Security Magazine logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Security Magazine logo
  • NEWS
    • Security Newswire
    • Technologies & Solutions
  • MANAGEMENT
    • Leadership Management
    • Enterprise Services
    • Security Education & Training
    • Logical Security
    • Security & Business Resilience
    • Profiles in Excellence
  • PHYSICAL
    • Access Management
    • Fire & Life Safety
    • Identity Management
    • Physical Security
    • Video Surveillance
    • Case Studies (Physical)
  • CYBER
    • Cybersecurity News
    • More
  • BLOG
  • COLUMNS
    • Cyber Tactics
    • Leadership & Management
    • Security Talk
    • Career Intelligence
    • Leader to Leader
    • Cybersecurity Education & Training
  • EXCLUSIVES
    • Annual Guarding Report
    • Most Influential People in Security
    • The Security Benchmark Report
    • Top Guard and Security Officer Companies
    • Top Cybersecurity Leaders
    • Women in Security
  • SECTORS
    • Arenas / Stadiums / Leagues / Entertainment
    • Banking/Finance/Insurance
    • Construction, Real Estate, Property Management
    • Education: K-12
    • Education: University
    • Government: Federal, State and Local
    • Hospitality & Casinos
    • Hospitals & Medical Centers
    • Infrastructure:Electric,Gas & Water
    • Ports: Sea, Land, & Air
    • Retail/Restaurants/Convenience
    • Transportation/Logistics/Supply Chain/Distribution/ Warehousing
  • EVENTS
    • Industry Events
    • Webinars
    • Solutions by Sector
    • Security 500 Conference
  • MEDIA
    • Videos
      • Cybersecurity & Geopolitical Discussion
      • Ask Me Anything (AMA) Series
    • Podcasts
    • Polls
    • Photo Galleries
  • MORE
    • Call for Entries
    • Classifieds & Job Listings
    • Continuing Education
    • Newsletter
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • This Month's Content
    • Advertise
  • SIGN UP!
Security NewswireSecurity Leadership and ManagementAccess ManagementIdentity ManagementPhysical SecurityVideo SurveillanceRetail/Restaurants/Convenience

Study Shows How Millennials Breathe Life into Retail

retail3-900px.jpg
May 22, 2017

Millennials are breathing life into retail brands, according to new research from The Harris Poll. Compared to older generations, millennials award higher brand equity to all retail categories assessed, except hardware and home stores, which is favored by baby boomers. The Harris Poll’s 29th annual EquiTrend Study, which measures brand health over time, reveals the strongest brands across the media, travel, financial, automotive, entertainment, retail, restaurant, technology, household and nonprofit industries, based on consumer response.

According to the research, while brand equity in the retail category has held steady over time, a different pattern emerges when millennials are singled out versus baby boomers. Sporting goods store brand equity is 7.7 points higher among millennials compared to baby boomers, while luxury department stores (+5.6) and electronics stores (+5.7) are nearly 6 points higher. Millennials’ brand equity score for off-price retailers is 4.9 points higher compared to baby boomers, while footwear and department stores are 4 points and 3.8 points higher, respectively. Only hardware and home stores (-3.8) have lower brand equity among millennials compared to baby boomers.

“Strong brand equity – including greater familiarity with your brand, a greater bond with your brand, a better-perceived quality of your brand – translates into a larger share of wallet,” said Joan Sinopoli, vice president of brand solutions at The Harris Poll. “It’s no secret that the retail industry is undergoing tremendous challenges, but knowing how to best cater to different customer segments is critical. As a result, several retailers are working to revamp their stores into ‘millennial playgrounds’ to help woo and wow desired customers.”

The EquiTrend Brand Equity Index is comprised of three factors - Familiarity, Quality and Purchase Consideration - that result in a brand equity rating for each brand. Brands ranking highest in equity receive the Harris Poll EquiTrend “Brand of the Year” award for their respective categories. This year, more than 100,000 U.S. consumers assessed more than 4,000 brands across more than 450 categories.

Off-Price Shows Equity Growth, Other Retail Categories Show Generational Movement

According to Harris Poll’s research, off-price is the only retail category to increase its brand equity compared to last year, up 2.1 points. While luxury department stores and sporting goods stores are flat among consumers overall, we see equity growth among millennials. Generation X shows a 3-point equity increase for off-price retail and negative growth for all other retail categories. Baby boomers award positive equity to off-price retail (+1.3) and hardware and home stores (+0.4).

Luxury Doesn’t Offer Retail the Same Advantage it Provides to Auto, Hotel

Harris Poll’s analysis shows that when attached to department stores, the luxury designation doesn’t offer brands the same benefit it does in other categories, such as automotive and hotels. Consumers grant stronger equity scores to mainstream department stores brands compared to luxury department stores. Additionally, there is a less pronounced gap in perceived quality between luxury and mainstream department stores and purchase consideration favors the mainstream.

“Department stores have struggled with Gen X and millennials for some time; Gen X led the charge toward brick and mortar specialty stores and millennials followed suit, favoring online specialty shopping,” said Sinopoli. “Meanwhile mainstream retailers like Kohl’s and Target, experimenting with different formats and designer names, have forced luxury stores to play price wars. To many consumers, luxury stores have simply stopped offering a luxury difference, and that’s why we see retailers like Nordstrom actively working to bring millennials into their stores with rotating pop-up shops and personalized customer experiences, and Lord & Taylor taking steps to reposition and differentiate as the shopping destination for dresses.”

The 2017 Harris Poll EquiTrend Retail Brands of the Year

Award Category

Brand

Department Store 

Kohl’s  

Electronics Store 

Best Buy

Footwear Store

DSW (Designer Shoe Warehouse)

Hardware & Home Store

The Home Depot

Luxury Department Store

Nordstrom

Off-Price Retailer

TJ Maxx

Sporting Goods Store

Dick’s Sporting Goods 

 

Additional retail findings include:

  • Nordstrom holds on to the Luxury Department Store Brand of the Year title for the second consecutive year, but the Ivanka Trump controversy seems to have had an impact. Nordstrom's decline in brand equity among conservatives contributed to a decline in brand equity overall. Among liberal-leaning consumers, Nordstrom’s brand equity rose slightly; among conservative-leaning consumers, Nordstrom’s brand equity declined four points.
  • This year marks The Home Depot’s fifth consecutive Brand of the Year award, with familiarity as its key equity distinction. Ninety-six percent of consumers are familiar with The Home Depot. Baby boomers give the equity advantage to The Home Depot, with stronger quality and purchase consideration marks compared to younger consumers.
  • Kohl’s, Department Store Brand of the Year 2012 – 2015, reclaims its title from Macy’s. Although the retailer has lower familiarity ratings than JCPenney and Sears, it shows higher marks overall for quality and purchase consideration. Gen X consumers push Kohl’s to its higher equity score, with higher familiarity and purchase consideration ratings.
  • TJ Maxx, Off-Price Retailer Brand of the Year, and Best Buy, Electronics Store Brand of the Year, maintain their titles for the second consecutive year, and TJ Maxx receives its highest equity score ever (67). With consumers consistently seeking deals, outlets are a popular option, but Harris Poll data shows TJ Maxx besting some of the more luxury outlet options.
  • Dick’s Sporting Goods reclaims its Sporting Goods Store Brand of the Year honor from Cabela’s; Dick’s was also Brand of the Year in 2015. Dick’s equity is driven by millennials and Gen X consumers.
  • DSW is Footwear Store Brand of the Year for the fourth consecutive year, helped by stable quality and purchase consideration ratings.

http://www.theharrispoll.com/business/Millennials-Breathe-Life-Into-Retail.html

KEYWORDS: brand image retail security

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • Security's Top Cybersecurity Leaders 2024

    Security's Top Cybersecurity Leaders 2024

    Security magazine's Top Cybersecurity Leaders 2024 award...
    Top Cybersecurity Leaders
    By: Security Staff
  • cyber brain

    The intersection of cybersecurity and artificial intelligence

    Artificial intelligence (AI) is a valuable cybersecurity...
    Logical Security
    By: Pam Nigro
  • artificial intelligence AI graphic

    Assessing the pros and cons of AI for cybersecurity

    Artificial intelligence (AI) has significant implications...
    Logical Security
    By: Charles Denyer
Manage My Account
  • Security eNewsletter & Other eNews Alerts
  • eMagazine Subscriptions
  • Manage My Preferences
  • Online Registration
  • Mobile App
  • Subscription Customer Service

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Security audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Security or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Sureview screen
    Sponsored bySureView Systems

    The Evolution of Automation in the Command Center

  • Crisis Response Team
    Sponsored byEverbridge

    Automate or Fall Behind – Crisis Response at the Speed of Risk

  • Perimeter security
    Sponsored byAMAROK

    Why Property Security is the New Competitive Advantage

Popular Stories

Rendered computer with keyboard

16B Login Credentials Exposed in World’s Largest Data Breach

Verizon on phone screen

61M Records Listed for Sale Online, Allegedly Belong to Verizon

Security’s 2025 Women in Security

Security’s 2025 Women in Security

Red spiderweb

From Retail to Insurance, Scattered Spider Changes Targets

blurry multicolored text on black screen

PowerSchool Education Technology Company Announces Data Breach

2025 Security Benchmark banner

Events

July 17, 2025

Tech in the Jungle: Leveraging Surveillance, Access Control, and Technology in Unique Environments

What do zebras, school groups and high-tech surveillance have in common? They're all part of a day’s work for the security team at the Toledo Zoo.

August 7, 2025

Threats to the Energy Sector: Implications for Corporate and National Security

The energy sector has found itself in the crosshairs of virtually every bad actor on the global stage.

View All Submit An Event

Products

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

See More Products

Related Articles

  • Doorway to Cybersecurity

    Study Shows How Burglars Could Hack Smart Sprinkler to Disable Alarm

    See More
  • guard

    How Life Safety Training Turns Security Officers into First Responders

    See More
  • Security newswire default

    Study Shows How Security Impacts Employee Productivity

    See More

Related Products

See More Products
  • highriseproductphoto

    High-Rise Security and Fire Life Safety, 3rd edition

  • security culture.webp

    Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

  • school security.jpg

    School Security: How to Build and Strengthen a School Safety Program

See More Products

Events

View AllSubmit An Event
  • September 25, 2024

    How to Incorporate Security Into Your Company Culture

    ON DEMAND: From this webinar, you will learn how to promote collaboration between IT and physical security teams to streamline corporate security initiatives.
View AllSubmit An Event
×

Sign-up to receive top management & result-driven techniques in the industry.

Join over 20,000+ industry leaders who receive our premium content.

SIGN UP TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing