'The continued growth in value of the BrandZ Top 100 brands shows that strong ones are in a much better place than they were in the global economic crisis of 2008-2009.'
MILAN — Keeping a label’s integrity is pivotal in navigating these difficult times, as outlined by the BrandZ Top 100 Most Valuable Global Brands ranking and report for 2020 issued Tuesday.
E-tail giant Amazon maintained the top spot in the ranking, valued at $415.8 billion, up 32 percent compared to 2019. China-based Alibaba also made it to the list’s top 10 spots with the sixth position and gaining one compared to 2019, with a brand value of $152.5 billion. “We see a significant improvement in brand equity now compared to 10 years ago because businesses understand the importance of investing in brand-building and are stronger and more resilient as a result. While the impact of COVID-19 has impacted every business regardless of size or geography, consistent investment in marketing can and will help carry them through a crisis,” he added.
“Increasingly, customers are engaging more of their senses to experience luxury. They want to see, touch, taste, smell, and hear luxury, which opens brand opportunities in entertainment, restaurants, hotels, transportation, and beyond,” the report reads.Signaling the ongoing relevance of innovation, technology brands such as Apple, Microsoft, and Google made up the majority of the brands in the top 10 spots.
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