JB Hi-Fi and Bunnings were the two stand-out performers as Australia’s most loved retail brands, according to a new global report by BrandAsset Valuator (BAV).
The Global Most Loved Retailers report ranked retailers according to four different types of brand love – Dependable Love (solid and reliable), Aspirational Love (stylish and prestigious), Inspirational Love (stimulating and innovative) and Spirited Love (playful and joyful).
Both JB Hi-Fi and Bunnings featured in the top 10 across the same three categories (all but Aspirational Love).
Officeworks ranked first in the Dependable Love category ahead of Woolworths in second; IKEA was crowned the winner in the Inspirational Love category, ahead of Amazon, Apple and eBay with JB Hi-Fi rounding out the top five, and in the Spirited Love category, EB Games took out top spot ahead of Vans and Kmart.
BAV research found that the top 10% of ‘most loved’ Australian brands are 55% more likely to be trusted, 80% more likely to be recommended and hold 33% greater pricing power.
According to BAV Group chairman, David Roth, brand love reflects depth of emotional commitment. “A strong bond pays off not only today, but in the lifetime value of the customer.”
The research surveyed over 14,000 people in Australia and included 180 Australian retail brands.