Apple makes its way back up to number 1 in 500 most valuable brands
Five years since it last held the top spot, Apple has overtaken Amazon and Google to reclaim the title of world’s most valuable brand by Brand Finance Global 500 2021 ranking, with an 87% value increase.
Focusing on diversifying by developing its growth strategies above the iPhone has seen the brand expand in digital subscription services. Its ability to reinvent itself has set it apart from other hardware makers, contributing to the brand becoming the first US company to reach a $2tn market cap in August 2020.
Overall, technologies have driven brand value across industries, with Tesla having the fasted brand value growth in raking up to 158%. Tech brands have accounted for 14% of total brand value in this year’s ranking, remaining the most valuable sector in the global 500. Software providers such as Microsoft, Salesforce and Adobe enjoyed a boost in brand value as businesses raced to transition online.
“The technology sector has an important role to play on two fronts, being a creator of economic value and, and also reshaping every industry, with digital transformation creating new business models and new economic growth,” says Abhinay Kumar, chief marketing and comms officer at Tata Consultancy, at the virtual report launch.
Another testament to the role of technology in driving brand value is that e-commece brands, like Amazon, are among those retailers that have thrived the most in the past year. Amazon recorded a 15% brand value growth, while its Chinese equivalent alibaba.com also benefitted from the unprecedented surge in demand as consumers turned online due to restrictions.
The hospitality sector, on the other hand, has taken the biggest hit from travel and dining restrictions, with Marriott and Airbnb checking out from the ranking and McDonald’s and KFC see brand value drop. The world’s most valuable hotel brand, Hilton, has seen a 30% drop in band value, and booking.com a 19% loss.
The UK is the worst performing among top 10 markets, recording a 11% decline in brand value, as Brexit uncertainty and Covid-19 cause national and global havoc on the economy. However, Shell retains its position as the most valuable uK brand and remains the world’s most valuable oil and gas brand, despite a reliance in brand value.
“Across sectors, British brands have been facing a variety of challenges presented by the ongoing Covid-19 pandemic and uncertainty surrounding Brexit. As the vaccine rollout advances in the coming year, it will be interesting to see which British brands will thrive and which will flounder while navigating a future outside the European Union,” says CEO of Brand Finance, David Haigh.
