Amazon, set to become one of the global auto industry’s (especially new entrant startups’) best customers for electric delivery vans, was, along with Spotify and Netflix, among the biggest risers in ranking amid global COVID-19 lockdowns in the 2020 Interbrands Best Global Brands Report.
Software supplier and integrator Microsoft overtook Android Auto supplier and Waymo autonomous vehicle developer Google to enter the top three.
New entrants for 2020 included the remote working virtual meeting platform Zoom (#100) while Tesla (#40) was listed among ‘re-entrants’.
‘Tech’, much of it used in the latest vehicles, dominated the top 10, with a top three of CarPlay provider Apple (#1), Amazon (#2) and Microsoft (#3).
Amazon saw the largest increase in value while technology was the fastest growing sector as retail struggled amid the global pandemic.
Interbrands said in a statement: “As expected, social media and communication brands have fared well in the past 12 months…
“Tesla has re-entered the rankings at #40 with a brand value of US$12,785m, having last appeared in the Best Global Brands table in 2017.”
Music app Spotify (#70), now a staple of many smartphone and vehicle Apple CarPlay/Android Auto infotainment home screens, saw its brand value increase by 52% to US$8,389m – jumping 22 places in the ranking.
“Business models have played a role in this success, with 62% of double digit risers relying on significant subscription model businesses,” Interbrands noted.
Amazon ranked #2 and increased brand value by 60%, with a valuation of US$200,667m. While Apple retained top spot, Microsoft’s (#3) increase in value this year (US$166,001m) saw it overtake Google (#4). Google was out of the top three for the first time since 2012.
Also in the Top 10 brands: Toyota (#7; US$51,595m) and Daimler’s Mercedes-Benz (#8; US$49,268m).
Interbrands said the overall value of the rankings table increased to US$2,336,491m this year (up 9% from 2019).
“Driving growth of the table is big tech. Average brand value growth among all growing brands was 14%. Average growth of technology and tech platform brands was 20%. Technology and tech platform brands now represent 48% of total table value versus only 17% in 2010. The top 3 brands in the table (all tech) represent 30% of the value of the entire table versus only 16% in 2010.
“Tesla’s brand – its flag in the future – has driven demand and advocacy from its inception. Not only that, it has also built enormous liquidity by attracting and retaining a loyal following of retail investors.”
“Leadership, engagement and relevance are three consistent themes we are seeing as brands try to navigate the rapidly changing business landscape,” said Interbrand CEO Charles Trevail.
“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.”