2024 FutureBrand Index reflects on past decade, leading companies receive ‘future brand’ status
The 2024 FutureBrand Index has dropped, but now in its tenth year, the annual index has looked beyond year-on-year changes to take a wider view of the past decade.
The global brand perception study typically reorders PwC’s list of the Top 100 Companies by market cap based on how they’re viewed, and whether their innovation is having a tangible impact on people’s lives. It is the only report that evaluates an organisation’s performance based on brand.
The past decade has been described as a “golden era” for brands, with FutureBrand Australia chief executive, Rich Curtis, putting it down to the brand value and business benefits of being “consistently consistent”.
“These brands’ success isn’t a stroke of luck,” he said.
“It’s testament to smarter strategies based on a deeper understanding of the role and value of brands at the highest levels of company leadership.”
The top 10 brands in 2014 compared to 2024 [Click to enlarge]
Key areas like Consistency and Seamlessness – two of the 18 attributes measured in the index – have seen notable growth over the past decade. The average Consistency score has grown from 25% in 2014 to 36% in 2024, while Seamlessness jumped from 22% to 34%. 2024 also features a higher focus on customer satisfaction and well-being, with Respect climbing from 22% to 34%.
The average Resource Management score also grew from 18% in 2014 to 30% in 2024, reflecting a broader customer demand for increased sustainability and responsible practice. Authenticity and Mission also climbed up over the decade, both from 27% to 37%.
On the flip side, the average Personality score dropped from 36% in 2022 to 33% in 2024, while Story and Attachment also experience modest drops, suggesting that maintaining a unique and engaging brand narrative remains challenging.
“While overall brand gains have been strong over the last decade, what’s clear is that it’s increasingly challenging to maintain a unique Personality and compelling Story,” said Victoria Berry, head of strategy at FutureBrand Australia.
“In the pursuit of Seamlessness and Consistency, some brands have lost their own distinctive voice. In the constant race to keep top-of-mind in an increasingly fast-paced world, it’s those brands that continue to evolve with Creativity and Purpose will set themselves apart in the next decade.”
Looking to specific brands now, and Apple, Disney, and Samsung have achieved ‘future brand’ status, whilst Nike has been described as “one to watch”. Boeing and Volkswagen have dropped off the charts altogether.
2024’s Top 20 brands [Click to enlarge]
Meanwhile, the loss of Boeing and Volkswagen in the list serves as a cautionary tale – brands that fail to deliver on the core values they have built their businesses on face severe reputational damage and complete loss of customer trust.
“It is insightful to reflect on how organisations have weathered the storms of the last decade: from global economic downturns to a once-in-a-lifetime pandemic,” Berry continued.
“What shines through the ups and downs is that brands thrive when they stay true to their values, even under pressure, with a clear, purpose-driven approach. On the contrary, brands that compromise on values, mission, innovation or otherwise face the risk of reputational damage.
“It’s the small, every day decisions that fail to align with your brand that gradually erode your brand and eventually leave it devalued and meaningless. The lesson for CMOs is simple: compromise your purpose, and you compromise your future.”
The study was conducted in partnership with global research company QRi.
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