On August 29th, people got the latest scoop regarding the top Australian brands, courtesy of BrandZ and Kantar. In the published press release were included the names of the top 10 Aussie brands, a sample of the complete 40-brand list that can be found in the full report.
To understand what’s going on in the Australian market, you should take a moment to review the BrandZ list of top brands, even if it means you have to give up on your Uptown Pokies weekly session.
The brands mentioned in the press release, which were picked from the top of the list of the 40 most prominent names on the market, are as follows:
Interestingly enough, five out of those ten names provide banking services, while three are in the retail category, and two belong to the telco group.
When you look at the full list of 40 names, it is clear that banks are the leading category this year. Banks comprised 47% of the list, while retail (19%), telecom providers (13%), energy companies (4%), and gambling (3%), were also quite prominent in the report.
It is also clear why CommBank and ANZ manage to snag the top spots on the list when you survey the brand’s values, as they are clearly ahead of the pack in this department, worth 15,933 and 10,946 million USD respectively.
What was astounding to see is the considerable gap between the first and tenth name on the list, as St. George is valued at 2,212 million USD only. That serves to show that even amongst the most valuable brands out there, companies are still struggling to succeed.
It should also be noted that most of the brands on the list showed a decrease in value since last year. In fact, every single company (except for Bunnings, which experience a remarkable 46% spike in value) had to deal with a loss of 1% to 23% of their value.
Those numbers show that even the most respectable and successful brands can’t rely solely on their reputation, as they can easily be ousted by newer brands.
Two things set the rising brands apart from the rest of the pack: innovation and experience. According to the press release, brands that put their faith in the new digital retail economy are on the rise, as they implement those two significant attributes.
Another important observation made by the experts addressed the fact that one of the main factors that influence the value of companies is the consumers' trust. Again, trust is built with the help of social media, which brings us back to innovation and the importance of the digital platform.
Together, the value of the top 40 Australian brands is an impressive 96,783 million USD, which is a 5% drop from last year. It should say something about the state of the Australian economy, but that’s an entirely different subject.
The brains behind the BrandZ list is Kantar, which specializes in marketing data and consultancy. Kantar helps companies understand what the public is looking for, and this time, focusing on brands created in Australia. The purpose of the BrandZ report is to identify what makes companies great nowadays, providing rising brands with a clear strategy on how to promote business.
The Australian market is changing, and every company and entrepreneur must keep track of said changes to stay relevant in today’s economy!