Woolworths and Coles are among the 2019 Brandz Top 40 Most Valuable Australian Brands. Their brand values have, however, declined.
Conducted by WPP and Kantar, the annual report ranks Woolworths in fifth place. The retailer’s brand value is US$7.0 billion ($10.4 billion), down one per cent versus 2018.
Coles, according to the report, is Australia’s seventh most valuable company with a brand value of US$4,694 million. This is down 10 per cent versus 2018.
Woolworths and Coles were also listed as two of the most trusted brands in the Brandz Top 40 2019. In addition, both grocery retailers appear in the top 10 for all aspects of brand health.
The importance of a strong brand
The research from Brandz, says Kantar Australia Executive Director Brand Ryan France, highlights the importance of a strong brand as one of the key building blocks of resilient businesses.
“Overall, Australia’s biggest brands have dropped five per cent to US$96.8 billion led by the telco sector witnessing an 18 per cent fall as major players struggled with reduced margins; however, there are eight new entrants to the ranking in 2019,” he said.
“This demonstrates that no one can be complacent.
“Companies that don’t invest in developing a strong brand can easily be replaced by those that are more effective in meeting consumer needs.”
Other noteworthy brands
BWS comes in at 25th place, with a brand value of US$726 million ($1.1 billion) down two per cent from 2018.
BWS is followed by Foster’s at number 26. The alcohol brand has a value of US$706 million ($1.0 billion), down six per cent from 2018.
Victoria Bitter is ranked 31st with a brand value of US$516 million ($763.0 million), down five per cent from 2018.
Ranked at number 37 is Carlton Dry. The brand has a value of US$412 million ($609.2 million), up one per cent from 2018.
Closing the list is Arnott’s at number 39 (valued US$341 million [$504.2 million], which is up eight
per cent from 2018), and Bundaberg at number 40 (valued US$336 million [$496.9 million], which is down one per cent from 2018.
Read the full 2019 Brandz Top 40 Most Valuable Australian Brands report here.