Woolworths is now Australia’s most valuable brand, overtaking reigning champion Telstra according to an analysis conducted by Brand Finance. The supermarket giant’s brand value increased 5 per cent to $11.8 billion.
Released today, the annual Australia 100 2020 Report found that Telstra’s brand value has dropped considerably over the past year, down 20 per cent to $11.7 billion.
When compared to brand globally this year Woolworths was ranked 235 and Telstra was ranked 240 in Brand Finance’s Global 500 2020 Report.
“We are witnessing a decreasingly optimistic market, where many of the country’s biggest consumer brands are suffering. Household names, Woolworths and Coles, are bucking the trend, supported by their long-standing position in the marketplace,” said Mark Crowe, Managing Director of Brand Finance Australia.
Established in 1996, Brand Finance Australia evaluates the relative strength of brands, based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation with the aim of “bridging the gap between marketing and finance”.
Australia’s big banks remain in the top 10 however the report stated the delayed effects of the global economic slowdown, the sector’s public scandals as well as the ongoing fall out from the Royal Commission has dragged down the Big Four’s brand value.
From the past year, Commonwealth Bank lost 3 per cent of its brand value which dropped to $10.2 billion. While ANZ had the highest percentage loss in the top 20 dropping 26 per cent or $2.3 billion to $6.8 billion.
Miners BHP and Rio Tinto are also among the top ten most valuable brands. BHP recorded a 2 per cent increase in brand value and continues to be Australasia’s most valuable B2B brand, while Rio Tinto also recorded brand value growth with an increase of 4 per cent.
This year, there are 11 new entrants in the most valuable ranking including the engineering and construction brand Downer with its brand value of $1.3 billion. In addition to Downer, six wine brands have joined the ranking with five of these owned by Treasury Wine Estates. The highest new wine brand Lindeman’s ranked 50th position with its brand value $774 million.
Construction and engineering business Worley was the fastest growing brand in Australia, up 88 per cent to $584 million.
Australia’s Top 10 Most Valuable Brands:
- Commonwealth Bank
- Rio Tinto
Optus has become number one on the top ten strongest brands list, replacing last year’s strongest brand Qantas, with a Brand Strength Index score of 86.3 out of 100 and a corresponding AAA brand strength rating.
World’s Most Valuable Brands
Amazon has become the world’s most valuable brand for the third consecutive year. It’s value now exceeds US$200 billion according to the Global 500 2020 Report.
This is an increase of 18 per cent from US$187.9 billion the previous year. Known as the world’s largest online marketplace, Amazon’s brand value is now US$60 billion more than second-placed Google and US$80 billion more than Apple’s brand value.
In the top ten global list, Microsoft placed fourth followed by Samsung. Facebook was the seventh most valuable global brand and Huawei placed tenth on the list.
Discount supermarket chains Lidl and Aldi became the fastest growing brands in retail. The luxury sports car manufacturer Ferrari has kept its Brand Strength Index (BSI) score of 94.1 out of 100 and elite AAA+ rating.
Global Top 10 Most Valuable Brands:
- Ping An