Saturday, April 2, 2011
Target Ranks #2 on Interbrand's List
While still not in the top spot, Target now ranks #2 (just behind Walmart) on Interbrand's annual "Most Valuable US Brands" list for 2010. This is impressive, as Target ranked #4 last year, so they've upped their brand value by 49% since 2009. This is what Interbrand had to say about the Bullseye:
Target’s enduring blend of style and mass discount proves that value and hip are not mutually exclusive. Although traffic and same-store sales slid this year, the company improved its financial operations and market forecasts are positive. While the shopper experience is not completely brand integrated, the new up & up private label is strongly on-brand, as is the purchase of the Smith & Hawken name. Additionally, its Archer Farms grocery brand introduced a new budget nutrition line, which should only bode well for the brand. The company will invest US $1 billion in its P-fresh food-oriented concept, renovating stores to drive frequency. Target continues to differentiate and create excitement with limited-edition soft goods from an ever-changing roster of high fashion designers.
For the full report, click here.