Whiplash Team, June 21st 2024
The most valuable brands in the world in 2024 and what we can learn from them
From creating a unique identity to building lasting relationships with consumers, branding plays a crucial role in the success of brands. Let’s see what we can learn from the world’s most valuable brands according to the Kantar BrandZ Global 2024 report and what lessons Spanish brands offer us.
The Kantar BrandZ Global 2024 report, based on the opinions of over 4.3 million respondents about 21,000 brands in 532 categories, shows a significant increase in the value of the world’s most important brands.
According to the report, the total value of the 100 most valuable brands in the world has increased by 20% in 2024, marking a strong shift in trend following last year’s stock market crash. Among the highlights of the new ranking, Apple remains the world’s most valuable brand for the third consecutive year and is the first to surpass one trillion dollars.
In second place is Google, with Microsoft in third, Amazon in fourth, and McDonald’s in fifth.
The results of the Kantar BrandZ report do not differ much from those presented earlier this year by Brand Finance, in which Apple regained its position as the world’s most valuable company. However, in the Brand Finance report, Microsoft was second, followed by Google, Amazon, and Samsung. McDonald’s did not even enter the Top 10.
Branding lessons from major brands
The Kantar BrandZ Global Report also provides valuable insights that can be applied to any market. The world’s most valuable brands, such as Amazon, Apple, and Google, share some common characteristics that can guide companies looking to strengthen their branding.
- Technological Innovation. Technology is a key driver of brand value. Brands that invest in technological innovation improve their products and services and optimize their internal processes and customer relationships.
- Customer experience. Providing an excellent customer experience is fundamental to building a strong brand. Companies should focus on meeting and exceeding customer expectations through positive and consistent interactions.
- Sustainability and social responsibility. Sustainability and social responsibility have become important factors for consumers. Brands that adopt sustainable practices and demonstrate their commitment to social causes tend to gain greater loyalty and respect.
Apple: the first to surpass one trillion dollars
For the third consecutive year, Apple remains the world’s most valuable brand, being the first to surpass one trillion dollars. This achievement highlights the brand’s strength in innovation, product quality, and consumer loyalty.
Branding lessons:
- Continuous innovation: Apple constantly invests in advanced technology and product design, staying at the forefront of the industry.
- Integrated ecosystem: Creating a cohesive ecosystem of products and services fosters customer loyalty and increases brand value.
- Customer experience: Apple focuses on offering a superior user experience, which reinforces customer satisfaction and loyalty.
Google and Microsoft: technological giants in the top 3
Google ranks second with a value of $753.5 billion, followed by Microsoft with $712.9 billion. Both brands have proven to be fundamental in the daily lives of millions of people around the world.
Branding lessons:
- Service diversification: Both Google and Microsoft offer a wide range of products and services, from search engines to business solutions and artificial intelligence.
- AI innovation: The enthusiasm for artificial intelligence has significantly boosted the value of these brands, underscoring the importance of adopting emerging technologies.
- Global connectivity: The ability to connect people and businesses through robust technological platforms has been key to their success.
Amazon and McDonald’s: innovation and consistency
Amazon ($576.6 billion) and McDonald’s ($221.9 billion) complete the Top 5 of the Kantar BrandZ ranking. While Amazon stands out for its innovation in e-commerce and cloud services, McDonald’s remains a model of consistency in the fast-food sector.
Branding lessons:
- Logistical innovation: Amazon has revolutionized retail through innovation in logistics and customer service.
- Adaptability: McDonald’s has adapted to food trends and sustainability demands, maintaining its global relevance.
- Expansion strategy: Both brands have aggressively expanded their global presence, ensuring continuous growth.
The Spanish scenario
The value of the Kantar BrandZ Spain 2024 ranking has reached $100.269 billion, marking the highest annual growth rate recorded in the last five years with a 12% increase.
Zara: innovation and agility
Zara, valued at $24.966 billion, continues to lead the Spanish market. The key to its success lies in its ability to quickly respond to fashion trends and bring them to consumers in record time.
Branding lessons:
- Continuous innovation: Zara continuously invests in design and technology to stay relevant.
- Operational agility: The ability to quickly respond to trends is crucial.
- Consumer focus: Understanding and anticipating consumer needs is fundamental.
Movistar and Iberdrola: connectivity and sustainability
Movistar, with a value of $13.024 billion, and Iberdrola, with $9.709 billion, complete the Top 3. Movistar stands out for its quality in connectivity services, while Iberdrola has committed to sustainability and renewable energy.
Branding lessons:
- Service quality: Movistar has invested in advanced infrastructures to offer robust connectivity.
- Sustainability: Iberdrola has built its brand around sustainability and green energy.
- Expansion strategy: International expansion and service diversification have been key for both brands.
New entries and rapid growth
Bankinter and Estrella Galicia are the new entries in the Spanish ranking, while Pull&Bear stands out as the fastest-growing brand in this edition, with a value of $1.891 billion, a 40% increase over the previous year.
Branding lessons:
- Innovative strategies: Innovation in products and services can significantly boost brand growth.
- Market adaptation: The ability to quickly adapt to market demands is essential for ongoing success.
- Customer focus: Maintaining a customer-centric focus can lead to substantial growth in brand value.
