The most valuable retail brand in the United States has been revealed in a report just released by Interbrand.
Walmart took the top spot by a huge margin, followed by Best Buy, Home Depot, Target and CVS. With a brand value of $129 billion, Walmart – which has made a concerted effort over recent years to understand its consumer base and has carved out a niche for value-driven shoppers – is, in fact, the most valuable retail brand in the world.
The study also reveals that brand now accounts for 25% of the decision to shop at a particular store, so those who are prospering are the ones who understand the importance of their brand.
In a recession, retailers who have a clear, well-positioned brand have a better chance of keeping their existing customers and enticing others away from their competitors. The key to a successful brand is to be able to adapt to the changing economy, yet continue to engage and deliver a unique experience to the consumer. A renewed focus on brand at this time will help companies to continue through the difficult days ahead.