According to the Superbrands East Africa Project Director Jawad Jaffer, fast growing firms seeking to list at the local bourse are increasingly adopting strategic profile building initiatives to raise their brand value.
Speaking during an event to officially hand over to Nakumatt Holdings Managing Director Atul Shah a charter recertifying the regional retailer as an East African Superbrands 2012, Jaffer explained that Small and Medium Size enterprises (SME) have also joined the fray.
Jaffer said the creation and management of brand value is consistently emerging as a key ingredient driving business development by local firms.
While receiving the East Africa Superbrands certificate, Shah confirmed that the firm would continue raising its brand experience levels for the benefit of its customers, staff and associates even as the firms scheduled initial public offering remains on the horizon.
“Our analysis confirms that local firms including SMEs are deliberately engaging in brand value building efforts ahead of planned public listings just like their global peers,” Jaffer disclosed.
While releasing its 2nd annual global report dedicated to the retail sector, and ranking the top 50 US retail brands by brand value, as well as the top retail brands from the UK, France, Germany, Spain, and the Asia Pacific region, Interbrand noted that retail is a highly competitive marketplace.
Consumer spending is scattered due to the myriad ways of making purchases.
Manufacturers are becoming retailers, and new rivals – often in the form of both small companies and international players entering new territories – are continuing to fragment the market. In such a climate, every customer interaction becomes crucial.
“Today’s retailers have entered an era of infinite competition,” said Jez Frampton, Global Chief Executive of Interbrand. “These Best Retail Brands understand that every channel matters in the new landscape – and prove that though a multichannel approach is certainly more complex, if done strategically, it pays off.”
Brand-led companies are proving to be resilient by continuing to bolster their digital experience, while simultaneously finding new ways to reinvigorate the in-store brand experience.