Amazon has scored the highest for “desirability and competitive pricing” in a global poll conducted as part of Millward Brown’s Value-D study, and is the only retailer to make the top five. The online retailer is balancing its brand perception with its pricing strategy effectively, according to a new report from the brand research company entitled: ‘Value-D: balancing Desire and Price for brand success’. Lidl the value food retailer, just makes it into the list at number ten.
Looking at the UK alone, more retailers make it into the top ten. Amazon.co.uk again tops the UK poll, Ebay comes in fourth and Asda fifth.
The report, carried out in conjunction with The Future Company, found that only 7% of consumers make purchases based on price alone, while 81% give brand as an important reason to purchase. Clearly even in this extended economic downturn, price isn’t enough to win over customers, so brands must focus on building desire, the report concludes.
“In the current economic climate many brands worry about their prices being perceived as being too high, leading to lost business. Others are concerned that prices are too low leading to profit loss. What is needed is a balance between the consumer’s desire for a brand and the price they are prepared to pay for it. This new report will help brands to see where there is a shortfall and how to increase sales potential,” said Peter Walshe, global BrandZ director, Millward Brown.
Global Top 10 Value-D brands
1. Amazon
2. Colgate
3. Nokia
4. Pampers
5. Visa
6. Coca-Cola
7. Microsoft
8. McDonald’s
9. Nescafé
10. Lidl
UK Top 10 Value-D brands
1. Amazon.co.uk
2. Colgate
3. Microsoft
4. Ebay
5. Asda
6. Nescafé Original
7. DHL
8. Visa
9. McDonald’s
10. Dove
