JC Lupis | Marketing Charts | Mon, 25 Jul 2016 13:30:00 +0000

The food industry has the highest overall brand equity with US consumers, details the Harris Poll in releasing further data from its latest EquiTrend Study. The food industry’s composite score of 65 (based on familiarity, quality and purchase consideration of food brands) tops its closest rival, the restaurant industry (63.8), which itself edged the retail sector (63.5).HarrisPoll-Industries-Ranked-by-Brand-Equity-Jul2016

Within the retail sector, the subject of the latest release, hardware & home stores (70.2) represent the top category, with a brand equity score of 70.2. Department stores (66.1) and electronics stores (63.9) also have relatively high brand equity figures, with off-price retailers (62.4) a little further behind. (Recent data from the NPD Group indicates that two-thirds of shoppers purchase at off-price retail outlets, and these off-price buyers make three-quarters of all retail apparel purchases.)

Returning to the industry rankings, technology (62.6) comes in 4th place among the 13 award industries assessed. It’s an interesting finding, given that the tech industry has the best reputation among US adults, with separate research showing that the computer industry leads all others in positive ratings.

Following technology and rounding out the top 5 industries is travel (60.9), which narrowly beat out the beverage (60.7) and media (60.5) industries. The industry with the worst overall brand equity is the telecom (52.5) industry, possibly due to low customer satisfaction rates for internet service providers.

In looking at various brand leaders, the report shows that;

  • The Home Depot topped the list of hardware and home stores;
  • Best Buy led all electronics stores;
  • Macy’s is the leading department store; but
  • Kohls.com has the best brand equity of online department stores.

More industry-specific coverage of the Harris Poll EquiTrend rankings can be found in the following articles:

  • Which Media Categories Have the Highest Brand Equity With Consumers?
  • Which Financial Services Brands Have The Best Equity With Consumers?
  • About the Data: The Harris Poll describes its methodology in part as follows:

    “The 2016 Harris Poll EquiTrend Study is based on a sample of 97,120 U.S. consumers ages 15 and over surveyed online, in English, between December 22, 2015 and February 1, 2016. The survey took an average of 30 minutes to complete. The total number of brands rated was 3,837. Each respondent was asked to rate a total of 40 randomly selected brands. Each brand received approximately 1,000 ratings. Data was weighted to be representative of the entire U.S. population of consumers ages 15 and over based on age by sex, education, race/ethnicity, region, income, and data from respondents ages 18 and over were also weighted for their propensity to be online. Respondents for this survey were selected from among those who have agreed to participate in Harris Poll surveys. Because the sample is based on those who agreed to participate in our panel, no estimates of theoretical sampling error can be calculated.

    The Brand Equity Index is the keystone to the EquiTrend program, providing an understanding of a brand’s overall strength. A brand’s Equity is determined by a calculation of Familiarity, Quality and Purchase Consideration. Brand of the Year is determined by a simple ranking of brands.”

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