2022's Fastest Growing Brand Announced

Morning Consult published its results for the fastest growing brand of 2022. At the top of the list is a surprising company. The results are based on a large number of tracking surveys of thousands of people, evaluating their recent purchasing metrics.

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Meta was the Fastest Growing Brand

As one can probably guess, it's great news that's surprising because we're all well aware of how Meta hasn't been getting the best reviews over the last few months. This translates into a massive 61% drop in its shares over the last year. Meta's performance in this study also showed a few red flags that people should watch out for.

The growth was about taking into account the shares of people who outlined the purchase between the beginning and the end of October of this year. And then you had to subtract that share from the one seen at the beginning and end of January 2022. That's a big deal, considering that there were about 1689 brands that participated in the evaluation.

The whole tracking process started after January. The researchers also witnessed some significant growth trends in the likes of brands selling packaged food. But it's fair to say that this massive purchase intent has been largely suppressed by the rising cost of likes. There was one exception to the norm and that was travel. We welcomed increased demand in hotel brands, which made some significant gains this year thanks to the lifting of pandemic restrictions, as reported by the study. But Meta, as reported by analysts, was a clear surprise by miles.

Some big counter-currents tried to intervene, but Meta proved to be superior to them all. Meta is really fighting against two big elements that are trying to bring it down. For starters, we have a very controversial CEO and secondly, we have our own Facebook brand. Both of these aspects do not bring any benefit to a business and can drag it down immensely. As reported by experts, apparently the huge interest in the metaverse was what really got people's attention and reduced the massive negativity.

Another factor outlined by the experts was that while YouTube scored well in terms of the Boomers list, Discord had great success with Gen Z'ers. This could be the same logic why we see Shein being big among Gen Xers, as seen in the recent past with greater demand from younger consumers. Another reason why we felt Meta's recognition and uptake was able to grow so quickly had to do with the business launched by Zuckerberg just last year. A lot of the power may be coming from Gen Xers and baby boomers more than anyone else, rather than the usual young audience.

Other than Meta. We've seen brands like Crocs, Stok and Beats finish in the top four of the growing brands list. They've been much more successful among young people than the likes of Meta. All that aside, it was not a good year for brands in general. We saw purchase intent for brands fall by 1.4 percent. This was mostly related to people cutting back on spending due to the increase in prices.