Vodafone has retained its title as the UK’s most valuable brand with a valuation of £20 billion, roughly enough to buy an iPhone X for every adult resident in the country.
Vodafone now accounts for 12 per cent of the combined total of the UK’s top 50 most valuable brands, which amounts to £173.4 billion. Rival O2, which comes in at number ten on the list, has a brand value of just £4.5 billion.
Global banking group HSBC, which has launched innovative new services for customers, such as an open banking app, and employs more than 300 people in its Innovation Lab, is viewed as Britain’s second most valuable brand.
The study revealed that UK brands that are not seen as innovative by consumers are half as valuable as those that are. Worryingly, it suggests that the top ten UK brands are seen as less innovative than they were in 2006, and have subsequently grown less than a third as fast as the global top ten brands.
However, the study, which combined financial data with the opinions of more than 120,000 UK consumers, also reported that UK’s leading brands are well-known across the world, which is important given that the top 50 most valuable brands earn 54 per cent of their revenues outside of the UK. For the top ten, this figure rises to 63 per cent.
The report said: ‘Brands that are clear on what they stand for, are innovative, and know how to deliver a great brand experience are better positioned to cross geographical borders and appeal to consumers across the globe.’
The study found that the most trusted brands, which are those most likely to be recommended by consumers, include British Airways, Cadbury, the BBC and Royal Mail. These are all brands with strong heritages but moneysupermarket.com, which was founded in 1993 and is not in the top 50, is currently 22 per cent more trusted than the average brand.