Facebook Declines while Instagram and Microsoft Grow in terms of Brand Value, BrandZ Report Reveals!

Even though the ongoing pandemic has negatively impacted several businesses across the globe, it’s interesting to note that leading digital retail industries and tech companies are enjoying considerable success.

Based on the findings of Bloomberg and Kantar, BrandZ came out with a brand report recently. The said report is based on 3.8 million consumer interviews and financial information from 17,801 brands across 51 markets.

Shedding light on the top 20 tech brands from the aforementioned report, it was found out that Microsoft has progressed the most in regards to brand value (financial value x brand contribution), showing an improvement of 30%. Also, Instagram recorded a growth of 47%, while LinkedIn and Adobe grew by 31% and 29% respectively.

If you look at the report from the nations’ perspective, it could be seen that US brands have the most presence in the top 20 (14). Most of the remaining six slots are occupied by Chinese brands. For what it’s worth, Tencent recorded a brand value growth of 15% in a year.

To say that industries such as Microsoft, Apple, Google, Facebook, and Tencent are bathing in money would be an understatement. These brands have a firm grip on their customers’ needs and have proven to be quite the support for them as well during dark times like these.

IBM, Facebook, and Baidu, despite brining in impressive revenue during the pandemic, declined in brand value over a year by 3%, 7%, and a whopping 29% respectively.

But in general, digital applications have been performing pretty well during the COVID-19 era. Apps dedicated to delivery, entertainment, social networking, and shopping are being used at impressive rates.

When you sort the leading brands by Category, it can be seen that consumers’ interest in social media and e-commerce has increased significantly. Surprisingly, brands dedicated to beer and fast food declined in brand value despite being in demand.

Out of the 14 brand categories that were a part of the study in question, barely six managed to document a rise in value but not by much (around 5%). Moreover, six e-commerce and six tech brands dominated the list of top risers.

Apparel and personal care categories also went up in value, thanks to their dependence on tech for pick up and delivery purposes.

While insurance, tech, and retail categories topped the chart, bank and energy brands suffered major blows.

In the end, what’s noteworthy is that despite the economic inconveniences caused by COVID-19, the top 100 brands (as per BrandZ) recorded a 6% boost in value, down only 1% from the prior year.

Any brand that wishes to stabilize its success in these unpredictable times has to convince its consumers that it is capable of alleviating the impact of hurdles brought forth by this cursed year.

Via: VC.

Read next: ACSI E-Business Report 2019-2020: Consumer Satisfaction with Social Media Falls 2.8 Percent
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