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Americans' Perceptions of Luxury Brands Rising Despite Flagging Economy, Finds 2013 Harris Poll EquiTrend® Study
Submitted by admin on 3/20/2013 @ 4:05 AM
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Harris Interactive
NEW YORK, March 20, 2013 /PRNewswire/ -- As Americans continue to receive conflicting messages about the state of the economy and a potential upcoming recession, findings from the 2013 Harris Poll EquiTrend® (EQ) study show many luxury brands made gains in brand equity over the past year. More than 1,500 brands were assessed across over 155 categories this year, and high end companies - from auto makers to department stores - fared better than in years past in ratings based on the Harris Poll EquiTrend Brand Equity Index, which is comprised of three key factors: Familiarity, Quality and Purchase Consideration.
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Findings from the 25(th) annual study show that high end automotive companies in particular received higher Brand Equity rankings than in prior years. While Mercedes-Benz took the top spot among Luxury Automotive brands for the third year in a row, five other luxury auto brands - Acura, Audi, BMW, Infiniti and Land Rover - received their highest scores ever in the study, suggesting a strong recovery in the industry at large, particularly in the high end category. Harley-Davidson Motorcycles also reached its highest score in the study's history, at the same time regaining the top spot as the 2013 Harris Poll EquiTrend Motorcycle Brand of the Year.
"There's been a lot of discussion in the media as to whether 2013 will bring about another recession, so it's interesting to see equity is on the rise for luxury brands typically associated with higher discretionary income, even as other economic indicators suggest a possible downturn," said Aron Galonsky, Senior Vice President, Brand and Communication Consulting at Harris Interactive. "This may show that after a number of years spent tightening their belts, consumers are looking to the quality and value they feel these brands provide."
An increase in brand affinity - and potentially related sales - among higher end brands is in-line with findings from a recent Harris Poll that showed a decrease over the past few years in the number of Americans who plan to save more in the year ahead and cut back on household spending, suggesting the appeal of luxury items stayed strong even while such purchases were deferred in tough economic circumstances.
Other luxury lifestyle brands, including Saks Department Stores and MAC Cosmetics, saw increases in their scores from 2012 - and are both top ranked in their respective categories. Both brands had gains of almost 10 points (8.9 and 9.3, respectively) from the year prior. And while Starwood Hotels & Resorts topped the luxury hotel chain category, InterContinental Hotels & Resorts hit its highest score yet in that category, rising more than 13 points from its lowest score back in 2008.
"Understanding the health of your brand is a critical component in determining the business priorities for companies in any industry," continued Galonsky. "The higher scores point to increased consumer affinity and likelihood to purchase from these companies."
2013 Harris Poll EquiTrend Brands of the Year
Primary Category Award Category Award Brand
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Airlines Full Service Airline Alaska/Horizon Airlines
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Airlines Value Airline Southwest Airlines
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Apparel/Accessories - Clothing Sporting Apparel Under Armour Apparel
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Apparel/Accessories - Footwear Running Shoe Merrell Running Shoes
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Appliances Coffee Maker Keurig Coffee Maker
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Appliances Major Appliance Kenmore Major Appliances
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Appliances Small Kitchen Appliance Crock-Pot Small Appliances
---------- ----------------------- --------------------------
Automotive Car Rental Enterprise Rent-A-Car
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Automotive Manufacturers Full Line Automotive Toyota Vehicles
------------------------ -------------------- ---------------
Automotive Manufacturers Luxury Automotive Mercedes-Benz Vehicles
------------------------ ----------------- ----------------------
Automotive Manufacturers Motorcycle Harley-Davidson Motorcycles
------------------------ ---------- ---------------------------
Automotive Manufacturers Recreation Vehicle Jayco Recreational Vehicles
------------------------ ------------------ ---------------------------
Automotive Service Centers Auto Service Center Discount Tires
-------------------------- ------------------- --------------
Automotive Supplier Car Audio Bose In-Vehicle Audio
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Automotive Supplier Motor Oil Valvoline Motor Oil
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Automotive Supplier Tire Michelin Tires
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Beverages - Beer Beer Yuengling Traditional Lager
---------------- ---- ---------------------------
Beverages - Beer Light Beer Sam Adams Light
---------------- ---------- ---------------
Beverages - Coffee Coffee Folgers Ground Coffee
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Beverages - Energy Drink Energy Drink Full Throttle Energy Drink
------------------------ ------------ --------------------------
Beverages - Fruit Drink Fruit Flavored Drink 5 Alive Juice
----------------------- -------------------- -------------
Beverages - Fruit Drink Fruit Juice Ocean Spray Juices
----------------------- ----------- ------------------
Beverages - Soft Drink Diet Soft Drink Sprite Zero
---------------------- --------------- -----------
Beverages - Soft Drink Soft Drink Coca-Cola
---------------------- ---------- ---------
Beverages - Tea Bottled Iced Tea AriZona Bottled Tea
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Beverages - Tea Hot Tea Lipton Teas
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Beverages - Water Bottled Water Deer Park Bottled Water
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Casinos Las Vegas Casino Bellagio Casino, Las Vegas
------- ---------------- --------------------------
Computer-Related Products Computer Apple Computers
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Computer-Related Products Printer HP Printing & Imaging
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Computer-Related Products Tablet Computer Apple iPad Series (Tablet)
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Cruise Line Cruise Line Norwegian Cruise Line
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Electronics Consumer Electronics Sony Home Electronics
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Electronics Digital Camera Canon Digital Camera
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Electronics GPS Navigation System Garmin Navigation System
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Entertainment/Recreation Gaming Console Microsoft Xbox 360
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Entertainment/Recreation Video Streaming App YouTube
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Financial Services - Bank National Bank CHASE Bank
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Financial Services - Bank Super Regional Bank Ally Bank
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Financial Services - Insurance Insurance USAA Financial Services
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Financial Services - Investment Investment Fidelity Investments Financial Services
------------------------------- ---------- ---------------------------------------
Financial Services - Payment Card Payment Network Visa
--------------------------------- --------------- ----
Primary Category Award Category Award Brand
---------------- -------------- -----------
Foods Cookie Oreo Cookies
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Foods Energy Bar Clif Energy Bars
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Foods Yogurt Yoplait Yogurt
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Foods - Candy Chocolate Candy Reese's Peanut Butter Cups Chocolate Candy
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Foods - Candy Gum Extra Gum
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Foods - Candy Non-Chocolate Candy Life Savers Candy
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Foods - Candy Premium Chocolate Ghirardelli Chocolate
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Foods - Snacks Popcorn Orville Redenbacher's Popcorn
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Foods - Snacks Salty Snack Lay's Chips
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Greeting Card Greeting Card Hallmark Greeting Cards
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Health and Beauty Products - Cosmetics Mass-Market Cosmetics Neutrogena Cosmetics
-------------------------------------- --------------------- --------------------
Health and Beauty Products - Cosmetics Prestige Cosmetics M?A?C Cosmetics
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Health and Beauty Products - Other Sun Screen Neutrogena Suncare
---------------------------------- ---------- ------------------
Health Care Health Insurance Blue Cross and Blue Shield
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Health Care Weight-Loss Plan Weight Watchers
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Hotels Economy Hotel America's Best Value Inn
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Hotels Extended Stay Hotel MainStay Suites
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Hotels Full Service Hotel Hilton Hotels & Resorts
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Hotels Luxury Hotel Starwood Hotels & Resorts
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Hotels Mid-Market Hotel Holiday Inn Express Hotels & Resorts
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Household Products Other Faucet Moen Faucets
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Household Products Other Gas Grill Weber Gas Grills
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Household Products Other Household Cleaner Lysol All Purpose Cleaner
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Household Products Other Kitchen Cabinetry KraftMaid Cabinets
------------------------ ----------------- ------------------
Household Products Other Lawn Mower John Deere Lawn Mowers
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Household Products Other Mattress Tempur-Pedic Mattress
------------------------ -------- ---------------------
Household Products Other Paint KILZ
------------------------ ----- ----
Household Products Other Power Tool Craftsman Tools
------------------------ ---------- ---------------
Household Products Other Vacuum Cleaner Dyson Vacuum
------------------------ -------------- ------------
Household Products Other Window Covering Hunter Douglas Blinds & Shades
------------------------ --------------- ------------------------------
Magazine Business Magazine Forbes Magazine
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Magazine General Interest Magazine Consumer Reports
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Magazine Weekly News Magazine The Economist Magazine
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Magazine Women's Magazine Real Simple Magazine
-------- ---------------- --------------------
News service News Service Google News
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Non-Profit Corporations Animal Welfare Non-Profit American Society for the Prevention of Cruelty to Animals (ASPCA)
----------------------- ------------------------- ----------------------------------------------------------------
Non-Profit Corporations Disability Non-Profit Wounded Warrior Project
----------------------- --------------------- -----------------------
Non-Profit Corporations Environmental Non-Profit Nature Conservancy
----------------------- ------------------------ ------------------
Non-Profit Corporations Health Non-Profit American Heart Association
----------------------- ----------------- --------------------------
Non-Profit Corporations International Aid Non-Profit Doctors Without Borders/Medecins Sans Frontieres (MSF)
----------------------- ---------------------------- ------------------------------------------------------
Non-Profit Corporations Social Services Non-Profit American Red Cross
----------------------- -------------------------- ------------------
Non-Profit Corporations Youth Non-Profit Girl Scouts of the USA
----------------------- ---------------- ----------------------
Primary Category Award Category Award Brand
---------------- -------------- -----------
Online Organizations E-Retailer Amazon.com
-------------------- ---------- ----------
Online Organizations Health Information Website MayoClinic.com
-------------------- -------------------------- --------------
Online Organizations Online Auto Shopping Kelley Blue Book (KBB.com)
-------------------- -------------------- -------------------------
Online Organizations Online Computer Retailer Newegg.com
-------------------- ------------------------ ----------
Online Organizations Online Deal Woot.com
-------------------- ----------- --------
Online Organizations Online Department Store Kohls.com
-------------------- ----------------------- ---------
Online Organizations Online Job Search Indeed.com
-------------------- ----------------- ----------
Online Organizations Online Mass Merchandiser Walmart.com
-------------------- ------------------------ -----------
Online Organizations Online Office Supply Retailer Staples.com
-------------------- ----------------------------- -----------
Online Organizations Online Travel Service Expedia.com
-------------------- --------------------- -----------
Over-the-Counter Products OTC Cold / Allergy Vicks Cold and Flu Products (DayQuil/NyQuil)
------------------------- ------------------ --------------------------------------------
Over-the-Counter Products OTC Digestive Aid TUMS
------------------------- ----------------- ----
Over-the-Counter Products OTC Fiber Supplement FiberCon
------------------------- -------------------- --------
Over-the-Counter Products OTC Laxative Dulcolax
------------------------- ------------ --------
Over-the-Counter Products OTC Pain Relief Tylenol Pain Relievers
------------------------- --------------- ----------------------
Over-the-Counter Products OTC Sleep Aid Tylenol PM
------------------------- ------------- ----------
Pet Food Cat Food Blue Buffalo Cat Food
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Pet Food Dog Food Blue Buffalo Dog Food
-------- -------- ---------------------
Resorts/Attractions Amusement Attraction Disney Theme Parks
------------------- -------------------- ------------------
Restaurants Casual Dining Restaurant Panera Bread
----------- ------------------------ ------------
Restaurants Coffee & Quick Service Restaurant Dunkin' Donuts Stores
----------- --------------------------------- ---------------------
Restaurants Fast Casual Mexican Restaurant Chipotle Mexican Grill
----------- ------------------------------ ----------------------
Restaurants Italian Dining Restaurant Olive Garden Italian Restaurants
----------- ------------------------- --------------------------------
Restaurants Pizza Chain Pizza Hut
----------- ----------- ---------
Restaurants Quick Service Restaurant Subway
----------- ------------------------ ------
Retail Gasoline Gasoline Costco Gasoline
--------------- -------- ---------------
Retail Store Convenience Store QuikTrip Convenience Store
------------ ----------------- --------------------------
Retail Store Department Store Kohl's Department Store
------------ ---------------- -----------------------
Retail Store Hardware & Home Store The Home Depot
------------ --------------------- --------------
Retail Store Luxury Department Store Saks Department Store
------------ ----------------------- ---------------------
Retail Store Mass Merchandiser Target Stores
------------ ----------------- -------------
Retail Store Office Supply Store Staples Stores
------------ ------------------- --------------
Retail Store Off-Price Retailer Marshalls Stores
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Retail Store Pharmacy Walgreens Pharmacy
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Retail Store Sporting Goods Store Cabela's
------------ -------------------- --------
Retail Store Value Store Dollar Tree
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Retail Store Warehouse Club Costco
------------ -------------- ------
Sports Sports League NFL (National Football League)
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Telecommunications Mobile Network Verizon Mobile Network
------------------ -------------- ----------------------
Telecommunications Mobile Phone Apple iPhone
------------------ ------------ ------------
Telecommunications Pre-Paid Mobile Carrier Verizon Wireless (no contract wireless phone)
------------------ ----------------------- --------------------------------------------
Primary Category Award Category Award Brand
---------------- -------------- -----------
Television Factual Entertainment TV History Channel
---------- ------------------------ ---------------
Television General Entertainment TV A&E Television Network
---------- ------------------------ ----------------------
Television Kids' TV Boomerang Television Network
---------- -------- ----------------------------
Television Music TV CMT Network (Country Music Television)
---------- -------- -------------------------------------
Television Pay Cable TV Network HBO Television Network
---------- -------------------- ----------------------
Television Sports TV ESPN Television Network
---------- --------- -----------------------
Television TV Network PBS Television Network (Public Broadcasting Service)
---------- ---------- ---------------------------------------------------
Television TV News The Weather Channel
---------- ------- -------------------
Harris Poll EquiTrend® Methodology
A sample of 38,814 U.S. consumers ages 15 and over were surveyed online by Harris Interactive from January 11 through February 8, 2013 and the survey took an average of 35 minutes to complete. The sample was from the Harris Interactive online panel of respondents, a database consisting of over a million cooperative respondents who have double-opted in to be randomly invited by Harris Interactive to take part in online surveys. The total number of brands rated was 1,511. Each respondent was asked to rate a total of 40 randomly selected brands. Each brand received approximately 1,000 ratings. Data were weighted to be representative of the entire U.S. population of consumers ages 15 and over based on age by sex, education, race/ethnicity, region, income, and data from respondents ages 18 and over were also weighted for their propensity to be online. This is the same precision weighting approach Harris has used to become the leading online polling organization when calling elections.
The Brand Equity Index is the keystone to the EquiTrend program providing an understanding of a brand's overall strength. A brand's Equity is determined by a calculation of Familiarity, Quality and Purchase Consideration. Brand of the Year is determined by a simple ranking of brands.
An academic study recognized the Harris Poll EquiTrend® Brand Equity model as a proven predictor of stock performance during the 2008 financial downturn, and thus was validated as a new tool to help investors and analysts hedge market investments. The results of the academic study findings appear in the September 2012 issue of the International Journal of Research in Marketing in the paper titled, "The Performance of Global Brands in the 2008 Financial Crisis: A Test of Two Brand Value Measures." The paper was authored by Johny K. Johansson, Claudiu V. Dimofte and Sanal K. Mazvancheryl.
The Harris Poll EquiTrend® study results disclosed in this release may not be used for advertising, marketing or promotional purposes without the prior written consent of Harris Interactive.
Product and brand names are trademarks or registered trademarks of their respective owners.
About Harris Interactive
Harris Interactive is one of the world's leading market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll® and for pioneering innovative research methodologies, Harris offers proprietary solutions in the areas of market and customer insight, corporate brand and reputation strategy, and marketing, advertising, public relations and communications research. Harris possesses expertise in a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Additionally, Harris has a portfolio of multi-client offerings that complement our custom solutions while maximizing our client's research investment. Serving clients in more than 196 countries and territories through our North American and European offices, Harris specializes in delivering research solutions that help us - and our clients--stay ahead of what's next. For more information, please visit www.harrisinteractive.com
Press Contact:
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Harris Interactive
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SOURCE Harris Interactive