Market research firm Vision Critical has served up a list of America’s top 10 most financially promising pure play brands. Under the firm's parameters, that designation means people have a strong opinion about a company and a positive take on its financial stability.
The results in Vision Critical's Brand Equity Relationship Assessment (BERA) findings put Costco, Cisco, and Movado at the top three positions. After that are Columbia, Coach, Michael Kors, LG, Amazon, EA and Adobe.
The results are based on an evaluation of some 4,000 brands across the U.S. via a survey of 20,000 americans, covering 200 categories in the week of Feb. 25 this year.
Vision Critical identifies pure-play brands as public companies deriving 80% of sales from one brand. Respondents were asked whether they would consider buying from a given brand, and if they felt the brand has a positive future. Consumer insights were then based on the percentage of respondents who have not used a given pure-play brand but would consider it, and the percentage of Americans who think the brand has a "bright future" versus their current position.
In terms of product categories -- looking at both pure-play and diversified brands -- tablet, automobile and travel booking categories lead for having the best opportunities for future success. Out of the 10 most promising brand categories, BERA found that consumers are in the beginning phases of their relationship with tablets, charities and watches/jewelry. When pure-play brands are located within categories that hold the greatest opportunities for future success and are in the new phase of the consumer-brand relationship, such as Michael Kors and Movado, they are "extremely well positioned to achieve future financial and reputational success," per the firm.
It says Cisco, Movado, Columbia, Coach, and Michael Kors should work to create an aura of “uniqueness.” “They are still in the ‘dating’ phase of the relationship with Americans and need to push to prove why they are the best brand for shoppers to consider.” Movado, for example, figured out how to leverage its design and brand stamp into line extensions and develop a closer tie to its celebrity endorsements.
Brands like LG, Amazon, and Adobe, which the firm says have already reached a “love” connection with the American public, should start targeting micro segments with “disruptive innovation” to keep the love with consumers and get new prospects.