Interbrand survey: Woolies is Asia’s top retail brand
Interbrand has released a global report on the retail sector that finds that Woolworths is Asia’s number one retail brand.
The announcement:
Sydney, Australia (22 FEBRUARY 2012) – Interbrand, the world’s leading brand consultancy, has today released its 2nd annual global report dedicated to the retail sector.
The Best Retail Brands report* ranks the top 50 U.S. retail brands by brand value, as well as the top retail brands from the Asia Pacific region, U.K., France, Germany and Spain revealing; Woolworths as the number one brand in the Asia Pacific region as well as U.S retailers continuing on a path of steady growth, with online retail spending making up to almost 9 percent of all U.S. retail sales, a jump from 7 percent from 2011.
Other Key Findings from the Best Retail Brands Report:
Walmart maintains its #1 position on Interbrand’s U.S. Most Valuable Retail Brands list for 2012, with a brand value just over US 139 $m (down 2% from last year).
Tesco (UK), Carrefour (France), Aldi (Germany), Zara (Spain), and Woolworths (Asia Pacific) are also ranked as the number one retailer in their respective markets — all holding their top spots from 2011 Best Retail Brand Report.
Amazon.com maintains the #9 position, and increased its brand value by 32%—the largest riser amongst all countries’ brand rankings.
eBay moves into the top 10 for the first time, replacing Dell on the U.S. Most Valuable Retail Brands list.**
Across all the global lists found in this year’s report, the overall top risers include Amazon.com (U.S.; up 32%), Leroy Merlin (France; up 22%), Mercadona (Spain; up 22%), Lidl (Germany; up 20%), Tractor Supply (U.S.; up 18%), and Sephora (France; up 18%).
The top new entrants include Guess (U.S.: 1,748 $m), Bershka (Spain; 873 $m), and Muji (Asia Pacific; 355 $m).
“Today’s retailers have entered an era of infinite competition,” said Jez Frampton, Global Chief Executive of Interbrand. “These Best Retail Brands understand that every channel matters in the new landscape – and prove that though a multichannel approach is certainly more complex, if done strategically, it pays off.”
Damian Borchok, CEO of Interbrand Australia and New Zealand, added: “For Australian retailers facing the toughest marketplace in decades, the study provides some clear signposts towards what will drive success in the future.
The fusion of physical environments and technology will be key and winning retailers will place greater emphasis on customer insight and customer service. The role of the store will go beyond being a receptacle for merchandise and carrying out transactions; smart retailers are already working out that their stores can deliver memorable and engaging experiences that result in substantial commercial success.”
The most prominent global retail trends gaining relevancy across the sector include:
The Need to be Agile: Now that consumers decide how, when and where to interact, the only location for retail is where the customers are. Responsiveness trumps efficiency and adds value for customers. Brands like Uniqlo and Tesco are experimenting with new ways to better engage with customers. Tesco created a virtual grocery store in a Seoul subway station and Uniqlo built a summertime roller-rink and pop-up store in Manhattan.
Focus on the Path to Purchase: By returning their attention to the way consumers make purchase decisions, top brands find opportunities to innovate around pain points and build relationships. Today’s pathway is more complex, with digital tools enabling customers to conduct more robust research to identify the best value.
Every Brand is a Story: While retail has historically been extremely operationally focused, more retailers are looking to brand to build value. A brand must develop a theme beyond a shopper’s need for function and identity by adding even more emotion and dimension. The trick is to find the value beyond the transaction. The world’s best brands know what the customer values, and work relentlessly to provide it for them.
Leverage Design to Build Brand Value: Experience is the defining element of any brand. It provides the memory that prompts repeat use, or doesn’t. Shoppers expect their favorite brands to speak in a consistent voice, in-store, online and in traditional and digital channels. In retail it is extremely difficult to get all the customer-facing components to talk the same talk to convey consistency and relevancy. Design is the ticket to breaking out of an old brand identity to re-inspire your customers. It can help add excitement and drama to routine transactions and its storytelling ability can energise brand culture.
The Promise of Omnichannel Retail: A successful omnichannel strategy has the potential to revolutionise retail, but the typical state of cross channel commerce remains poor, plagued as it is by information silos, organisation issues, and non-interoperable programs that frustrate customers. Brands like Walmart, Boots, and Macy’s are aggressively taking steps to master the new omnichannel world. The challenge it represents is great, but so are the rewards.
Source: Interbrand press release
That Tesco virtual store again…
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