A just-released Fashion Brand Index report indicates that shoppers' interest in brands has increased sharply in recent years, and that brand strength -- more than price or even advertising -- is what's currently driving consumers to choose one item over another, reports WWD.
Over the last seven years, the percentage of consumers who cited logos, brands, and labels as key reasons for making purchases has lept from a mere three percent to a whopping 29 percent.
Amy Shea, FBI's executive vice president of global brand development, echoed these statistics with the rationale that brands that "stand for something" are the ones that consumers seek most:
In a world “overrun by commodities,” Shea added, “true brands provide meaningful differentiation, which is why so many of the fashion brands consumers feel most engaged with are luxury brands, which have built their houses on emotional meaning.”
Top labels mentioned in the report include Ralph Lauren, Armani, Calvin Klein, and Brooks Brothers, followed by brands including J. Crew, Guess, Levi's, and Banana Republic.
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