According to a global report, Apple has overtaken Amazon to become the world's most valuable brand for the first time in five years.
The value of the technology giant's brand is up 87% in the past year to $ 263.4 billion, the Brand Finance Global 500 2021 Index found it. The increase was due to Apple's diversification strategy, which has seen the company expand into digital and subscription services and possibly electric cars in the future, London-based Brand Finance consulting firm for brand valuation said.
became the first US company to reach a market capitalization of $ 2 trillion in August last year. It is also expected to post its largest quarterly revenue ever and its first-ever total of over $ 100 billion when it reports earnings on Wednesday.
“As Apple reclaims the title of the world's most valuable brand on Amazon, five years since it last took first place, we witness Think Different. From Mac to iPod, iPhone, iPad, Apple Watch, subscription services, infinite and so much more, ”said Brand Finance Chief Executive David Haigh.
Amazon & # 39; s
Brand equity grew 15% to $ 254.2 billion, in a year when the e-commerce giant benefited from stay-at-home orders around the world and rising demand. The company has also innovated and expanded in recent months, with the launch of an online pharmacy and the Halo fitness tracker. Earlier this month, Amazon bought its first fleet of planes, from airlines Delta and WestJet, to expand its air cargo network. However, the company lost its top spot to Apple.
Tech giant Google
has the third highest brand equity, up 1.4% to $ 191.2 billion, while rival Microsoft
stayed in fourth place with brand value of $ 140.4 billion, up 20% and the conglomerate Samsung
retained fifth place. Retailer Walmart
jumped two places to sixth, while social media company Facebook
stayed in seventh place.
In a year dominated by COVID-19, technology and innovation have helped drive the value of the world's biggest brands, with app Uber
and the Chinese e-commerce platform Meituan
enjoy strong growth.
last year was the fastest growing global brand in terms of value, leaping 158% to $ 32 billion. Brand Finance said record sales, an increase in production and expansion into new markets have boosted the electric vehicle manufacturer's brand.
While some sectors have performed well, others have had a difficult year. Aerospace brands accounted for six of the 10 fastest-falling brands: Boeing
brand value is down 30% to $ 7.6 billion, while Marriott
fell completely out of the top 500 together with Airbnb
Read: What will happen to the airline tickets in 2021?
According to the consultancy, the value of a brand is the economic benefit it would gain if it were licensed in the open market.
The combined value of the 21 UK brands in the world's top 500 fell 11% year-on-year, making it the worst-performing country as uncertainty over Brexit and the COVID-19 pandemic hit the economy. Oil Major Royal Dutch Shell
retained its place as the UK's most valuable brand but fell 11% to $ 42.2 billion, while second-placed rival BP
fell 8% to $ 21.4 billion.
"As the introduction of vaccines progresses, it will be interesting to see which British brands are doing well and which ones will fail while navigating a future outside the European Union," Haigh said.
The index also includes brand strength, which is calculated as the effectiveness of a brand's performance compared to comparable brands.
The Chinese mobile app WeChat has replaced car manufacturer Ferrari
as the world's strongest brand. WeChat ran several government-mandated health apps to track people traveling and in quarantine and provide access to real-time data on COVID-19 and online consultations and self-diagnosis services, the index said, boosting the brand.