South Korean giant corporation Samsung Electronics has become the number five in the Best Global Brands 2020 list announced by Interbrand, a global brand consulting company, with its largest-ever brand value of $62.3 billion.
Samsung saw a 2% rise in brand value from $61.1 billion in 2019 to $62.3 billion this year. Samsung has broken into the global top five for the first time after reaching number six in the list of Best Global Brands in 2017.
The research, covering the the period between 1 July 2019 and 30 June 2020, sees Apple retaining its top spot again and was followed by Amazon as its brand value had increased by 60% to $200,667 million.
Microsoft’s increase in value ($166,001 million) helped it reach the third spot, overtaking Google as it has moved out of the top three for the first time since 2012.
A press release from Interbrand said, "the top 10 rounded out with Coca-Cola (#6, $56,894 million), Toyota (#7, $51,595 million), Mercedes-Benz (#8, $49,268 million), McDonald’s (#9, $42,816 million) and Disney (#10, $40,773 million)."
- How the top tech brands are supporting Black Lives Matter
- Covid-19 lockdown makes brands focus on new online strategies
Tech brands on top & social media platforms impress
Even as tech brands dominated the top spots, social media and communication brands have fared well in the surveyed period, with Instagram (#19), YouTube (#30) and Zoom (#100) entering the rankings for the first time.
Tesla has re-entered the rankings at #40 with a brand value of $12,785 million, having last appeared in the Best Global Brands table in 2017.
Spotify (#70), saw its brand value increase by 52% to $8,389 million – jumping 22 places in the ranking, while Netflix rose to #41 with a 41% increase to $12,665 million. "Business models have played a role in this success, with 62% of double-digit risers relying on significant subscription model businesses," the press release added.
Luxury brands drop
The Covid-19 understandably has had effect on global businesses. Brands like Zara (#35) and H&M (#37) have fallen by 13% and 14% 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%.
"Leadership, engagement and relevance are three consistent themes we are seeing as brands try to navigate the rapidly changing business landscape," said Charles Trevail, Global CEO, Interbrand. "They are the keys to unlock results in the current crisis, building customer confidence and business resilience. By setting out powerful ambitions and pursuing them with courage and conscience, brands can help us lift our heads, make sense of chaos, and see beyond it, championing a new decade of possibility."