Customer experience expert gives her take on how it all went wrong for the once-powerful global company that lost its brand values.
SA's digital-first brands dominate Valuable Brands list
By our News Team | 2021
Banking giant FNB is South Africa’s most valuable brand for second successive year, according to Kantar BrandZ.
First National Bank (FNB) retains top position with brand value of US$2.7bn
Takealot enters the ranking at No.23 with a brand value of US$446m
Against a backdrop of global and local crises, South African brands have proven remarkably resilient in 2021 and are well on the road to recovery, reflected in the cumulative value of the 2021 Kantar BrandZ Most Valuable South African Brands ranking, which this year stands at US$28.8bn.
According to Kantar, it highlights the power of brand resilience in the face of macroeconomic turbulence and pandemic effects and we are starting to see a reversing of the long-term trend of steep erosion of brand value in South Africa.
FNB is SA’s most valuable brand for the second year running with a brand value of US$2.7bn. Vodacom moved up the ranking to No.2 with a brand value of US$2.57bn, while Castle beer held steady at No.3 with a brand value of US$2.52bn.
Emerging ecommerce giant Takealot is this year’s only new entrant at No.23 with a brand value of US$446m.
The rapid adoption of ecommerce during the pandemic saw brands accelerate towards digitisation. Responding quickly and decisively to the pandemic, the fastest rising brand was health and insurance giant Discovery at No.7, with a brand value of US$1.38bn. This is a 26.6% increase in brand value.
Trends and highlights in this year’s Kantar BrandZ Most Valuable South African Brands study include:
- FNB’s performance as top brand is based on a strong focus on digital innovation pre-pandemic and strong consumer understanding.
- The ranking of this year’s only new entrant, Takealot, was due to its accelerated digitisation and rapid advance of ecommerce during the pandemic.
- Discovery was this year’s biggest improver, with a 26.6% increase in brand value.
- Discovery, Capitec Bank and Absa bank bucked a declining trend in financial services with a 26.6%, 10.4% and 3.2% growth in brand value respectively.
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