Australia’s first-ever BrandZTM Top 40 Most Valuable Oz Brands ranking has seen finance brands lead the way, with select telecommunications providers and retailers not far behind.
The new annual study by WPP and Kantar Millward Brown tracks the performance of Australia’s most valuable brands through the world’s largest brand equity platform, using a brand valuation methodology that combines interviews with consumers and financial and business performance analysis.
The Big Four banks have all made it into the Top 5, with Commonwealth Bank of Australia taking the lead (US$16.4 billion). ANZ bank (US$11.9 billion) and Telstra (US$10.8 billion) were placed second and third respectively.
Retail was the second top performing sector (US$19.6 billion), followed by telecom providers (US$17.3 billion). Supermarket giants Woolworths and Coles came in at sixth and seventh position. Retailers had the highest number of brands represented in the BrandZ Top 40, with a total of 11 brands (including Westfield, Bunnings, BWS and Harvey Norman) across product subcategories.
“Technology is reshaping the Australian business landscape. Digital transformation, artificial intelligence and the accelerating speed of change have significantly reduced barriers for competitors like Amazon to enter and disrupt markets with greater efficiencies and reduced costs, while offering consumers access to highly desired global brands,” said David Roth of The Store, WPP.
Australia’s top 40 brands don’t have a strong presence on the world stage according to the research company. Only 13 of the ranked brands report any overseas revenue – with such contributions making up just 7 per cent of total revenue.