The 2023 Loyalty Leaders report by the firm introduces a new brand ranking that mirrors these shifts. Conducted for the 15th consecutive year, the survey evaluates 1,650 brands across 145 categories, aiming to uncover fresh strategies for cultivating and maintaining brand loyalty.
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MattelRecent research from Brand Keys, a firm specializing in loyalty and engagement, delves into the evolving landscape of customer loyalty and expectations through its annual ranking of brand loyalty leaders. The 2023 Loyalty Leaders report by the firm introduces a new brand ranking that mirrors these shifts. Conducted for the 15th consecutive year, the survey evaluates 1,650 brands across 145 categories, aiming to uncover fresh strategies for cultivating and maintaining brand loyalty.
Robert Passikoff, the founder and president of Brand Keys, emphasized the significance of loyalty as a key performance indicator (KPI), noting that it goes beyond simply gauging the likelihood of recommending a brand. In a press release, Passikoff highlighted the importance of tracking changes in loyalty rankings, as they serve as early indicators of future consumer behavior and directly impact brands’ financial performance. The findings from this year’s study underscore the profound influence of brand marketing and management on loyalty, whether positively or negatively.
The latest assessment of consumer loyalty has seen the inclusion of 12 new brands in the coveted Top 100 list, marking the largest influx of newcomers in the survey’s 15-year history, according to Passikoff. These assessments gauge consumer desires and the extent to which brands meet or exceed expectations, shedding light on the reasons behind consumer loyalty.
Among the newcomers to the top 100 are notable names such as ChatGPT (AI, ranked #49), Delta (Airlines, ranked #60), Colgate (Toothpaste, ranked #64), and Modelo Especial (Beer, ranked #71). The list also features Kia (Automotive, ranked #76), Chevrolet (Automotive, ranked #88), Hogwarts Legacy (Video Games, ranked #91), NFL (Major League Sports, ranked #94), Macy’s (Department Stores, ranked #95), Chick-fil-A (Fast Casual Food, ranked #96), Estée Lauder (Luxury Cosmetics, ranked #97), and Patagonia (Apparel Retailers, ranked #100).
Highlighting specific brand performances, Passikoff pointed out the notable boost in loyalty experienced by Mattel, climbing an impressive 46 spots from last year to #42 due to the success of the Barbie movie. Conversely, the rebranding of Twitter to X led to a significant drop in loyalty, plummeting 45 spots to #92.
Among the brands that witnessed the largest gains in loyalty rank this year are Tito’s (up 53 spots), Mattel (up 46 spots), T.J. Maxx (up 32 spots), L’Oreal (up 27 spots), and American Express and Ford (each up 19 spots). On the flip side, brands like X (down 45 spots), Spotify (down 21 spots), Old Navy (down 16 spots), Paramount+ (down 15 spots), and Whole Foods (down 13 spots) experienced declines in customer loyalty rank.
Passikoff emphasized that brands prioritizing loyalty, engagement, and meeting consumer expectations tend to perform well both in the rankings and in consumers’ shopping preferences. He underscored the importance of emotional connections in driving brand loyalty, highlighting that brands succeeding in this aspect typically outperform their competitors in the marketplace.
The analysis conducted by Brand Keys Loyalty Leaders in August 2023 involved 74,121 assessments from consumers aged 16 to 65, with respondents self-selecting categories in which they are consumers. A total of 1,650 brands across 145 categories were assessed based on consumer perceptions and experiences.
Unlike traditional economic models, archival data, or guesswork about profitability, Brand Keys’ rankings rely entirely on consumer input, predicting emotional and rational aspects of decision-making, thus correlating strongly with customer behavior, sales, and profitability.
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Source: Brands Keys
