Insights company Kantar and creative agency WPP released their second annual ranking of the most valuable brands in Canada, and the list includes a store brand.
The Brandz Top 40 Most Valuable Canadian Brands ranking looks at total sales generated during the year but also factors in consumer perceptions and loyalty toward a brand.
The report said retail companies were one of the fastest to climb the rankings, up 13% in total value, driven by discounter and grocery stores. Four retailers were noted as the fastest climbers such as Food Basics (no.36, $419 million); Dollarama (no.15, $1.9 billion); Sobeys (no.34, $466 million); and Shoppers Drug Mart (no.20; $1.7 billion).
Also on the list representing the growth of private brands in the last year, the ranking had Loblaw’s store brand food brand President’s Choice ranked 33rd as a standalone brand. The private label amassed $505 million in sales and stood out for its score in “brand love.” The report said President’s Choice rose in the rankings by 12.4% by “managing to navigate the tricky balance between offering value-loving Canadians the prices they like, while also securing strong scores for Brand Love – one of the key pillars of long-term value creation.”
In total, all of the 40 brands amount to $135 billion, which is actually down 6% from last year, likely due to challenges presented by the coronavirus pandemic.
Five out of the top 10 brands in the ranking were financial institutions and three of them were telecom providers. Tim Hortons and apparel brand Lululemon also made the top 10.
"The top Canadian brands have demonstrated their staying power, in a year of high economic and social disruption,” said David Roth, chairman of BrandZ. “They've proved what we've often seen in challenging times — that great brands cushion the blow of a crisis — and have largely held their value. Perhaps this isn't surprising, as Canada has built many iconic brands, so beloved that they seem like part of the national fabric. Difference is the key factor driving both value and resilience."
The full list of brands on the top 40 ranking are available here.