Woolworths named Australia’s most valuable brand
Woolworths has emerged as the most valuable brand in Australia with a 5 per cent uplift in brand value to A$11.8 billion, according to a top 100 report.
Brand Finance evaluates brands based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation.
Woolworths has climbed 4.2 points to a Brand Strength Index (BSI) score of 81.9 despite tough market conditions and gloomy economic growth forecasts.
“We are witnessing a decreasingly optimistic market, where many of the country’s biggest consumer brands are suffering. Household names, Woolworths and Coles, are bucking the trend, supported by their long-standing position in the marketplace,” said Mark Crowe managing director, Brand Finance Australia.
“Woolworths is facing a difficult year ahead after the damaging investigation into staff’s pay – how the brand responds in the coming year will be pivotal if it is to retain its title of the most valuable Australian brand.”
Coles came in fifth position, with a 0.2 per cent increase in brand value to A$7.5 billion. Brand Finance said the supermarket has been “feeling the pinch” as shoppers are more careful with their spending habits.
Supermarket brands have the highest reputation scores in Australia according to the report. Although consumers know that groceries are out to make a profit, 69 per cent see discount grocer Aldi as offering ‘great value’ and 45 per cent believe Woolworths charges fair prices.
Six wine brands made the top 100 this year with five of owned by liquor giant, Treasury Wine Estates. The highest new wine brand entrant, Lindeman’s (brand value A$774 million) came in 50th position.