The world’s most valuable brands have seen their total brand value increase by 5.9% despite the economic, social and personal impacts of COVID-19. The total brand value of the Top 100 global brands reached US$5 trillion, equivalent to the annual GDP of Japan. It has increased by 245% since 2006, when the total brand value first reached US$1 trillion.
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 2008-9, adding an additional US$277bn of brand value growth over the past year.
Amazon maintained its position as the world’s most valuable brand, growing 32% to US$415.9bn. Having first entered the BrandZ Global Top 100 Most Valuable Brands ranking in 2006, Amazon’s value grew by almost $100bn this year and accounts for a third of the Top 100’s total growth.
Technology brands continued to dominate the top of the ranking, representing over a third (37%) of brand value in the Top 100 and growing overall by 10%. Apple maintained its position as the second most valuable global brand (+14%, $352.2bn) while Microsoft regained the no. 3 position (+30%, $326.5bn) ahead of Google (+5%, $323.6bn) at no. 4, due to the growth of its cloud-enabled workplace ecosystem that incorporates Office365 and Microsoft Teams, allowing people to maintain ‘business as usual’ during the lockdown.
Key trends highlighted in this year’s BrandZ Global Top 100 study include:
MasterCard entered the Top 10 for the first time this year, due to strong financial performance, supported by growing brand equity especially in engaging consumers: successfully fitting into the ‘ecosystem’ of their everyday lives and gaining a close emotional connection through its purposeful positioning.
Five new entrants appear in the Top 100, led by Chinese entertainment brand TikTok, followed by UnitedHealthcare (no. 86, $15.8bn), Bank of China (no. 97, $13.7bn), Lancôme (no. 98, $13.6bn) and Pepsi (no. 99, $13.3bn).
Building ecology has become a trend in the global business community. Haier (no. 68, $18.7bn) is the leading IoT ecosystem brand for the second year running.
US brands represented more than half of the Top 100 brands. Asian brands represented a quarter of the Top 100 brands, with 17 from China (including Alibaba and Tencent in the Top 10) and two from Japan (Toyota and NTT).
Sustainability is the new luxury – younger consumers expect the qualities associated with luxury, but with sustainable materials and less packaging. Four luxury brands made the Top 100 this year, led by Louis Vuitton (+10%, no. 19, $51.8bn).
Both the complete ranking and the report are available from the Millward Brown website.