New brand ranking research from Kantar has shown that Co-op, Boots and JD Sports are the most resilient retail brands, outperforming the wider UK category which saw a combined valuation decline of 17%.
According to the latest Kantar BrandZ Most Valuable UK Brands 2023 report, the Co-op brand is now worth $1.8bn (£1.5bn), down slightly by 2% on last year, with the retailer climbing four places to number 37.
While Boots gained five places with a valuation of $1.2bn (£989m), JD Sports’ brand valuation dipped by 3% to $900m (£742m), taking it to 62nd in the ranking.
Grocery giant Tesco was the only retail brand to make the top ten this year, while Next was the only non-FMCG retailer in the top 30.
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Kantar insights UK head of brand consultants Adele Jolliffe said: “It’s been a very tough few years for retail. The accelerated shift to online has put pressure on business models, while the cost of living crisis has ignited the battle for share of wallet as consumers rein in their spending.”
“What businesses like Co-op, Boots and JD Sports do especially well is knowing what they represent for consumers and fiercely protecting that identity and reputation. At the same time, they’re flexible and creative enough to adapt to changing habits and attitudes.
“Next is a good example of a brand that has evolved in line with shopper behaviour but also stayed true to the essence of who it is and what it stands for. For example, it has maximised its store estate for click and collect orders, benefiting from last mile efficiencies while providing the seamless purchase experience its customers want and like – and for which it is widely known.”
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