Innovation-focused companies that fulfil fundamental human needs garner the highest brand esteem, according to the 2023 FutureBrand Index
LONDON, Sept. 20, 2023 /PRNewswire/ -- Forward-thinking companies that prioritise technological innovation around products and services essential to people's lives reigned supreme in the 2023 FutureBrand Index unveiled today. The data suggests that the future of brands hinges on their ability to avoid the 'Purpose Void' – a place where an ever more informed and enquiring public relegates organisations which fail to practise what they preach – and demonstrate genuine corporate purpose through tangible impact.
FutureBrand Index 2023
The most notable risers on the list – including Microsoft, Unilever, Nestlé and Amazon – are known for their ability to fulfil more fundamental human needs amid increasing levels of global uncertainty caused by climate change, international conflicts, inflation and the rise of AI.
"In a world where safety and security are scarce, brands must become beacons of progressive responsibility and purpose-based action. They need to act as 'trust lighthouses' that can ease people's concerns and shine a light on a better future," said FutureBrand Global Chief Strategy Officer Jon Tipple. "This is especially important as many customers, from business-to-business buyers to end consumers, want to interact with organisations that put forth products and services that can make a difference in our individual lives and the world in general".
Tech rivals Apple (No. 1) and Samsung (No. 5) share the Top 5 with business-to-business companies posing the backbone of people's everyday lives. CATL (No. 2) is enabling the future of transport with its EV batteries, while the microchips produced by TSMC (No. 4) power everything from smartphones to AI. Finally, NextEra Energy (No. 3) develops renewable energy solutions in a world teetering on the edge of a climate crisis.
"If in the past the world's top brands were those promoting well-intentioned, but softer sentiment through warm words, today we observe brands which marry corporate purpose with real, positive impact climbing up the ranking" Tipple added. "They deliver reliability at a time when trust is eroding in many areas of our society. With trust in government, media and other institutions declining, companies that practise what they preach have an opportunity to gain an increasingly meaningful role in people's lives. Our survey respondents ranked the index's top-performing companies high in areas such as having strong principles, acting ethically, having a clear sense of the future, and inspiring change for the better."
The newly released index, produced by brand-led business transformation company FutureBrand, focuses on 100 companies with the largest global market capitalisation, as determined by PwC. The index is based on research around brand perception and includes an in-depth survey of business professionals in 15 countries.