“Consumers are turning their backs on traditional household favourites and lower end products and embracing luxury lifestyle and indulgent brands despite the grim economic outlook,” said Brand Finance.
Brand Finance also stated that their research shows that the latest tech gadgetry appears to be a must for today’s consumers.
“Technology lifestyle brands dominate the rankings, increasing their standings on last year’s table by 79%. 49 technology companies appear in this year’s Global 500 making it the most valuable sector by some margin,” it continued.
Lifestyle technology brand, Apple has leapfrogged Google to be named as the world’s most valuable brand, having the highest-ever valuation calculated by Brand Finance at an impressive $US70.6 billion.
“The rise to prominence of luxury and lifestyle brands in this year’s report is quite impressive. Whilst the world remains shrouded in economic misery, people are investing their hard earned cash in brands they feel they can rely on to produce quality, long lasting products,” said David Haigh, CEO of Brand Finance.
“It is also an encouraging sign for the economy to see that the overall value of the Global 500 increase by 3.3% to $US3,415 billion from last year,” concluded Haigh.
|Rank||Brand||Industry Group||Domicile||Brand Value 2012|
|1||Apple||Technology||United States||$70.6 billion|
|2||Technology||United States||$47.5 billion|
|3||Microsoft||Technology||United States||$45.8 billion|
|4||IBM||Technology||United States||$39.1 billion|
|5||Walmart||Retail||United States||$38.3 billion|
|6||Samsung||Manufacturing||South Korea||$38.2 billion|
|7||General Electric||Manufacturing||United States||$33.2 billion|
|8||Coca Cola||Beverages||United States||$31.1 billion|
|9||Vodafone||Telecoms||United Kingdom||$30.0 billion|
|10||Amazon||Technology||United States||$28.7 billion|