Meta Crowned The Fastest Growing Brand For The Year 2022

Morning Consult has published its results for the fastest-growing brand of 2022. And surprisingly Meta has topped the list in this regard.

The decision was made in terms of the purchase considerations that were recently measured, thanks to an array of numerous tracking surveys comprising thousands of individuals.

As one can probably expect, it’s some great news that’s surprising too because we’re all well aware of how Meta hasn’t exactly been getting the best reviews in the past few months. This entails a massive 61% plunge in its shares during the past year. Moreover, Meta’s performance in this study also showed a few red flags that people need to be mindful of.

All in all, we’re happy for the brand as these growth results are definitely being welcomed with open arms by the firm. So what exactly made the survey come to this conclusion?

Well, growth had to do with a consideration of shares from people who outlined purchasing between the start and end of October of this year. And then you had to subtract this share from that seen during the start and end of January 2022. It’s a big deal considering the fact that there were around 1689 brands taking part in the evaluation.

The entire process of tracking started after January. The researchers also witnessed some major growing trends for the likes of brands selling packaged foods. But it won’t be wrong to say that this huge purchase intent was greatly weighed down by the likes increased costs. There was one exception to the norm and that was travel.

Thanks to the pandemic restrictions being eliminated, we said hello to rising demand in hotel brands that made some major gains this year as reported by the study. But as reported by analysts, Meta was a clear surprise by miles.

Some major counter-currents did try to intervene but Meta still proved to be superior against them all. Meta is really fighting against two huge aspects that are trying to bring it down. For starters, we’ve got a CEO that’s very controversial and secondly, we’ve got its own Facebook brand.

Both of these aspects aren’t known for doing any good to a business and can bring it down immensely. As reported by the experts, it appears that great interest in the metaverse is what really caught people’s attention and curbed the major negatives.

Another factor outlined by the experts had to do with Discord making it big with those on Gen Z while YouTube was scoring well in terms of the Boomers list. This might be the same logic as why we saw Shein making it big among Gen X as was seen with more demand from younger consumers in the recent past.

Another reason why we feel Meta’s recognition and the purchase was able to grow this fast had to do with the business launched only last year by Zuckerberg. A lot of the strength may have been due to Gen X and baby boomers more than anyone else, instead of the usual younger audiences.

Other than Meta. we saw the likes of Crocs, Stok, and Beats round off the top four for the list of growing brands. They fared so much better among young individuals when compared to the likes of Meta.

Keeping all of this aside, we must mention how it was not a great year for brands in general. We saw the intention for purchases go down by 1.4 percentage points for brands. This generally had to do with people reducing spending due to a rise in prices.

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