Apple retains its crown as the world’s most valuable brand for the second consecutive year in the Kantar BrandZ World’s Most Valuable Brands Report 2023. The latest ranking shows the total brand value of the world’s 100 most valuable brands in 2023 is 6.9 trillion dollars.
Despite a 20% drop in the overall index compared to 2022, the brands in the Kantar BrandZ Top 100 maintain their long-term growth trajectory, with a growth of 47% compared to pre-pandemic levels (2019).
With a brand valuation of $880.455 million, Apple has demonstrated its resilience in the face of challenging market conditions.as it has justified its high prices with positive perceptions, and has found that significant, different and outgoing brands are better positioned to weather global economic upheavals. Google and Microsoft round out the top three, so technology brands are, once again, the ones with the largest presence in the Top 100 and command the largest share of brand value..
Matías Garber, country manager of Kantar Insights in Peru, indicates that “pricing power” is a powerful resource that brands must recognize and take advantage of to achieve success in the market. “Strategically setting the price of products or services is not only a matter of profitability, but also of positioning and differentiation. Those brands capable of exercising a solid and effective ‘pricing power’ will be able to not only maximize their profits, but also influence consumers’ perceptions of value and obtain a significant competitive advantage.”, he assures.
What are the 10 most valuable brands in the world, according to Kantar BrandZ 2023?
|Ranking||Brand||Country||Brand value 2023 (US$ million)||Brand value 2022 (US$ million)|
Highlights for tech companies in the report
- 16 brands increased their brand value across the Top 100. Among them, Airtel (No. 76; +24%), which achieved the highest brand value growth compared to 2022.
- 9 brands re-entered the Top 100including Sony (No. 99).
- The brands that improved their ability to justify a higher price than their competitionbased on the strength of their equity with consumers, grew twice as much, as their brand value increased 67% in the last four years.
- Sustainability remains a missed opportunity for brandsonly 2% of the world’s most valuable brands are perceived as “forward-thinking” in this area.
Tech companies that succeeded in 2023, according to the report
TikTok (No. 41) continues to be perceived as the second most disruptive brand in the Top 100, behind only Tesla (No. 25).. Elon Musk’s company is still considered a true revolutionary, reaching the number 1 position in the Automotive category, with a valuation in 2023 of 67,662 million dollars.
Outside the Top 100, Ferrari debuts in the Top 10 automotive brands with a valuation of 7,761 million dollars, thanks to increased demand and perceived value among consumers even in the face of the most challenging market conditions. Emerging brands competing in the electric vehicle sector, and likely to increase in value in the future, include Polestar, Li Auto and Genesis.