WPP’s BAV in collaboration with the World Retail Congress today launches ‘The BAV Most Influential Retailers – 2023’ at The 2023 World Retail Congress in Barcelona.
Retail brands from all over the globe, and retailers spanning the physical-digital worlds, feature in the inaugural BAV Top 20 Most Influential Retail Brands 2023 analysis and report.
Brand Influence is a new BAV measure that calculates and ranks a brand’s power to be able to stand out in culture. This new study shows how brand Influence leads to changes in the way consumers behave, which can supercharge the business’s bottom line.
In addition to the Most Influential Global Retail Brands the study reveals the 20 Most Influential Retail Brands in four key regions: EMEA, Asia-Pacific, North America and Latin America, looking at which retailers have the most Brand Influence and how they have achieved it.
Brand Influence is calculated using WPP’s BAV proprietary methodology, based on consumer interviews in more than 50 countries on more than 60,000 different brands. It links how people think and feel with how they behave and includes consumers’ likelihood to recommend a brand.
The study Identifies nine attributes that are drivers of brand Influence: Trust, Innovation Purpose, Performance, being Contemporary, Status, Authenticity, Fun and Convenience.
The Top 20
The BAV Top 20 Most Influential Retail Brands 2023 globally are:
Adidas, Alibaba, Amazon, Apple, Costco, Decathlon, Diesel, Disney, Home Depot, IKEA, Lego, Lidl, Mercado Libre, Natura, Muji, Nike, Target, The North Face, Victoria’s Secret and Xiaomi.*
Being Influential is about winning not just scale or fame, but hearts and minds.
“Being Influential is about winning not just scale or fame, but hearts and minds. It’s about taking the lead on doing something special, new or different in a way that creates the power to stand out in culture,” said Divya Munjal, Director of Strategy at WPP’s BAV.
“Influence helps convince people to buy from a brand, stay loyal to it and potentially pay a premium for it – all vital, particularly now, when consumers are scrutinising what they spend like never before. Influential brands often feel like ‘the right choice’.”
“There is no single route to achieving brand influence. Each of these attributes, ideally in combination with one or two others, can fuel brand growth and increase shareholder returns. The key is establishing what combination of attributes is right for your brand to own, get that right and success follows” Munjal said.
This study shows the immense impact and contribution to culture that retailers have across the world.
“Brands are one of the main drivers of value to a retail business and, in turn, to its shareholders and other stakeholders,” said Ian McGarrigle, Chairman, World Retail Congress.
“This study shows the immense impact and contribution to culture that retailers have across the world. We have also seen extraordinary examples of retailers who have taken what were once quite niche discussions about supply chains, business transparency and strong corporate citizenship and put them firmly on the public agenda. That’s real influence. ”
