The report identifies best-in-class retailers and manufacturers as ranked by their trading partners.
For the 27th consecutive year, a discount retail has been ranked as the top retailer by its trading partners.
Walmart claimed the No. 1 spot among retailers in Kantar’s U.S. 2023 PoweRanking report. The retailer has held the top spot every year since the report was first published in 1997. PepsiCo, Coca-Cola, P&G, Nestle and General Mills ranked as the top five suppliers for 2023.
“It is a distinguished achievement for brands to be included in the top ten,” said Jeffrey Maloy, senior VP, Kantar. “For retailers, Walmart continues to set the standard of service to their shoppers amongst the general retailer ecosystem. PepsiCo, CocaCola and P&G also continue their leadership taking the top three manufacturers/suppliers again this year.”
The PoweRanking report is an industry benchmarking report that identifies best-in-class retailers and manufacturers as ranked by their trading partners. Chosen by the industry, brands are ranked on a number of factors, from strategic metrics to business fundamentals and includes input from a number of key industry leaders.
Below are top eight retailers in the 2023 Kantar rankings.
The current climate has made value top of mind for shoppers, leading suppliers and retailers to mirror those concerns going into 2024, according to the report.
“The current value-centric focus is fueled by macroeconomic realities, such as less government assistance and the resumption of student loan payments, and has cascaded to retail realities such as inflation and ‘shrinkflation,” the report said.
With the economic uncertainties, collaboration between retailers and manufacturers/suppliers likely will focus on two distinct audiences: the cost-focused shoppers vs quality-focused shoppers. Retailers who cater to more budget-conscious shoppers are prioritizing partnering with suppliers who ensure core items are in stock and priced strategically, and who effectively communicate their price-value message to shoppers.
Conversely, retailers that position themselves as a more premium experience are turning to suppliers to maximize convenience, quality, and service. This includes activities that enable disruptive innovation and the ability to provide valuable, personalized offers, as well as relevant shopper solutions.
“The 2023 rankings reflect the value in understanding the macroeconomic realities of the consumer and adjusting strategies accordingly,” said Rohan Mazumdar, VP Kantar.