Interbrand has launched its Best Global Brands 2023 ranking report, revealing many of the world’s top 100 brands are in a state of stagnation.
The rate of growth in the overall brand value of the table slowed dramatically after last year’s significant increase, rising 5.7 percent this year compared to last year’s 16 percent increase, taking the total brand value to $3.3 trillion ($3.1 trillion in 2022).
Interbrand cites lack of growth mindset, weaker brand leadership and poor forecasting were behind the slow down.
This follows a longer-term trend in which brands operating exclusively in one sector, taking an incremental approach, have experienced slower brand value growth.
Here are some of the key highlights:
- Total table value grew by 5.7 percent this year compared to 16 percent growth in value last year
- Interbrand states lack of growth mindset, conservative brand leadership and uncertain forecasting behind the slowdown
- Companies that operate across multiple sectors continue to dominate the top of the table – making up 50 percent of the total value. Data shows a stronger focus on brand enables these companies to unlock rapid growth vs. the competition
- Airbnb (#46) fastest riser in value (+21.8 percent) despite only entering the table last year
- Apple remains the #1 brand for the 11th year in a row. It is the first brand to rise above half a trillion USD in brand value.
- Strongest performing sectors are automotive and luxury with sector value rising 9 percent and 6.5 percent respectively. BMW (#10) entered the top ten for the first time, with Porsche (#47), Hyundai (#32) and Ferrari (#70) also performing well.
- Top 10 highest brand value riser is Microsoft (+14 percent)
- Zara (#43) and Sephora (#97) are two retail stars of the table with brand value rising 10% and 15% respectively
- Nespresso is this year’s new entrant (#98)
Gonzalo Brujó, Global CEO of Interbrand, said: “After a few years of strong brand growth, we have entered a period of stagnation, with this year’s table showing moderate growth in overall brand value among the world’s biggest brands.
“Businesses which have witnessed a rise in brand value, including Airbnb (#46), LEGO (#59) and Nike (#9) have all transcended their established category norms and play a more significant and meaningful role in society and consumer’s lives.
“As we continue to navigate economic and environmental headwinds, there is a need for improved business cases and better brand management to drive future investment and sustain growth within traditional sectors and beyond. Those who can successfully leverage their brand into new consumer pools of potential will reap the rewards of strong brand growth.”
