The world’s most prominent list of global branding ranking has just been released and it tells a clear story of what people are paying attention to and valuing today. Technology, motoring and more technology sit at the top rankings, while only a handful of luxury brands remain at the top and some others have been ousted out of the top 100 altogether.
The Interbrand Best Global Brands report is one of a number of informative reports in the world that assess just what makes a brand an alluring one. It defines its methodology in the following 10 factors: brand clarity, good governance, brand commitment to its proposition, responsiveness, authenticity, differentiation, relevance, consistency, consumer engagement and brand presence.
The methodology accounts for a surprising number of changes to the list, with regards to luxury brands. Hugo Boss was moved out of the top 100 while Tesla moved in, Ralph Lauren, Prada, Gucci, Cartier, Tiffany & Co. and Burberry all slipped in rankings from the previous year, while Louis Vuitton inched up and Hermès moved up in the list. Dior also made it into the top 100. This comes amidst a cautious period of spending in the luxury market ranging from advertising to brand propositions. It is worth noting, however, that there are a lot more luxury brands in the list compared with before 2010. It demonstrates their success in raising the prominence of their brand.
Most significant was the dominance of the technology market in the list. Apple, Google, Coca Cola, Microsoft and IBM were the top five last year, and this year only IBM slipped by one position while Toyota moved into fifth place. In fact, a large number of fast fashion and fast-moving product groups stood out, demonstrating a changing consumer interest while also re-examining the way we spend and acquire.