Many companies are striving to increase their customer service efforts to keep consumers from turning to ecommerce, however, some brands have already developed strategies to help them retain customers. A few of the companies that made lists that tout the most valuable brands were also most successful in earning shoppers' trust, proving their strategies are inspiring customer satisfaction and loyalty.
According to an Interbrand study, the ten most valuable retail brands include Wal-Mart, Target, The Home Depot, CVS, Best Buy, Walgreens, Coach, Sam's Club, Amazon.com and eBay. The key contributing aspects are the brand performance of products and services, a brand's strength and how effectively the brand participates in customers' decision-making processes when making a purchase.
The most trusted brands are Amazon.com, Coca-Cola, FedEx, Apple, Target, Ford, Nike, Starbucks, Southwest Airlines and Nordstrom, according to Entrepreneur.
"We're seeing more of an emphasis on brands building emotional relationships with consumers because it's powerful and it works," branding consultant Jim Stengel, former global marketing officer of Procter & Gamble, told the source.
The two companies that got their names on both lists - Amazon and Target - have found a way to build relationships with their customers and follow through with promises, reports Entrepreneur. For Target, this means providing customers with low prices in an environment that doesn't feel like a discount store. For Amazon, this means consistently offering convenience and value, the source explains.