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As reflected on my personal website, my endless curiosity journey has focused on three topics: retail, technology, and leadership. The subplot spotlight to all three categories has been a passion for branding.
Lead, by Living Your Personal and Professional Branding Dream
Every year, I look forward to the latest BrandZ Top 100 Most Valuable Brands Report. In a turbulent 2017 year, “brands have continued to deliver. The Top 100 brands increased in value by 8 percent year-on-year to now be worth $3.64 trillion.”
Top 10 Brands in Apparel
The BrandZ apparel top 10 declined 7%, following a 14% rise a year ago. The breakout brand for 2017 was Adidas, whose brand value rose 58%. The total brand value for the top 10 was $105.9 billion. Over the 12 years this study has been conducted, brand value for this category increased 154%.
The five brand building action points recommended by BrandZ for apparel in 2017:
- Have a Clear Purpose – Express the brand’s contribution to the customer’s life and explain what drives the brand and distinguishes it.
- Deliver Experience – Balance offline and online, finding innovative ways to present in physical locations where the customer can experience it directly.
- See Beyond Millennials – The aging population of many countries offers brands a major opportunity to market across age groups.
- Respect Changing Values – One size does not fit all.
- Be Versatile – Offer products that can be used on multiple occasions.
Top 10 Brands in Luxury
The BrandZ luxury top 10 only rose 4% in value in 2017. This is still an improvement on 2016, when brand value for these same companies declined 5%. The top 10 had an overall brand value of $104 billion. Over the 12 years of this study, this category’s brand value increased 72%.
The five brand building action points recommended by BrandZ for luxury in 2017:
- Update Thinking – The value exchange is evolving.
- Leverage the Story – Embrace technology to express brand mythology in new ways.
- Be in the Moment – The moment is fleeting.
- Think Speed Dating – Luxury purchasing traditions imitate a courtship model of inspiring and seducing the customer.
- Stay Ageless – Remain ageless while being provocative.
Top 20 Brands in General Retail
Driven by Amazon and Alibaba, retail as a category had the highest percent increase in brand value (+14%). The top 20 had a brand value of $428.8 billion. Over the 12 year history, this category’s brand value increased 162%.
The four brand building action points recommended by BrandZ for general retail in 2017:
- Leverage the Store – The physical store is the brand’s best billboard.
- Engage Shoppers – Turn mobile behavior into an advantage.
- Be Consistent – Deliver seamless onmi-channel consistency.
- Decrease Friction – It’s not all about the commercial calendar.
Top 10 Technology Brands
“The Fearsome Five technology giants – Google, Apple, Microsoft, Amazon and Facebook – take the top places in this year’s ranking and combined are worth 25% of the total value of the Top 100.”
With 13% increase in value, technology was the second fastest growing category. Amazingly, all top 10 technology companies had a brand value increase. For the top 20, brand value was a substantial $1,244.8 billion. Over the last 12 years, the brand value of technology has risen 292%.
The five brand building action points recommended by BrandZ for technology in 2017:
- Make it Simpler – Each new generation needs to simpler than earlier versions.
- Sound Human – Talk less about the technology and more about the benefits.
- Own the conversation – None to date have set the standard as IoT captain and being its public face.
- Make Media Immersive – Move beyond feature-driven advertising and be more immersive.
- Take a Stand – When brand core values are threatened, silence can be deafening.
Live Your Branding Dream
Leadership success today requires increased focus on branding. Look no further than the North America retail industry to understand the challenges of not having a differentiated brand.
We are living in amazing digital revolution times where technology can drive continuous brand value improvements. Lead, by living your personal and professional branding dream.
For additional retail, technology, and leadership information visit www.tonydonofrio.com
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