Brand Finance ranking of the most valuable brands for 2020 has just been released.
Amongst the Australian brands, Woolworths has reclaimed the top spot, overtaking Telstra, after recording a 5% uplift in brand value to AU$11.8 billion.
The study also showed that Woolworths has eclipsed many retailers and is a standout in an otherwise struggling sector. Woolworths’ brand strength is up 4.2 to a 81.9.
The only other retailer in the top 10 is Coles, the main competitor to Woolworths. Coles also increased its brand ranking to climb from 2 spots to be the 5th most valuable brand in Australia.
Despite challenging conditions for Australian banks, all of the big 4 remain in the top 10. The Commonwealth leads the pack, holding on to the thrid spot. ANZ and nab have both lost ground but are still ahead of Westpac.
Amazon tops global brand index once again
On the Brand Finance Global 500 2020, Amazon once again takes the crown as the world’s most valuable brand for the third consecutive year.
According to the Brand Finance methodology, Amazon’s brand is worth $220.8 billion. Google has swapped places with Apple and is now the 2nd most valuable brand in the world.
The global brand rankings are still dominated by US companies but China has made significant inroads this year. Six of the top 10 most valuable brands are US based. Ping An and Huawei join ICBC in the top 10 this year.
The global report also highlights worry of brand bubble bursting as tech brands face reality check. Failure to meet expectations slashes Uber’s brand value by one third, but Tesla races ahead as world’s fastest-growing brand.
Michael is Managing Partner and Strategy Director at Truly Deeply, a brand agency with 30 years’ experience in defining, strengthening and growing brands. His deep expertise is in unlocking the strategic power of your brand to create a differentiated, compelling and authentic brand proposition that will engage all your audiences. Michael has extensive experience leading multi-disciplined teams and working across Australia and the Middle East working with Australian and International organisations in various sectors.