The Love Index: What do Google and Walmart Have in Common?
The Love Index, Fjord and Accenture Interactive’s recently-released new system for measuring brand love, surveyed more than 26,000 participants to gauge their feelings on brands, services and experiences in a variety of industries.
Based on the results (based on five key dimensions: Fun, Relevant, Engaging, Social and Helpful), we have identified the 10 most-loved “top of mind” brands in the U.S., aka, the brands people named without prompting by our researchers. Every single brand from No. 1 to 9 (Apple, Microsoft, Netflix, Samsung, Sony, Google, Amazon, Fitbit and Facebook) has a digital-only platform or is in the consumer-tech sector. Makes sense, right? Devices and on-demand entertainment rule most of our lives.
That’s why we were shocked to see Walmart come in at No. 10. No other brand, regardless of sector, is successfully competing with digital giants for people’s affection and attention.
But we need to bear in mind that Walmart is more than a store in many markets around the country. It’s a focal point for the community. Going there is “literally ‘something to do,’ when you are under 21 and bored on a Friday night,” writes one young blogger.
Yet, Walmart scores slightly higher on digital shopping experiences than even in-store ones, which bodes well for the retailer’s expanded e-commerce services enabled by its acquisition of jet.com.
Retail Therapy? Not So Much
Generally speaking, though, people in the three markets we studied do not consider retail brands Fun or Social: Shoppers aren’t entertained and they don’t connect with each other while browsing for the latest fashions or tech gadgets. We found this quite surprising given that people often claim to use “retail therapy” to lift their spirits, often doing so with family and friends.
As such, we foresee that an existing brand or a disruptor will change the nature of retail by designing new services that capture imaginations and forge bonds. In doing so, they’d begin to close the gap with brands such as Netflix, beloved for Fun, and Facebook for Social.
For more results, please visit our official presentation of The Love Index deck here.