Airbnb’s brand value increased 22% in 2022, outpacing the rest of the field, while the Automotive sector became the biggest global driver of growth as two tech giants plummeted.
Brand growth is slowing down significantly, with the total value of the world’s top 100 brands increasing just 5.7% in 2022 compared to 16% in 2021.
This is according to Interbrand’s latest Best Global Brands 2023 Report, which cited a lack of growth mindset, weaker brand leadership and poor forecasting as catalysts for the slow down.
The data further supports recent reports of stagnating US and UK economies, indicating that predictions of a recession in the year ahead may well come to fruition.
In terms of what works for increasing brand value, companies that operate across multiple sectors continue to dominate the top 100 table, making up 50% of the total value.
Top 10 overall brands
For the 11th year in a row, Apple remains the number one brand, becoming the first to rise above half a trillion USD in brand value. Microsoft enjoyed the most growth of any top 10 brand, increasing 14%. This growth was likely driven by the brand’s investment in OpenAI’s global phenom of a large language model, ChatGPT.
Another big time grower was BMW, enjoying growth of 10% which saw it join the top 10 for the first time. The likes of Amazon, Google, Samsung, Coca-Cola and Nike were among the top of the list too.
Top 5 fastest growing brands
Airbnb (#46) was the fastest riser in brand value, improving 22% and entering the top half of the table despite only making the 100 for the first time last year. Porsche (20%), Hyundai (18%) and Ferrari (16%) also enjoyed strong growth, seeing each join the top 5 fastest growers and contribute to automotive becoming the sector rising in value the most at 9%.
Interestingly, despite economic turbulence and consumers’ tightening purse-strings, the luxury sector saw the second-most growth (7%).
Top 5 fastest falling brands
In terms of brands which remained in the top 100 but are experiencing decline in brand value, Budweiser was the biggest faller, dipping 16% in 2023. Intel (-14%) and Phillips (-12%) from the technology sector both faltered too, with Facebook (-8%) and 3M (-7%) rounding out the top five.
Worthy of a shootout is Nespresso, finding itself at number 98 on the list, joining for the first time and being this year’s only new entrant.
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