The online retailer scored the highest for “desirability” and competitive pricing in the world and UK poll conducted as part of Millward Brown’s Value-D study.
The report found that price is not enough to win over customers, despite the current economic climate, so brands must focus on building desire.
Only 7% of consumers make purchases based on price alone while 81% give brand as an important reason to purchase, the study says.
Low cost brands can be viewed by consumers as low value if they don’t create desire while expensive brands that cultivate desire are often regarded as good value, it adds.
Peter Walshe, global BrandZ director, says: “What is needed is a balance between the consumer’s desire for a brand and the price they are prepared to pay for it. This new report will help brands to see where there is a shortfall and how to increase sales potential.”
The report is a sub-group of Millward Brown’s BrandZ report, which Marketing Week will exclusively reveal in May.
Global Top 10 Value-D brands
UK Top 10 Value-D brands
6. Nescafé Original