2020 presented itself from the very get go as a turbulent year, characterized by political tensions, civil protests and a pandemic still taking place, all of which exposed the defects of the social system and polarized the world population even more.
Likewise, we can notice a distinction between growing (43%) and falling (57%) brands.
On average, the world's top 100 brands grew by + 9% in 2020 and together are worth more than $2 trillions.
The year of COVID-19 has significantly accelerated digital transformation by strengthening the dominant position of technological brands: the average growth in this sector is 20%.
In fact, in the top three ranks we have Apple with a growth of 38% compared to 2019 and a turnover of 322 billion USD, followed by Amazon with a growth of 60% and 200 billion USD in turnover and Microsoft (166 billion USD - 53%).
Furthermore, the particular situation of 2020, thriving for virtual connections, welcomed three new entries belonging to the world of communication: Instagram (in 19th place), Youtube (in 30th place) and Zoom (in 100th place).
This year as well three Italian brands have been included in the ranking: Gucci in 32nd position with a turnover that dropped by 2% (15.7 billion USD) compared to the previous year, Ferrari is the 79th brand with -1% turnover (USD 6.4 billion) and Prada in 99th place and -6% turnover (USD 4.5 billion). All three brands proved to be fairly stable considering the consequences of the lockdown on the fashion and automotive sectors.
In this period of deep reflections, considerable relevance is assigned to existential issues, such as diversity, equality, inclusion and climate change. Brands that fail to keep up with these dynamic customer expectations will fail.
Interbrand Best Global Brands identifies three important factors in obtaining customer consent:
- LEADERSHIP. Companies need to be able to step back and look beyond the chaos in order to navigate the future with a defined sense of direction, alignment with their values, agility and empathy towards customer needs.
- ENGAGEMENT. The best of brands guide people and organizations in a "shared journey" and take distinctive actions that stand out above the confusion, are coherent with the direction the company wants to take, and participative in the constant interactions with customers.
- RELEVANCE. Change and turbulence have exposed many flaws in our societies and many people are reflecting on their role in these systems. Consumers are now, like never before, looking for meaning in their choices. It is therefore important for brands to be present in conversations, have affinity to customer values and to be able to instill trust in this period of uncertainty.
These values have been applied (among others) by Amazon, Microsoft, Spotify and Netflix: the brands that in the midst of global lockdowns have increased the most. They have in fact been able to focus on their values and move with agility among the obstacles posed by the pandemic, distinguishing themselves from the crowd and making themselves present and relevant in the choices of users.
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