The top brands around the world remain unaffected by the global pandemic. A recent 2020 report by The BrandZ on Top 100 Most Valuable Global Brands reveals that despite the crisis caused by the COVID-19 pandemic global brand have achieved a 5.9% increase to reach $5 trillion in their brand values.
The rankings were published by the global advertising company WPP and its data management division, Kantar.
“The top 100 most valuable brands have shown they are more resilient and less volatile in the current crisis than they were during the global economic crisis of 2008-09”, WPP responded which considered the company’s stock performance among other data to compile the rankings.
On his account, Ivan Moroke, Kantar SA CEO, Insights division states that “Brand building, at the core of BrandZ, continues making sense and cents as a business investment, and it is phenomenal to see growth in spite of the economic ravages of Covid-19. A global perspective for marketers is critical, as sometimes we can be too locally introspective, forgetting that our consumers are informed, involved and inspired by global brands”
Amazon, Apple and Microsoft secured the first three positions with technology companies dominating the list. 9 out of the top 10 brands are technology-related along with a third of the top 100 companies, stressing its importance along with innovation and creativity. Technology brands have also been recording a steady 10% overall growth annually.
“Companies like Amazon, Apple and Google – the tech giants that keep on innovating – have successfully stayed relevant to consumers and made it easier for them to choose a brand”, emphasized the report.
With an increase of 32% year-on-year growth reaching $415.9 billion, Amazon maintained its position at the top of the list. Apple reaching $352.2 billion at a 14% growth rate followed Amazon. Microsoft with $326.5 billion took over third place from Google.
“Microsoft’s brand value grew as a result of its cloud-enabled workplace ecosystem that incorporates Office 365 and Microsoft Teams, which allowed people to maintain business as usual during the lockdown”, stated WPP.
Alibaba and Tencent were among 17 Asian brands that grabbed positions among the top 100 constituting a quarter of the list.
Remarkable growth was showcased by the retail sector with a 21% increase in brand value. “Retail e-commerce brands Amazon, Alibaba and JD demonstrated innovation during the difficult times, along with more traditional retailers like Walmart, which has invested extensively in its e-commerce capabilities”, the report asserted.
“Against a backdrop of uncertainty, those companies that have consistently invested in longer-term marketing and in building strong brands have managed to stave off the worst of the crisis”, the report added.
The other brands among the top 10 were Visa, Alibaba, Tencent, Facebook, McDonald’s and Mastercard. There 5 new entrants with MasterCard, Tik Tok, United Healthcare, Bank of China, Pepsi and Lancôme finding spots on the list.
Even though an earlier projection suggested that the Brand values of the top 100 brands were expected to touch 9% this year, but the outbreak of the pandemic led to its drop to 5.9%.