Seattle-based coffee chain has a brand value of $38.4bn says new Brand Finance report; British pub chain Wetherspoons is the only bar or pub brand in the listing.
Coffee chain Starbucks has retained the top spot as the world’s most valuable restaurant brand for the fifth consecutive year.
According to the Brand Finance Restaurants 25 2021 ranking, the Seattle-based chain has a brand value of $38.4 billion.
The chain – which has over 30,000 stores globally, around half of which are in the US – used the COVID-19 pandemic to further differentiate itself from rivals, adapting to focus on speed and convenience in its service. Around 90% of all orders in the US in Q3 of last year were via mobile.
US chains dominate the ranking, claiming the first eight spots and 20 of the total 25.
However, more than half of the brands in this year’s Brand Finance Restaurants 25 2021 ranking declined in brand value – highlighting the serious impact of the pandemic on the restaurant industry globally. The total value of the world’s top 25 most valuable restaurant brands dropped from $162.1 billion in 2020 to $153.9 billion in 2021.
Fast food chain Jack in the Box is the fastest growing restaurant brand – surging 84% to claim 16th place and a brand value of $1.7 billion. Pizza brand Papa John’s is the highest ranked newcomer, coming in at 19th.
British pub chain Wetherspoons is the only bar or pub brand in the ranking, coming in at number 21 and maintaining its brand value of $1.0 billion.
The only other British brand in the top 25 is Costa, with the coffee chain coming in at number 15.
Meanwhile, McDonald’s has continued to reign as the world’s strongest restaurant brand, with a Brand Strength Index (BSI) score of 86.9 out of 100. Brand Finance determines the relative strength of brands through a balance scorecard of metrics evaluating marketing investment, customer familiarity, staff satisfaction and corporate reputation.
“The restaurant sector has shown remarkable adaptability in the face of unforeseen and challenging circumstances brought about by COVID-19,” commented Richard Haigh, md of Brand Finance. “The efforts to refocus on at-home dining and the investment in digital presence have inured many of the biggest brands from far more dire consequences.
“The pace of vaccine distribution – particularly across the US and the UK – means there are signs of hope yet for the restaurant sector, with many customers eager to return to socialising and dining together.”
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