Technology continues to take the lead in market research. According to the BrandZ Top 100 Most Valuable Global Brands 2017 rankings, more than half of the top brands are technology-related. This includes big names like IBM, Tencent, Facebook, Microsoft, Apple, and Google (via CNBC.)
The BrandZ platform judges the value of each brand as how integrated they are in everyday lives. Particularly, it uses interviews with global analysis to determine which names have value and determine their performance.
With Google on its throne with a 7% increase, Apple trails right behind with a smaller 3% increase. However, Microsoft has taken a boost int he last year with 18% rise in the third slot.
But what all of these might want to watch out for is Amazon’s intense rise in retail. According to the report, retail was the fastest rising category with a 14% increase and technology right behind with 13% increase. This puts Amazon at the ideal position to not only grow but take advantage of both its e-commerce and technological branches.
In fact, Amazon was the only Retail position in the top ten list, with Microsoft splitting the technology category across seven other competitors. Here are some other notes to take away from the rankings:
• Consumer-centric technology ecosystems are making brands indispensable. Consumers can increasingly carry out a variety of activities, from online shopping to watching television, under the banner of one brand and across multiple devices. This convenience for consumers also allows the most powerful brands to minimise the risk of consumer switching.
• New brands are increasingly born global, allowing them to grow rapidly. Technology allows businesses to provide their offerings globally from day one. This is fostering a new breed of entrepreneur, who is not restricted by the geographical or sector boundaries that have traditionally limited the speed and scale of growth.
• Traditional non-tech brands are adopting technology to innovate and increase consumer appeal. Fastest riser Adidas has introduced 3D printing to produce its footwear, for example, while fast food brand Domino’s Pizza offers customers a real-time tracker for their order.
• The BrandZ Top 100 is getting younger. The average age of a brand is now 67 years, compared with 84 years in 2006, reflecting the entry of the newer technology brands and the emergence of brand China.
• Brands that make it clear how they will make consumers’ lives better, such as Huawei and Toyota, have grown three times more on average over the last 12 years (the top third grew +170% compared to the bottom third which was +57%).
• Great communications puts a brand at an advantage. The top third in terms of strongest communications (including McDonald’s and L’Oréal Paris) have grown 196% in value, compared with 47% for the bottom third. This is because they have successfully amplified the difference they have built.
The 2017 rankings prove that technology brand value is on the rise, holding Google, Apple, and Microsoft at the top of its game. However, with retail’s rise on e-commerce, we could see Amazon taking advantage of the competition.Further reading: Apple, BrandZ, Google, IBM, Microsoft