It’s out: Interbrand’s Best Retail Brands report for 2013. The annual report ranks the top 50 U.S. retail brands by brand value. The usuals such as Wal-Mart and Target are there, but there are also some rising stars on the list: Cabela’s and Anthropologie, for example.
Are you watching how these brands have found success? There are lessons to be learned, no matter the size of your business.
Here are four strategies to borrow from some of the brands that made the list:
1. Make your branding rock-solid.
Almost 10 years ago, Macy’s wasn’t just Macy’s. It was also Bon Marche in Florida and Marshall Field’s in Chicago. Now, it’s just Macy’s, which is working out wonderfully for the department store’s branding. Macy’s has an unwavering brand strategy throughout the U.S., and its brand value is up 62% from last year.
2. Give customers what they want.
Amazon is a prime example of how it pays to know your customers well and consistently meet their needs. Everybody wants the best deal on their purchases, whether they’re buying diapers or electronics, and Amazon offers the goods quickly and for less than many retailers. As a result, the e-commerce brand’s value skyrocketed to the #4 position on this year’s list, up from #9 last year.
3. Serve up the best-ever customer experience.
Cabela’s, the “world’s foremost outfitter,” landed on this year’s list for the first time (it claimed spot #49) because of its steadfast commitment to the customer experience. Cabela’s has become a place for outdoorsmen to shop in their own habitat. There are majestic wildlife displays right alongside miles of aisles of outdoor gear. But it’s not just about the shopping—it’s about the experience. Shoppers can tell and hear stories, and connect with people who share the same outdoor passions.
4. Strive to be inimitable.
Anthropologie, the ever-inspiring spot to shop for women’s clothing, accessories and home décor, doesn’t want to be like any other retailer. It has carved out a gorgeously unique niche, and it constantly explores ways to bring its charm to a broader audience. Anthropologie only opened 15 new stores last year (and there are less than 200 total locations), but each has a refreshingly different feel.
Promo know-how tip:
Use promotional products to help shape your brand. They can educate, inspire and motivate your audience. Our Brand Consultants are a great creative resource—reach out to them for your next campaign.