Apple has overtaken Amazon and Google to reclaim the title of the world’s most valuable brand for the first time since 2016, according to the latest report by Brand Finance – the world’s leading brand valuation consultancy.
According to Brand Finance, Apple has the success of its diversification strategy to thank for an impressive 87% brand value increase to US$263.4 billion and its position at the top of the Brand Finance US 500 2021 ranking.
The diversification policy has seen the brand expand into digital and subscription services, including the App Store, iCloud, Apple Podcasts, Apple Music, Apple TV, and Apple Arcade. On New Year’s Day alone, App Store customers spent US$540 million on digital goods and services.
In the past 12 months, the role and practices of Tech brands have been put even more in the spotlight – and a positive reputation cannot be taken for granted, even if a brand is providing shiny products, brilliant apps and a cool image. In this context, Apple continues to win the hearts and minds of American consumers, ranking joint-second among Tech brands for Reputation. This compares to a 6th place ranking 12 months ago. While there is a degree of reassessment in the US about Tech brands, Apple’s reputation remains solid. — Laurence Newell, Managing Director Brand Finance USA
Apple’s transformation and ability to reinvent itself time and time again is setting it apart from other hardware makers and has contributed to the brand becoming the first US company to reach a US$2 trillion market cap in August 2020.
Despite relinquishing its position at the top, second-ranked Amazon has still managed to record a healthy 15% brand value growth to US$254.2 billion. Also bucked by Apple, Google sits in third spot following a marginal 1% uplift in brand value to US$191.2 billion. Slightly behind its peers in terms of diversification, Google recorded its first ever revenue decline as a result of the pandemic. The vast majority of the brand’s revenue comes from advertising, which took a hit over the last year as marketing budgets tightened.
MacDailyNews Take: Iit’s certainly nice to see Apple reclaim its rightful position as world’s most valuable brand!