Coca-Cola beats Pepsi in top brand rankings
Coca-Cola has recorded a 19% increase in brand value to US$36.2 billion, according to the latest report by Brand Finance, an independent brand valuation consultancy. The report said Coca-Cola has further widened its lead, as second-placed Pepsi experienced an 8% decrease in brand value to US$18.5 billion.
Brand Finance determines the relative strength of brands through evaluating marketing investment, stakeholder equity and business performance. According to these criteria, Coca-Cola is performing well across the food and non-alcoholic drink sectors, with a Brand Strength Index (BSI) score of 89.9 out of 100 and a corresponding AAA+ brand strength rating.
Coca-Cola has maintained its popularity over its 127-year history, with its recent success reported to be attributed to the increase in sales of Diet Coke, following a slump lasting several years, as a result of successful marketing and rebranding campaigns. Coca-Cola acquired Australian kombucha market Organic & Raw Trading Co, as the company aims to move beyond soda. The company also has launch plans for its first alcoholic and energy drinks.
David Haigh, CEO of Brand Finance, said: “The soft drinks sector is facing scrutiny like never before in the Western world.” Companies like Coca-Cola have to evolve to meet changing consumer needs, ranging from decreasing sugar content to decreasing the presence of single-use plastic in its products, in order to maintain its dominance in the sector.
According to the report, Nestlé’s brand value increased by 1% to US$19.6 billion, with China and the US its two largest markets. Capitalising on the vegan and vegetarian movement, Nestlé also bought the rights to sell its products under the Starbucks brand name, striving to meet ever-changing consumer trends. Nestlé’s portfolio has a combined brand value of US$70.5 billion, up 11% on the previous year, according to the report.
The report ranked dairy brands Danone and Yili second and third place in the food ranking respectively and top of the dairy ranking. After recording a 24% increase in brand value to US$7.7 billion, according to the report, Yili has closed the gap considerably with Danone, after Danone experienced a 10% loss in brand value to US$8.1 billion.
The report said corporate brands Kraft (down 7% to US$4.5 billion), Unilever (down 5% to US$4.2 billion) and Heinz (down 14% to US$3.3 billion) have all experienced a decline in brand values, with Unilever and Heinz removed from the top 10 in the food ranking.
The full report is available here.
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