How does Amazon, Walmart and Target fare in terms of being “meaningful,” “salient” and “different” to shoppers — three areas Kantar considers to be foundational principles of brand equity? The insights company found Amazon is far ahead of the competition.
Highlighting its BrandZ proprietary brand equity measurement tool, Kantar looked at the leading retailers in its BrandZ Insights study and found Amazon has developed a large brand equity gap over Walmart, Target and many retailers. The insights group said on its BrandZ Power Index, which measures the ability to drive current market share, where an average retailer scores 100, Amazon scored 289.
The score, according to Kantar, shows that Amazon, in the eyes of consumers, is simultaneously meaningful, salient and different, which the BrandZ valuation considers to be core building blocks of brand equity. In a similar Potential Index in the valuation toolkit, Walmart and Target both scored less than 100 in the area of “Difference,” while Amazon scored more than 200. The insights company said it’s an area that needs to be strengthened by Target and Walmart.
Kantar’s BrandZ Valuation Methodology takes consumer viewpoints and assesses brand equity, and how consumers perceive and feel about a brand as a measure of potential success or opportunity. The quantitative consumer research is conducted on an ongoing basis worldwide. Globally, the research covers more than 3.8 million consumer interviews in more than 500 categories, and almost 18,000 different brands in more than 50 markets.
The BrandZ Insights 2021 US Retail ranking report can be found here.