Table of Contents
Executive Summary
-
- The impact of COVID-19 on retailers
- Pandemic creates significant challenges
-
- Figure 1: Short-, medium- and long-term impact of COVID-19 on retail, 22 October 2020
- Brand leaders
- Amazon has high, frequent usage
-
- Figure 2: Top ranking of brands operating in the retail sector, by usage in the last 12 months, October 2017-July 2020
- Stalwarts of the scene are highly trusted
-
- Figure 3: Top ranking of brands operating in the retail sector, by agreement with “A brand that I trust”, October 2017-July 2020
- Retailers focus on loyalty schemes to turn commitment into purchases
-
- Figure 4: Top ranking of brands operating in the retail sector, by commitment (net of “I prefer this brand over others” and “It’s a favourite brand”), October 2017-July 2020
- Amazon is a one-of-a-kind retailer
-
- Figure 5: Top ranking of brands operating in the retail sector, by differentiation (net of “It’s somewhat different from others” and “It’s a unique brand”), October 2017-July 2020
- Smaller brands have the chance to make an impact
-
- Figure 6: Top ranking of brands operating in the retail sector, by positive endorsement (net of “Good” and “Excellent” reviews), October 2017-July 2020
- Recommendation is not necessarily dependent on satisfaction
-
- Figure 7: Top ranking of brands operating in the retail sector, by likely recommendation, October 2017-July 2020
- Brand reputation
- The importance of ethics will continue to grow
-
- Figure 8: Top ranking of brands operating in the retail sector, by agreement with “ethical”, October 2017-July 2020
- History on the market helps drives customer service reputation
-
- Figure 9: Top ranking of brands operating in the retail sector, by agreement with “A retailer that has great customer service”, October 2017-July 2020
- IKEA continues drive towards innovation
-
- Figure 10: Top ranking of brands operating in the retail sector, by agreement with “A retailer that is innovative”, October 2017-July 2020
- Traditional markers define exclusivity
-
- Figure 11: Top ranking of brands operating in the retail sector, by agreement with “Exclusive”, October 2017-July 2020
- Ensure alternative options are few and far between
-
- Figure 12: Top ranking of brands operating in the retail sector, by agreement with “A retailer that is worth paying more for”, October 2017-July 2020
- Concentrate on value rather than price for protection
-
- Figure 13: Top ranking of brands operating in the retail sector, by agreement with “A retailer that offers good value”, October 2017-July 2020
- Online services become more important in 2020
-
- Figure 14: Top ranking of brands operating in the retail sector, by agreement with “A retailer that provides a great online service”, October 2017-July 2020
The Impact of COVID-19 on Retailers
-
- Pandemic creates significant challenges
-
- Figure 15: Short-, medium- and long-term impact of COVID-19 on retail, 22 October 2020
-
- Figure 16: Concerns around exposure to COVID-19, 28 February-1 October 2020
- Certain categories struggle more than others
-
- Figure 17: Fashion and accessory purchases in the last three months, December 2016-September 2020
- Tap into the new role of the home
- A boom for online retail will benefit online specialists
-
- Figure 18: Retail behaviours, 16 April-1 October 2020
- Retailers reassess their online services
- Retailers engage with local community
- COVID-19 will be a driver of localism
- New markers of ethicality caused by COVID-19
-
- Figure 19: Retailer responsibilities, June 2020
- Target value to push back against dropping confidence
-
- Figure 20: Trends in consumer sentiment for the coming year, January 2009-September 2020
Brand Leaders – Key Takeaways
-
- Amazon continues to dominate – and influence – the market
- Essential retailers become closer to the community
- Heritage will be crucial to the retail comeback
Usage
-
- Amazon has high, frequent usage
- Consumers forced to recognise essential and non-essential retailers
-
- Figure 21: Top ranking of brands operating in the retail sector, by usage in the last 12 months, October 2017-July 2020
- Asda’s new ownership coincides with move into convenience
Trust
-
- Stalwarts of the scene are highly trusted
-
- Figure 22: Top ranking of brands operating in the retail sector, by agreement with “A brand that I trust”, October 2017-July 2020
Preference
-
- Amazon is a go-to for Prime and non-Prime members
-
- Figure 23: Top ranking of brands operating in the retail sector, by commitment (net of “I prefer this brand over others” and “It’s a favourite brand”), October 2017-July 2020
- Retailers use membership schemes to capitalise on preference
Differentiation
-
- Amazon is a one-of-a-kind retailer
-
- Figure 24: Top ranking of brands operating in the retail sector, by differentiation (net of “It’s somewhat different from others” and “It’s a unique brand”), October 2017-July 2020
- Associations with luxury and glamour promote differentiation
- Unique store settings contribute to standout
Satisfaction and Recommendation
-
- Smaller brands have the chance to make an impact
- Amazon’s satisfaction keeps it ahead of the pack
-
- Figure 25: Top ranking of brands operating in the retail sector, by positive endorsement (net of “Good” and “Excellent” reviews), October 2017-July 2020
- Recommendation is not necessarily dependent on satisfaction
-
- Figure 26: Top ranking of brands operating in the retail sector, by likely recommendation, October 2017-July 2020
Brand Reputation – Key Takeaways
-
- Ethicality is for the long term
- Create value in other ways
- Investing in online services is crucial
Ethicality
-
- The importance of ethics will continue to grow
-
- Figure 27: Top ranking of brands operating in the retail sector, by agreement with “ethical”, October 2017-July 2020
- Retailers seek to limit plastic usage
- Brands can do more to aid recycling
- Food retailers can target food waste
Customer Service
-
- History on the market helps drives customer service reputation
-
- Figure 28: Top ranking of brands operating in the retail sector, by agreement with “A retailer that has great customer service”, October 2017-July 2020
- Online specialists redefine customer service
Innovation
-
- IKEA continues drive towards innovation
-
- Figure 29: Top ranking of brands operating in the retail sector, by agreement with “A retailer that is innovative”, October 2017-July 2020
- Store developments stall as online becomes a bigger focus
- Food retailers look to the future
Premium and Prestige
-
- Traditional markers define exclusivity
-
- Figure 30: Top ranking of brands operating in the retail sector, by agreement with “Exclusive”, October 2017-July 2020
- Ensure alternative options are few and far between
-
- Figure 31: Top ranking of brands operating in the retail sector, by agreement with “A retailer that is worth paying more for”, October 2017-July 2020
Value
-
- Concentrate on value rather than price for protection
-
- Figure 32: Top ranking of brands operating in the retail sector, by agreement with “A retailer that offers good value”, October 2017-July 2020
Online Service
-
- Online services become more important in 2020
-
- Figure 33: Top ranking of brands operating in the retail sector, by agreement with “A retailer that provides a great online service”, October 2017-July 2020
- COVID-19 will encourage virtual innovation
- Specialists focus on convenience of online
- Grocery retailers extend services to meet demand
- Aiding the online journey
Appendix – Data Sources, Abbreviations and Supporting Information
-
- Abbreviations
Appendix – Brands Covered
Back to top