July 7th, 2023, Lesley Simeon
Primark owner Associated British Foods has reported that the fast fashion retailer grew its sales in the third quarter by 13%. Associated British Foods has now upgraded its profit forecast for the full year owing to the sales boost, which it says was due to “higher average selling prices” and soaring inflation.
In this piece, we look at YouGov data to see how Primark fares according to various brand perceptions since January 2022.
According to YouGov BrandIndex, which tracks consumer sentiment towards thousands of brands daily, Primark’s Current Customer score grew from 17% in January 2022, to 22% in January 2023. In June this year, the score was 19%.
The brand’s Consideration score, which indicates how many consumers are considering purchasing from a brand, also grew by five percentage points from 27% in January 2022 to 32% in June 2023.
Finally, Primark’s Word of Mouth (WOM) Exposure score, which asks if consumers have talked about a brand with friends and family in the past two weeks, grew from 14% in January 2022 to a high of 21% in January 2023, before dipping slightly to 19% in June 2023.
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Methodology: YouGov BrandIndex collects data on thousands of brands every day. Primark’s Current Customer score is based on the question: Have you purchased clothing from any of the following clothing stores and brands in the past 3 months? and delivered as a percentage. Its Consideration score is based on the question: When you are in the market next to purchase clothing, from which of the following would you consider purchasing? and delivered as a percentage. Its WOM Exposure score is based on the question: Which of the following clothing stores and brands have you talked about with friends and family in the past two weeks? and delivered as a percentage. Scores are based on an average daily sample size of 5441 UK adults between January 2022 and June 2023. Figures are based on a 12-week moving average. Learn more about BrandIndex.
Photo by Jonathan Kemper on Unsplash