On 22 January, Brand Finance, a leading brand consultancy published the annual Global 500 ranking of the most valuable brands in the world.

Each brand has been accorded a brand rating: a benchmark study of the strength, risk and future potential of a brand relative to its competitor set as well as a Brand Value: a summary measure of the financial strength of the brand. The unprecedented events of the past year have significantly changed the ranking.

E-commerce brands thrive in new normal, with Alibaba.com doubling in brand value, but chain retailers cash in on home delivery too – Walmart climbs up to 6th rank.

As new technologies drive brand value across industries, Tesla leaves traditional auto marques behind with fastest brand value growth in ranking, up 158%.

Grounded by COVID-19 pandemic, airline and aerospace sectors account for 6 out of 10 fastest-falling brands in ranking.

Hospitality suffers from travel and dining restrictions, as Marriott and Airbnb check out from ranking and Starbucks, McDonald’s, and KFC see brand values drop.

In a year epitomised by global lockdowns, with working from home becoming the new normal and an unprecedented reliance on digital communication, retail, and entertainment, tech brands and brands successfully leveraging technological innovation have significantly boosted their brand values. Accounting for 14% of total brand value in the 2021 ranking, tech remains the most valuable sector in the Brand Finance Global 500, with 47 brands represented and a combined brand value just shy of US$1 trillion at US$998.9 billion.

Salesforce for example enjoyed a boost in brand value with 29% growth up to US$13.2 billion.