Millward Brown's annual BrandZ Top 100 Most Valuable Global Brands ranking is out. Just like last year, tech brands dominate the top positions.
Google regained the top spot from Apple, while Facebook and Amazon entered the top 10 for the first time. What's interesting, though, is what the rankings tell about the shift in consumer dynamics.
As the power of digital communication has grown, tech firms have replaced consumer goods and other sectors at the top of the listing. In a world where customers are less loyal, more demanding and have an endless pool of brands to choose from, it will be interesting to see what the top 10 will look like in ten years' time.
A common complaint from some of the world’s biggest brands these days is that they cannot convince consumers — especially younger ones — to stay loyal. Time was that once hooked, a consumer would keep buying the same familiar brand. No longer. Millennials in particular want to try different things, making them frustratingly “brand-fickle” to those selling them goods and services. What has changed over the decade, however, is the relative fortunes of different categories of brands. In 2006 — when BrandZ issued its first rankings — the top five were leaders in their respective fields. Each came from a different sector — Microsoft (technology) headed the list, followed by GE (industrial conglomerate), Coca-Cola (soft drinks), China Mobile (telecoms) and Marlboro (tobacco).