According to Interbrand’s annual List of the World’s Best Brands, the most valuable brands in 2019 have changed significantly from 2001 due to the impact of technology, demonstrating the extent to which technology companies can expand into large brands in a short period of time, replacing some of the world’s best-known companies. In 2001, the total value of the 100 brands reported was $988 billion.
Today, it is worth $2.1 trillion, with an average compound annual growth rate of 4.4%. Over the years, the world’s tech giants have risen rapidly in the rankings and now account for a large part of the brand’s total value.
In fact, technology companies are worth nearly $700 billion in brand value, accounting for half of the world’s top 10 most valuable brands. For the seventh year in a row, Apple has won the title of the world’s most valuable brand. Google and Amazon are in the next place.
In the 2001 rankings, only 31 brands remained the same in this year’s list of the world’s best brands, including Disney, Nike and Gucci. Coca-Cola and Microsoft are among the few companies that remain in the top 10.
Facebook dropped to 14th place. The tech giant has been dogged by controversy over data privacy over the past year.
In addition, a growing number of traditional brands, most notably in luxury and retail, are looking to adapt to the needs of young consumers as “tech models”. And in the process, some have actually become technology companies. Gucci, for example, is focusing on e-commerce and social media to appeal to Gen Z consumers, and Wal-Mart recently announced that it is using virtual reality helmets and machine learning-driven robots to try to compete with Amazon.