El Corte Inglés raises brand value
What: according to the Brand Finance Retail report, El Corte Inglés has increased its brand value by 11.7% and now ranks 31 out of the 100 best brands worldwide
Why is it important: actions such as redesigning its distribution network across Spain and reinventing itself show the group’s ambition to compete with Amazon and how it reached the top
The report highlights how El Corte Inglés converted 90 of its shops throughout Spain into online logistics centres, and how it managed to promote its in-store collections through services such as "Click&Collect" and "Click&Car", which is a couple of main reasons for the significant brand value growth. During the crisis, the department store chain also quickly responded to the rise of online orders by implementing ship-from-store order fulfilment processes, and it managed to reserve in-store slots for at-risk and elderly shoppers.
Mercadona and El Corte Inglés are the only two Spanish firms on the world ranking of the top 100 brands while Amazon retains the title of the world's most valuable retail brand.
According to the report, the fastest growing sectors are: pharmaceuticals (36%), household products (34%), spirits (21%), technology (18%), distribution (18%) and engineering and construction (9%).