UK retailer Tesco saw the value of its brand climb 12% in 2009, according to brand consultants Millward Brown Optimor.
The Optimor BrandZ Top100 Most Valuable Global Brands survey, published today (28 April), showed the Tesco brand valued at US$25.7bn and featuring at number 17 on the list.
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Retail giant Wal-Mart, however, saw its brand value decline 4% to $39bn, but was higher up the list at number 13.
Like Wal-Mart, Costco, the warehouse club known for low prices, declined in brand value despite being well-positioned for recession.
“At least two economic factors contributed to the decline. First, many Costco stores are located in states hardest hit by the recession. Second, the chain’s business model depends on large purchases by small businesses, which were also hurt by the recession,” the report noted.
The report also found that sales in emerging markets continued to drive growth for many of the global retail brands.
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By GlobalDataCarrefour benefited from this trend. Under new ownership, the store fascias were consolidated under the Carrefour brand in an effort to leverage Carrefour’s global strength and improve financial results. Wal-Mart also opened its first outlet in India, a joint-venture wholesale operation.
“It could have been worse. That’s not high praise, but it’s probably the best that can be said about a challenging year when brand value for the retail category decreased by only 1 percent. The outlook improved by year’s end when holiday results proved stronger than expected because retailers managed inventories and shoppers cracked open their wallets. Hard times magnified both strengths and weaknesses,” the report noted.
