· Telstra maintains its title as Australia’s most valuable brand
· CBA reclaims title as most valuable Australian bank and most powerful Australian brand
· Woolworths, BHP and Westpac experience sharp declines
· Coles climbs two places, its brand value up 21%
Australia’s top 100
Telstra has retained the number one ranking as Australia’s most valuable brand. Brand Finance Australia Managing Director, Mark Crowe, comments, “It is testimony to Telstra’s brand strength that despite a decline of 18% in enterprise value, Telstra’s brand value has only decreased by 2%.”
“Telstra’s business performance has had a positive impact on brand value. Reported revenue increased 2%, while the expected cumulative annual growth rate has also improved from 3.7% in 2016 to 4.2% this year. Customer brand equity fell slightly over the last year, with scores on individual metrics such as Consideration, Satisfaction and Recommendation falling marginally.”
Telstra is ranked 125th in the Global 500.
In comparison Optus was the 9th ranked Australian brand, recording a 12% decline in brand value.
Mark Crowe continues, “Optus’ business performance worsened over the course of last year, with Optus’ brand value falling.”
CBA reclaims most valuable Australian banking brand
The ongoing strength of the Australian banking sector is highlighted by Australian banks occupying 2nd to 4th places. CBA, ANZ and nab have enjoyed healthy increases in brand value. Mark Crowe comments, “A 9% increase in brand value has helped CBA reclaim its position as Australia’s most valuable banking brand.”
CBA and Qantas remain Australia’s most powerful brands with brand ratings of AAA-.
Woolworths drops to #5 ranking
After a stellar run from 2009 to 2015, Woolworths has slipped from ranking second in 2016 to being the 5th ranked brand after experiencing a 21% decrease in brand value. Woolworths from 2009 to 2015 was Australia’s most valuable brand. Mark Crowe comments, “Falling profits and a significant decline in brand strength, along with intense competition, will continue to put pressure on Woolworths brand value, unless in particular an improvement in customer metrics can be achieved.”
Conversely Coles has climbed two places to number six through a 21% increase in brand value. “Coles is now poised to pass Woolworths as Australia’s most valuable retail brand,” said Mark Crowe.