Study: Top retail brands include repeat performers

Results of the 2016 Harris Poll EquiTrend Retail Brands of the Year study show that some retail chains truly “get it” when it comes to engaging consumers.



Two retailers were named top brand in their respective categories for the fourth straight year. These are the Home Depot, which has been named hardware and home brand of the year. And Kohls.com, which has been named online department store brand of the year.



Other top brands in their respective categories include Macy's as department store of the year, Nordstrom as luxury department store of the year, T.J. Maxx as off-price retailer of the year, Best Buy Stores as electronics store of the year, DSW Shoes as discount shoe store of the year, and Cabela’s as sporting goods store of the year.



The study also shows that compared to other award industries assessed, retail ranks high on the brand equity scale, placing third just behind the restaurant industry. Food was the top-ranked industry, with technology and travel rounding out the top five industries.



Within retail, hardware & home store was the top-ranked category. Following in order from second- to eighth-ranked were department store, electronics store, off-price, sporting goods, luxury department store, online department store, and discount shoes.



"The Harris Poll shows that most retail categories have above-average brand equity scores," said Joan Sinopoli, VP of brand solutions at Nielsen, which owns The Harris Poll. "Hardware and home has the strongest equity rating, and baby boomers and GenX shoppers – consumers who are investing in home improvements and moving up from starter homes – are driving that. To maintain their strong brand equity, hardware and home retailers will need to understand the increasing number of millennials entering the market–consumers who are more likely to make their rentals into longer-term nests, or who are able to satisfy their pent-up need to become first-time home buyers."



Other notable figures from Nielsen and Harris Poll include:

·Seventy percent of U.S. consumers made an apparel purchase in the past six months, and most of those purchases have been made at a physical store location.



·Online sales are expected to grow 12% by 2020, higher than all other retail channels.



More than 97,000 U.S. consumers assessed more than 200 retail brands for the study. A brand's equity is determined by a calculation of familiarity, quality and purchase consideration.