Apple overtakes Google as most valuable brand

Apple overtakes Google as most valuable brand

Top 100 Brands lists sees Chinese newcomers while Facebook and Baidu rank high among rising values. Meanwhile, although they remain cautious, consumers are certainly spending

May 10, 2011 4:16 by Precious de Leon

Overall, consumers sought quality at a good price. The desire for well-crafted and long-lasting merchandise at almost any price has ignited sales in luxury, with brands like Louis Vuitton and Hermès appreciating significantly in value. Brands in the middle received less consumer attention.

Changes in shopping behavior touched most sectors as consumers emerged from the recession more skeptical and savvy and more empowered by digital technology to search for the best prices and most trusted reviews, even on mobile devices while standing in store aisles. These developments influenced the ways brands communicated with consumers, increasing investment in social media, as “engaging” replaced “targeting” in the marketing lexicon.

With Facebook sites, YouTube videos and mobile apps, brands attempted to cultivate the long-term loyalty of “Millennials,” now in their teens and twenties. At the same time, brands worked to retain the parent generation of relatively wealthy “Boomer” customers, the oldest of whom turn 65 this year.

THE NEWCOMERS

New brands in the Top 100 list included six financial institutions and five telecom and technology brands. Almost half of the newcomers were from China.

Interestingly, the brands are also more global, including Russia’s largest bank, Sberbank, and Itaú, one of Brazil’s major banks to the list for the first time.

In addition, the increase in telecom providers in part reflects a change in the valuation method that now includes all a brand’s businesses: landlines, cable, wireless mobile and Internet.

With almost 600 million members worldwide since its formation in 2004, Facebook was the most familiar newcomer name. Scotiabank, also known as Bank of Nova Scotia, a less well-known entry, benefited from Canada’s strong housing market and increased consumer borrowing. In addition, the bank operated in 50 countries and was especially active in the fast-growing markets of Asia and Latin America.