Amazon bumps Microsoft from third place while Google and Amazon keep their positions at the top.
According to the latest BrandZ report of the world’s top 100 brands, those using technology to make people’s lives easier are winning in 2018. Technology and tech-related companies accounted for a staggering 92% of the overall ranking of top brands.
Tech giants Google and Apple lead the way, with both breaking the $300bn brand value threshold for the first time. Google took first place with a brand value of $302bn, following their 23% rise while Apple is just behind with a value of $301bn after their 28% rise.
However, close behind them is Amazon on one of the fastest growths the report has ever seen. After increasing their value by 49% to $208bn this year, they bump Microsoft (which grew 40% to $201bn) into fourth place.
Peter Walshe, global strategy director for BrandZ, ““Brands are increasingly concentrating on being able to meet consumer needs in interesting ways that gives them a superior advantage over their competitors – particularly when it comes to making people’s lives better and easier with technology.”
But some of the fastest-rising brands this year have come from China. Tencent, for example grew by 65% to $179bn, securing a place in the top five for the first time. In context, the speed at which brands need to grow to reach the top 20 has doubled to 40% over the last year. Over the past 12 years, China’s overall brand value has grown by a huge 1,444%. In comparison, the UK has grown by just 26%, the US by 239% and Europe by 37%.
It’s not been the best year for UK brands as only four make it into the top 100. Vodafone is the most valuable UK brand (37th in the global rankings) despite a 9% decline in value over the past 12 months. HSBC has grown by 15% but despite this drops down two spots to 50th. Shell also dropped to 63rd despite a growth of 10%. BT narrowly makes it in at 94th, following a 15% decline.
Walshe says that HSBC and Shell have done well compared to other UK brands because they are innovating with how they connect with customers. For example, Shell now has more retail outlets than Starbucks and Subway, after realising they cannot pin their future on fuel.