1,600%."
At the same time, the report suggests that "brand complexity results in $780 billion of total annual unrealized revenue among the global brands surveyed."
X - the company formerly known as Twitter - is ranked in the study as the US's most complex brand.
- KC's View:
It should be a surprise, but it is worth being reminded that simplicity - defined as a clear, unambiguous value proposition and customer experience - is enormously appealing to people. While I'm not sure I'd agree with all the reports' conclusions, I totally buy into the idea that a simple narrative - a story that can be told in a few words, evocative and aspirational - is the best way for brands to communicate.