Supermarket chain Woolworths has topped the list of Australia’s most valuable brands for the second year in a row, following a bumper 2020.
That’s according to Brand Finance Australia, which has released its annual report on Australia’s most valuable and strongest brands.
While many businesses felt the impact of the COVID-19 pandemic last year, Woolies was able to operate in a relatively uninterrupted manner. This meant that the brand value of Woolworths also lifted six per cent during the year, making it the fastest growing brand on the list.
Similarly, Coles benefited from the events of 2020, overtaking mining business BHP to take fourth place.
While supermarket brands were benefactors of the year, banking brands did not fare as well, suffering an overall 11 per cent drop in brand value across the sector. Macquarie was the only bank in the top 10 to hold its value during the year, while Commonwealth Bank fell 11 per cent, ANZ was down five per cent, nab 20 per cent and Westpac 15 per cent.
Globally, tech giant Apple obertook both Amazon and Google to reclaim the title of the world’s most valuable brand for the first time since 2016.
This was attributed to the company’s recent diversification strategy, which has seen it move away from relying on iPhone sales and launch a range of digital and subscription stories.
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