Apple remains world’s most valuable brand
Apple has once again been crowned the world’s most valuable brand, as the tech giant continues to entice customers despite the cost of living crisis.
The American phone and tech maker is valued at $880bn (£698bn), figures from Kantar show, down from £947.1bn (£751.6bn) last year which is reflective of inflation and a tough market.
“This year’s results – despite the fall in aggregate value – are, in fact, a continuation of the long-term growth trend for brands, which began following the global financial crisis of 2008 and continued up until the start of the pandemic in 2020,” Martin Guerrieria, head of Kantar Brand Z, said.
Other tech giants, Google, Microsoft and Amazon also joined Apple in the leading ranks, coming in second, third and fourth respectively.
However, brands with a less premium price point have also proved well with consumers, with McDonald’s ranked in fifth place due to its “really strong consumer relationships”.
People really see [McDonald’s] delivering value for them,” Ellie Thorpe, director at Kantar Brand Z told City A.M .
“When the time comes that they might have to up their prices.. as we’ve seen them do over the last year consumers aren’t so affected by that because they still trust it to deliver the quality,” She added.
A challenging economic climate has led to the public spending their money more carefully, with brands such as Colgate and Pampers making a return to the top 100 due to their trustworthiness amongst consumers.
Thorpe said: ”Brands like Colgate and Pampers that consumers are relying on we’ve seen those come back in because people are trusting the brands that they know.”
Moreover, luxury brands continued to remain strong thanks to its rich clientele, with Louis Vuitton the only luxury brand in the global top 10, rising two places to number eight, with a brand value of $124.8bn (£98.4bn).
Dior is the fastest-growing brand in the category, increasing its brand value by nine per cent to $11.4bn (£9.04bn) .
Guerrieria added: “Brands need to continue investing in brand-building, product and market diversification to grow.
“This year’s results clearly show that, even in the current macroeconomic environment, it remains possible to find growth in any category and territory with the right strategy focused on establishing and maintaining strong connections with consumers.”
“Brand Z analysis proves that perceived difference is a key predictor of share growth; promoting any sense of difference and making it more known and more relevant to consumers will boost brand value in the long-term,” he added.