According to ‘The FutureBrand Index 2024’, a global brand perception study, South Korea’s Samsung has secured the top spot in the global rankings, reflecting its strong brand perception and adaptability to market demands.
- India’s Reliance Industries Limited (RIL) ranks 2nd and made an impressive leap, 11 spots rising from 13th in 2023. This marks the first time an Indian company has made it to the top three on the list.
- Reliance, the only Indian brand on the list ranks ahead of well-known global brands like Apple, Nike, Walt Disney, Netflix, Microsoft, Intel and Toyota.
What is the FutureBrand Index?
i.The FutureBrand Index is an annual report that evaluates the top 100 global brands, based on the PricewaterhouseCoopers (PwC) Market Capitalization ranking. The report evaluates brand evolution from 2014 to 2024, shedding light on key trends shaping growth and sustainability in the marketplace.
ii.The report assesses brands across 18 key attributes, which are categorized under two primary pillars:
- Purpose: Premium, Resource Management, Indispensability, Individuality, Thought Leadership, Authenticity, Sustainability and Innovation.
- Experience: Brand Personality, Customer Attachment, Consistency, Premium Value, Trust, Engagement, Accessibility, Responsiveness, Empathy and Simplicity.
iii.Methodology: The FutureBrand Index utilizes QualiQuant® interviews with over 3,000 informed professionals who have knowledge of at least 7 companies in the PwC Top 100. These interviews assess companies based on their ability to deliver on experience and purpose, providing a nuanced understanding of brand perception.
Highlights of FutureBrand Index 2024:
Top Performing Brands in 2024:
i.Samsung ranked 1st in 2024, excels in innovation, sustainability, and premium offerings. The brand is recognized for its authenticity, thought leadership, and emotional connection with consumers.
ii.RIL, India’s largest private sector corporation, ranks 2nd with a diverse portfolio spanning energy, petrochemicals, textiles, retail, and telecommunications.
iii.Apple, the Mastering Brand Loyalty from the United States of America (USA), which was ranked No. 1 in 2023 slipped to 3rd rank. It is known for its seamless customer experiences, product consistency, and a strong brand personality
iv.Nike from the USA, ranked 4th and despite being in the top 5 brands, the brand experienced a USD 25 billion market capitalization drop due to inventory challenges and direct-to-consumer (D2C) strategy risks.
v.ASML, a Dutch company that designs and manufactures photolithography machines for the semiconductor industry ranks 5th.
vi.Other Rankings: Danaher from the USA (Ranks 6th), Disney (7th) from the USA, MOUTAI from China (8th), TSMC from Taiwan (9th) and IHC from the United Arab Emirates(UAE)(10th).
Top 5 Global Brands:
| Rank | Brand Name | Country | Sector | |
|---|---|---|---|---|
| 1 | Samsung | South Korea | Information Technology (IT) | |
| 2 | RIL | India | Energy | |
| 3 | Apple | The United States of America (USA) | IT | |
| 4 | Nike | The USA | Consumer Discretionary | |
| 5 | ASML | The Netherlands | IT | |
Key Findings of the FutureBrand Index 2024:
i.Global Brand Performance and Changes Over a Decade (2014–2024): In 2014, 7 of the top ten brands were from the USA.
- By 2024, the dominance has reduced, with four USA brands and 5 from Asia-Pacific (APAC) and the Middle East.
ii.Sector Analysis (2014–2024):
- Finance Sector: 10 out of 15 financial brands showed growth, making it the best-performing sector.
- Healthcare Sector: 10 out of 15 brands saw a decline, facing regulatory and reputation challenges.
- IT: Mixed performance- 9 brands improved, while 11 declined.
- Energy and Communication Services (ECS): Underperformance due to sustainability issues and digital competition.
- Industrial Sector: Stagnant growth, with brands like Boeing and General Electric struggling.
Major Risers and Fallers in 2024:
i.Top Gainers:
- China Construction Bank (Rank 23, moved up 147 places): Strength in financial stability and market influence.
- Agricultural Bank of China (Rank 24, moved up 84 places): Growth in business-to-business (B2B) banking and investment sector.
- Bank of America (Rank 61, moved up 27 places): Improved digital banking experience.
ii.Top Decliners:
- Shell (Rank 144, fell 83 places): Impacted by climate change and environmental concerns.
- Meta (Facebook) (Rank 57, fell 35 places): Declined due to data privacy issues and regulatory scrutiny.
- Berkshire Hathaway (Rank 106, fell 71 places): Declined due to corporate governance concerns and financial challenges.
About Reliance Industries Limited (RIL):
Chairman and Managing Director (CMD)– Mukesh Ambani
Headquarters– Mumbai, Maharashtra
Established– 1958
