In its annual Harris Poll EquiTrend Study, which measures a brand’s “health over time,” Macy’s Inc. was one of over a dozen biggest gainers in brand equity.
The annual study’s equity index is comprised of three metrics that include quality, familiarity and “purchase consideration.” The brands that score the highest are named “Brand of the Year” in its category. This year, there were more than 97,000 consumers polled and more than 3,800 brands assessed from about 500 different categories across the consumer discretionary sector.
Some of the “Brand of the Year” winners include Apple, Google, Fitbit, DSW, kohls.com and TJ Maxx.
Harris analysts said this year’s survey revealed 13 brands that increased their brand equity more than six percent over the prior year. Harris said of the 13 biggest gainers, six are tech brands. Aside from Macy’s, the gainers include: Netflix; Nintendo 3DS/3DS XL; Samsung Galaxy Gear Watch; YouTube, and Sony Home Electronics.
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Joan Sinopoli, vice president of brand solutions at Nielsen, corporate parent of The Harris Poll, said that it is “no secret that technology has completely permeated our lives, and this is reflected by the range of technology brands experiencing unusually rapid increases in equity.”
“We watch, we wear, we listen, we play and we connect, using multiple devices to do so,” Sinopoli said. “We’re even shopping for real estate online. As U.S. consumers continue to conduct daily activities via technology, we can expect technology brands delivering on their brand promises to make equity gains.”
Sinopoli went on to say that consumers develop impressions of brands “long before they ever use them, based on their perceptions and what they may know from trusted sources. This high-level equity is the gateway to eventual purchase; it also helps to protect brands from the consequences of an occasional misstep. The strength of a company’s brand equity can have direct business and financial outcomes.”