MUMBAI: With people confined to their homes during the Covid2019 pandemic, social media and communication brands have fared well, according to Interbrand's 2020 Best Global Brands report.
Instagram came in at #19, while YouTube (#30) and Zoom (#100) entered the rankings for the first time. On the flip side, Facebook's value fell by 12 per cent to $35.2bn – although it moved up a place to #13 in the ranking.
Amazon, Microsoft and Spotify have added the most to their brand value in the past year. The e-commerce giant ranked at #2 and increased its brand value by 60 per cent, with a valuation of nearly $201 billion.
Music streaming service Spotify (#70) saw brand value increase by 52 per cent to $8 billion, jumping 22 places in the ranking, while Netflix rose to #41 with a 41 per cent increase to $12 billion. Business models have played a role in this success, with 62 per cent of double-digit risers relying on significant subscription model businesses.
Tesla re-entered the rankings at #40 with a brand value of $12.7 billion, having last appeared in the Best Global Brands table in 2017.
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Apple retained its top spot, growing its value 38 per cent to $323 billion and becoming the first brand to surpass the $300 billion-mark. Microsoft overtook Google (#4) to reach the number three spot. This is the first time the search engine has dropped from the top three.
Meanwhile, Samsung (#5) broke into the top five for the first time ever. The remainder of the Top 10 comprises: Coca-Cola #6 ($56 billion), Toyota #7 ($51 billion), Mercedes-Benz #8 ($49 billion), McDonald’s #9 ($42 billion) and Disney #10 ($40 billion).The top ten brands accounts for 50 per cent of the total table value this year.
The 2020 Best Global Brands ranking also saw the ‘Covid effect’, with global shop closures causing the brand values of Zara (#35) and H&M (#37) to fall 13 per cent and 14 per cent respectively, with both dropping at least six places in this years’ ranking. After two years as the top growing sector, luxury brands took a hit in 2020, with all but one brand value (Hermes #28) falling between 1-9 per cent.
Other brands and industries have benefited from the ‘Covid effect’, notably logistics which saw an average of 5 per cent growth – UPS (#24), FedEx (#75) and DHL (#81) all saw positive brand valuation growth, as the logistics sector became more central to our lives in lockdown. PayPal (#60), Visa (#45) and Mastercard (#57) have also risen in the rankings – 12, 10 and 5 places respectively. The pandemic led to a sudden shift to electronic as the primary payment method and the swift roll out of programs to support local business during lockdown benefitted these brands, who provide access to capital in times of economic uncertainty.
“Reports like Interbrand’s Best Global Brands are important for companies to better understand how we're being perceived in consumers’ hearts and minds,” said Mastercard Chief Marketing and Communications Officer Raja Rajamannar. “Especially during these unprecedented times, when consumer behaviours have shifted and trust is more important than ever, these rankings are a way for us to better understand how we can best serve our communities.”
