Covid-19 is reshaping businesses buying behaviour – eight in 10 will pay more for British goods
Three-quarters of businesses are more likely to buy British to boost the economy post pandemic
Almost eight in 10 (77 per cent) believe buying British could help the nation combat climate change
Almost a third of British businesses (30 per cent) have supported the government’s coronavirus efforts
Four in ten believe the pandemic will reshape British manufacturing for the better
MADE in Britain, the collective mark representing almost 1300 UK manufacturing companies certifying their products’ country of origin and recognising their ethical and sustainability credentials has conducted its annual ‘Buying British’ survey in partnership with OnePoll.
The research polled 1000 purchasing and procurement decision-makers at British companies and found businesses remain willing to pay a premium for British goods with 86 per cent happy to pay more (increasing five per cent from 2019) and 64 per cent willing to buy British whatever the cost.
Businesses are also becoming increasingly discerning as a result of the coronavirus, paying even closer attention to the positive contribution their purchasing decisions have on the environment and towards UK plc - and to a far greater extent than their consumer counterparts.
Concerns for the environment featured as a key motivator with 77 per cent of businesses believing buying British could help the nation to tackle climate change (a seven per cent increase from 2019) compared to 71 per cent of consumers.
Sixteen per cent of businesses also considered the environment as a main priority (just five per cent of businesses in 2019) when making a purchase (after quality 28 per cent and cost 21 per cent) compared to only six per cent of consumers.
Similarly, while two-thirds (66 per cent) of consumers said they are more likely to buy British products to boost the economy post-pandemic, this rose to three-quarters (74 per cent) of businesses. Support for UK plc was even more pronounced among London based businesses with eight in ten (81 per cent) more likely to buy British.
John Pearce, CEO, Made in Britain said, “Encouragingly our research shows that the business community is backing British manufacturing to the hilt with support for the UK economy significantly impacting purchasing decisions. Environmental concerns have also risen further up the corporate agenda as climate change and waste reduction become ever more critical.
“We are also extremely proud to see a coming together of British business in the face of adversity with almost a third (30 per cent) of companies responding to the government’s calls to action to aid with the crisis. Indeed, a number of our own members have pivoted or diversified product lines to support coronavirus efforts.”
While businesses are happy to pay more to buy British, almost eight in ten (78 per cent) admitted they would like to buy more British products than they already do (a six per cent increase from 2019) demonstrating significant latent demand.
Such demand remains unfulfilled for a number of reasons – namely it is unclear to business buyers whether a product is made in Britain or overseas. In line with last year’s research, almost four in ten (38 per cent) can’t tell when a product is British made. A similar amount (35 per cent) said they may know a brand was founded in Britain but were unsure if its products were made here and 30 per cent wouldn’t know where to go to buy them.
“It is more important than ever that manufacturers maximise the strong appetite for products made on British soil by making it as easy as possible for both consumers and businesses to buy British. The official Made in Britain accreditation represents a clear ‘stamp of approval’ for quality British made goods and can help cut through the confusion,” added Mr Pearce.
Read the report on our consumer survey here.