Marketing consultancy firm Interbrand has just published its 2020 Best Global Brands Report, highlighting a dominance in the tech industry as well as noting what it calls the “COVID effect” on numerous companies across different sectors.
Showing strong results this year, big tech occupies five of the top 10 spots, with Apple keeping its position on top, closely followed by Amazon. Microsoft overtook Google to take third place, with the massive search engine dropping out of the top three for the first time since 2012. Samsung came in fifth, becoming the first South Korean company to reach that milestone. The latter five of the top performers were Coca-Cola at sixth, Toyota overtaking Mercedes-Benz for seventh and title of the best global automaker, the German car manufacturer now at eighth, McDonald’s at ninth, and Disney sitting comfortably in 10th. Altogether, the top 10 brands account for roughly 50 percent of the total table value in the 2020 report.
Observing the effect the coronavirus has had on different companies, the rankings also show a particularly adverse environment for fashion retailers, with Zara, H&M and almost all luxury brands dropping lower down the list. On the flip side, the logistics and electronic payment markets saw both saw growth. Companies such as UPS, FedEx, DHL, PayPal, Visa and Mastercard all rose in rankings.
Other notable new entrants include Tesla, which is making a return to the top 100 following its last appearance in 2017, this time coming in the 40th place. Instagram, YouTube and Zoom all make onto the list for their very first times as well, positioned at 19th, 30th and 100th respectively.
For more business-related news, Snap Inc.’s shares exceed earnings expectations by 30 percent in the third quarter of 2020.