Woolworths most valuable brand in Australia, retail surges during COVID
January 27, 2021 1:39
Retail has overtaken banking to become Australia’s most valuable sector in terms of brand value, holding 25% of the total brand value calculated in Brand Finance Australia’s 100 ranking for 2021.
The growth in the sector was led by Australia’s most valuable brand for the second year running; Woolworths, and close competitor Coles.
The two supermarket giants grew brand value by 6% to A$12.6 billion and 4% to $7.9 billion respectively, each performing strongly in a year where many other industries were hit hard by the coronavirus pandemic.
Of the 17 retail brands in the Brand Finance Australia 100 2021 ranking, 11 remained steady or recorded growth in value. Others to grow are Reece Australia (up 14% to $901 million), Target (up 18% to $667 million), and Priceline (up 16% to US$350 million).