July 11th, 2023, Lesley Simeon
Against the background of the cost-of-living crisis and consumers shopping with savings in mind, variety retailer B&M has reported a 9.2% increase in sales at its core UK stores over the 13-week period between 26 March 2023 and 24 June 2023. Total revenues grew by 13.5%.
We look at YouGov data to see how B&M has fared across metrics like Consideration, Current Customer, Value and Recommend in recent years. According to YouGov BrandIndex, which tracks consumer sentiment towards thousands of brands daily, B&M’s Consideration and Current Customer scores have grown since 2021.
The brand’s Consideration score, which indicates how many consumers are considering purchasing from a brand, grew from 37% in 2021 to 40% in 2023.
Similarly, the retailer’s Current Customer score improved by five percentage points from 24% to 29% during the observation period.
When it comes to brand perception metrics, B&M’s Value score, which measures whether the brand represents poor or good value for customers’ money, grew from a net score of 34 in 2021 to 36 in 2023. The brand’s Recommend score, which identifies brands that consumers tell their friends and colleagues to avoid and those they recommend to them, also increased two points from a net score of 25 in 2021 to 27 in 2023.
Despite B&M’s Value and Recommend scores showing a lift of just two points, the change is statistically significant in the observation period.
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Methodology: YouGov BrandIndex collects data on thousands of brands every day. B&M’s Consideration score is based on the question: When you are in the market next to purchase goods from a retailer from which of the following would you consider purchasing? and delivered as a percentage. Its Current Customer score is based on the question: Have you purchased goods from any of the following retailers in the past three months? and delivered as a percentage. Its Value score is based on the question: Which of the following retailers do you think represents good value for money/poor value for money? and delivered as a net score between -100 and +100. Its Recommend score is based on the question: Which of the following retailers would you recommend to a friend or colleague?/Which of the following retailers would you tell a friend or colleague to avoid? and delivered as a net score between -100 and +100. Scores are based on an average daily sample size of 23439 UK adults between 2021 and 2022. Figures are based on a yearly periodicity. Learn more about BrandIndex.
Image from B&M