McCann Oslo presented "Truth About Global Brands 2: Powered by the Streets" in Norway

McCann Oslo hosted representatives of the business and advertising community and presented the key findings of the study with interesting local results. The study "Truth About Global Brands 2: Powered by the Streets" was presented by Harjot Singh and Rodney Collins, followed by a panel discussion led by Simen Hanssen, the strategic planner of McCann Oslo, and the guests were Mette Fossum from the renowned supermarket chain Rema 1000, Henrik Øinæs Habberstad from the multinational energy company Equinor and Frithjof Jacobsen of the most famous Norwegian online media VG.

Consumers worldwide grow more distrustful and pessimistic

People around the world report an increasing preference for local culture and perspectives along with a rising distrust of global institutions and information sources including social media, according to "The Truth About Global Brands 2: Powered by the Streets," a new study conducted in 29 countries that was also presented in McCann Oslo. Surprisingly, the research by McCann Worldgroup's Truth Central global intelligence unit reveals that positive attitudes towards global brands have remained high, with consumers believing that global brands can play a valuable role in contributing to local cultures.

The event hosted by McCann Oslo welcomed business and advertising community and provided them an exciting two hours with presentation of key findings from the study with local data by Chief Strategy Officer of McCann Worldgroup Europe, Harjot Singh, and Regional Director EMEA at Truth Central, Rodney Collins, as well as a panel discussion with Mette Fossum (Rema 1000), Henrik Øinæs Habberstad (Equinor) and Frithjof Jacobsen (VG), moderated by Simen Hanssen from McCann Oslo.

McCann Worldgroup Truth Central launched its initial study, "The Truth About Global Brands," in 2015. The new Global Brands follow-up study, which also incorporates findings from McCann's Truth About Street initiative that sent all 20,000 of the agency network's employees out last October to interview consumers, shows a rising cynicism and pessimism on both institutional and individual basis. Consumers around the world report sharply rising distrust in institutions —72% of people believe that global institutions like the World Bank and the UN don't understand the needs of their country — and are generally more pessimistic and more distrustful of their own fellow citizens.

Conversely, the study found that attitudes towards brands have not suffered from the same negativity affecting people's overall views, and in fact represent a counterbalance to political and institutional distrust. The inaugural 2015 study showed that 82% of consumers on a global basis believed that global brands can play a powerful role for good in the world, which remained essentially the same (81%) in the 2018 study. Like in 2015, the global brands that contribute to local culture and society in 2018 are viewed with the same favorability.

At the same time, the conditions affecting the brands have changed. A majority of consumers around the world (56%) say they now trust local brands over global brands — up sharply from 43% in 2015. This presents brands with both a strategic challenge and a great opportunity to connect with consumers in a meaningful way.

In the age where news sources are being challenged, another critical data point shows that consumers across the globe believe that "truth is the most valuable currency" in all conversations — public, private, across social media and anywhere in the economy. But on average, consumers believe they need to review five information sources in order to feel like they know "the truth" about any subject.

"I'm pleased that McCann Worldgroup chose Norway for the European launch of the report. The industry is hungry to gain more insight, and we will strive to provide more of it in the coming studies which will include the Nordic countries," said Calle Hägg, Managing Director at McCann Oslo.

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