Bosch Power Tools recently won the prestigious German based ‘Best Brands Award’ in the higher-level category ‘Best Brand Overall’ for 2021, prevailing against other well-known global brands from various industries, according to a recent AftermarketNews.com report.
Upon receiving the award, Chairman of the Management Board of Robert Bosch Power Tools GmbH, Henk Becker expressed his sincere thanks – especially to all consumers who had placed their trust in the brand.
“We see the award as an incentive to continue on our path of consistent alignment with the needs of users and thus continue to offer them tangible added value in the future,” he said.
The Best Brands Awards has been presented annually since 2004, based on a collaboration between GfK, Seven.One Entertainment Group, Markenverband, WirtschaftsWoche, ZEIT Verlagsgruppe, RMS Radio Marketing Service, Media Impact and the Serviceplan Group.
The awards were initiated to honour successful brand leadership and provide a forum for trendsetting communication solutions, according to the AftermarketNews.com report.
The awards are particularly prestigious because they are based on a representative consumer survey conducted by GfK, decided by two criteria, including the economic success of a brand as well as the attractiveness of the brand, as perceived by consumers.
The announcement comes off the back of substantial sales growth by Bosch Power Tools, in the 2020 financial year, after achieving sales of 5.1 billion Euros in more than 190 countries. Adjusted for exchange rate effects, this corresponds to an increase of nine percent compared with the previous year, according to the report.
“In 2020, we achieved a sales record in a very dynamic environment due to a pandemic environment. We owe this primarily to the trust of our users and customers and the commitment of our employees. The business performed much better than initially expected. After the sharp drop in sales in the spring, the industry experienced a significant increase in demand in the second half of the year due to a change in purchasing behaviour in the wake of the Corona pandemic,” Mr Becker said.
The Bosch Power Tools division also recorded a sales increase of 13 per cent for Europe after adjusting for exchange rate effects, while growth within Germany was at 23 per cent.
Bosch Power Tools achieved a 10 percent increase in sales in North America and 31 percent in Latin America, according to the report with the only declining region being the Asia-Pacific which was eight per cent below the previous year’s level. The decline was attributed to limitations of the much longer lockdowns in within India and the ASEAN region.