Brand Finance, an independent brand valuation consultancy, has released its 2020 league table for Australian brands:
- Woolworths is Australia’s most valuable brand, valued at $11.8 billion
- Telstra dropped to second with its brand value falling 20% to $11.7 billion
- Banking brands nosedived. The Commonwealth Bank lost 3% of its brand value to $10.2 billion.
- BHP's brand value rose 2% to $8.4 billion and Rio Tinto was up 4% to $4.8 billion.
The ten most valuable Australian brands:
Mark Crowe, managing director, Brand Finance Australia, says many of the country’s biggest consumer brands are suffering in a decreasingly optimistic market
Woolworths and Coles are swimming aaginst the trend, supported by their long-standing position in the marketplace.
"Woolworths is facing a difficult year ahead after the damaging investigation into staff’s pay - how the brand responds in the coming year will be pivotal if it is to retain its title of the most valuable Australian brand," says Crowe.
Telstra's 20% in brand value was driven partly by the NBN rollout which has significantly affected profits, which dropped 40% in 2019.
Crowe says Telstra and other telecos are facing significant challenges to implement effective strategies to fend off rising competition from newer, alternative media and communications brands.
"The way in which we consume telecommunications has changed for good and all telecoms brands will have to adapt if they want to survive this shift in the sector," he says.
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