As TK Maxx rolls out a new advertising campaign, now is a good time to use YouGov BrandIndex data to assess how the brand has been doing in recent months.
The campaign’s strapline is ‘Why would anyone shop at TK Maxx?’ – perhaps a tongue in cheek reference to one of the more disparaging comments aimed at the retailer. The advert highlights the variety of products and brands that shoppers can find in-store, underlining that while not everything the shop sells will appeal, it is a brand that can offer consumers the occasional gem.
The early signs for the campaign are good. TK Maxx’s Ad Awareness score (whether you’ve seen an advert for a brand in the past two weeks) has grown by 5 points since the advert was rolled out.
While some may be sooty about TK Maxx, it is a retailer with enduring appeal. Our brand tracking data hints at this resoluteness with its Impression score (whether a respondent has a favourable impression of a brand) among all respondents growing by 6 points since the beginning of 2015 (from +5 to +11).
Added to this, there has also been improvement in TK Maxx’s value for money score, which has improved by 5 points among all respondents during the same period (to +15). Indeed, of all fashion brands YouGov tracks for value it ranks near the top. Among its own customers, the score is even higher, at +63.
Looking specifically at TK Maxx customers, YouGov Profiles data tells us that they are more likely than the population at large to keep up-to-date with current fashion trends (46% vs 29%), spend a lot on clothes (32% vs. 17%), and also believe that well-known brands are usually better than a shop’s own (54% vs. 38%). Finally, they are also more inclined to say that while they may have a favourite brand, if another is on offer at a good price they’ll buy that instead.
Of course, the pressures that exist on every high-street retailer are also pressing TK Maxx. This is shown by the fall in shares of the brand’s parent company – TJX – following a disappointing quarterly sales announcement. However, TK Maxx bosses can remain optimistic that the company continues to appeal to its customers, who are still being drawn in by the possibility of finding good quality brands at a good price.
Image iStock
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