Despite a record number of retail bankruptcies, the retail category leads an annual ranking of the brands that customers are most loyal to.
Amazon for the second consecutive year took the Number 1 spot on Brand Keys’ 24th annual Retailer Loyalty List. In all, retailers accounted for 19% of the Top 100 brands on the list, the most of any industry segment.
Other retailers in the top 25 included The Home Depot (#8), Nike (#12), Trader Joe’s (#19), eBay (22), Whole Foods Market (#24) and Zappos (#25). (See end of article for a list of all retailers on the list).
According to Robert Passikoff, founder and president of Brand Keys, customer loyalty has protected many brands from the threat of Chapter 11 bankruptcy proceedings. He noted that loyalty guarantees customers will be six times more likely to support the brand during uncertain circumstances.
“The combination of enforced store closures, sheltering-in-place and working from home, and trends towards more casual Zoom-call dress, were a condition only brands with high levels of loyalty could survive,” he said. “Loyalty has always been a leading-indicator of positive customer behavior toward brands.” Here is a list of all the retailers in the 2020 Loyalty Leaders List… Chain Store Age