Best Buy, Metro by T-Mobile and Powerball top Biggest Brand Movers in August 2023 (US)
Best Buy recorded the greatest number of gains month-over-month across 13 measures of brand perception in August’s edition of Biggest Brand Movers in the US.
Biggest Brand Movers is a monthly analysis highlighting the brands that make statistically significant improvements from the previous month in the brand metrics tracked by YouGov BrandIndex.
Best Buy
During July, electronics retailer Best Buy spurred some summer shopping fervor by hosting its “Black Friday in July” sale, directly competing with Amazon Prime Day. The move not only attracted consumers looking for competitive deals, but it also provided boosts in 12 out of 13 brand metrics including Consideration, Ad Awareness and Buzz.
Metro by T-Mobile
Metro by T-Mobile's surge in 12 of 13 brand metrics may be linked to its active involvement in several high-profile events. The telecommunications company sponsored the venue for the MLB All-Star Game, increasing its visibility in aligning itself with a major sporting event. Additional partnerships with concerts and gas promotions (Shell) through its T-Mobile Tuesday program likely provided value to consumers and enhanced the brand’s overall appeal.
Powerball
July witnessed a notable increase in Powerball's brand metrics, driven by the excitement generated around a billion-dollar prize. This prize, the third largest ever in Powerball history, likely drew widespread attention and engagement, contributing to the brand's positive performance during the period.
YouTube Music / YouTube Premium
YouTube Music and YouTube Premium's improvements in brand metrics could be tied to the brand's strategic adjustments. The music engine introduced a new feature called ‘Samples’ using personalized video content to help listeners discover new music and performances. YouTube Music also increased its pricing last month, coinciding with Spotify’s own price hikes, in a move to align its offerings and value with market trends.
Mega Millions
Mega Millions experienced a surge in brand metrics due to the anticipation surrounding a billion-dollar prize. With no winner since April, the excitement around the growing jackpot likely attracted increased participation and engagement from consumers.
Cartoon Network
The unionization efforts by Cartoon Network production workers might have led to increased media coverage and public attention in July. Additionally, activations like the collaboration with Roblox around Shark Week could have contributed positively to the brand’s performance.
Target
Target's improved brand metrics can be attributed to its back-to-school shopping deals, a key seasonal event that attracts a significant customer base of students and parents. This, combined with less political blowback in July compared to June helped boost the brand’s performance across 10 of 13 brand metrics.
Nissan
Nissan saw improvement in several brand metrics likely linked to its strategic investments and product launches. The investment in the Renault EV unit showcases the brand’s commitment to sustainability and the introduction of the Nissan Nismo Z likely generated interest and engagement among car enthusiasts.
Amazon Music
Amazon Music’s 4-month trial offer during Prime Day is likely contributing to boosts in media metrics such as Ad Awareness, Word of Mouth Exposure and Buzz. Partnerships with major events like Rolling Loud Miami and collaborations with artists such as Beyoncé through tour merchandise could have further contributed to the brand's improved metrics.
Pillsbury
Pillsbury's brand metrics likely saw an uptick due to its introduction of a new product – banana bread batter. The ready-to-bake product touts easy preparation and minimal clean up and joins Pillsbury’s line of ready-to-bake pie crusts, crescent rolls and cookies.
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Methodology
Data for the Biggest Brand Movers compares statistically significant score increases across all BrandIndex metrics between the current and the previous month. Brands are ranked based on the number of metrics that saw a statistically significant increase from month to month. Metrics considered are:
Media & communication metrics:
Aided Awareness – Whether or not a consumer has ever heard of a brand
Ad Awareness – Whether a consumer has seen or heard an advertisement for a brand in the past two weeks
Word of Mouth Exposure – Whether a consumer has talked about a brand with family or friends in the past two weeks
Buzz – Whether a consumer has heard anything positive or negative about a brand in the past two weeks (net score)
Brand perception metrics
Impression – Whether a consumer has a positive or negative impression of a brand
Value – Whether a consumer considers a brand to represent good or poor value for money
Reputation – Whether a consumer would be proud or embarrassed to work for a particular brand
Satisfaction – Whether a consumer is currently a satisfied or dissatisfied customer of a particular brand
Recommend – Whether a consumer would recommend a brand to a friend or colleague or not
Quality – Whether a consumer considers a brand to represent good or poor quality
Purchase funnel metrics
Consideration – If a consumer would consider a brand or not the next time they are in the market for a purchase
Purchase Intent – Whether a consumer would be most likely or unlikely to purchase a specific product