Consumer confidence in financial companies is on the rise, according to the Best Global Brands report. Eight of the eleven financial entities in the study published by Interbrand showed significant gains in popularity and value.
American Express took the top spot in the finance sector, with a 12% increase in its overall brand value from last year when it experienced 8% in growth. It ranked 23 out of the 100 companies on the list.
MasterCard, which made it into the report for the first time in 2012, also showed positive growth this year with an 8% uptick in brand value. Citi was up 5% in this brand ranking study, but was down 15% last year so it is picking up steam again. HSBC, Goldman Sachs, Allianz and Visa all showed significant gains as well, with growth in the 5% to 11% range.
Some financial companies continue to have problems though, according to Interbrand. Morgan Stanley slipped to rank 71 from 54 last year due to their slow growth rate. This year their overall brand value went down 21%.
Apple bumps Coca-Cola out of the top spot
While the finance sector has made significant gains, the overall winner in this report is tech. Apple took the number one spot away from Coca-Cola, who held it for the last 13 years. Google came in second, with Coca-Cola settling into third place. To round out the tech win, IBM came in 4th, followed by Microsoft.
Facebook, Amazon and Prada all made it into the rising star category. Three companies claimed a spot in the top 100 for the first time – Discovery, Duracell, and Chevrolet.
An opportunity for brand leaders and consumers
Overall the net worth of the 100 Best Global Brands is $1.5 trillion dollars, which is a record-breaking 8.4% increase from 2012. While CEOs and CMOs may think they are in it alone, according to Interbrand, they now sharing their leadership roles with consumers due to the popularity of social media and its effect on the market.
The Best Global Brands report has been published for the last 14 years, and evaluates companies in a wide range of industries, including finance, tech, automotive, and luxury brands. To be included in the report a brand must have a global presence and have the potential to make a profit in the future.
There must also be enough public financial information available for Interbrand to be able to fully vet the company. Privately held companies, which do not make this information public can’t be included in the study.