The research, which rates the top 100 retailers by how loved they are by consumers, also identifies a direct correlation between an emotive brand connection and commercial return.
Brand love has a positive impact on customer word-of mouth and commitment, as well as the willingness to pay a price premium. A loved brand is also more likely to be forgiven in the instance of a poor experience.
The data suggests that the hallmarks of brand affinity include a strong customer connection, a highly engaging and straightforward shopping experience, and a product which offers either excellent value for money, or is of a quality that is worth paying slightly more for.
Caroline Hawkings, SVP at Savanta, commented: “Whilst these are undoubtedly turbulent times for the retail industry, our research highlights the opportunities there are for brands to survive and thrive. Retailers need to establish deeper, more emotive brand connections with customers, which ensure standout and differentiation. The brands most adept at fully embracing true customer affinity – or love – will prosper.”
Data is drawn from Savanta’s market intelligence platform, BrandVue Retail: the largest and most comprehensive brand, audience and customer tracking engine in the market.