In this article, we will be taking a look at the 25 most powerful brands in the US. You can also check out our article on Top 50 Companies in London.
Tech Titans Lead the Charge in Global Brand Value Growth
The global powerful brands market is dominated by technology giants, with Apple leading the pack as the world’s most valuable brand. According to the Kantar BrandZ Top 100 Most Valuable Global Brands 2023 report, the total brand value of the world’s top 100 brands stands at $6.9 trillion for 2023 which is a 20% drop from the previous year but still a 47% growth compared to pre-COVID levels in 2019. According to the Brand Finance US 500 2024 report, Apple regained its position as the most valuable brand in the US and globally, with a brand value of $516.6 billion, a staggering 74% increase from the previous year.
Microsoft and NVIDIA have also experienced significant brand value growth, driven by their investments and innovations in artificial intelligence (AI). Microsoft’s brand value rose by 78% to $340.4 billion, making it the second most valuable brand in the US and the world. NVIDIA, which is a key supplier of chips in the AI space, achieved a remarkable 163% increase in brand value to $44.5 billion, making it the fastest-growing brand in the US.
Reviving Brand Loyalty Through Exceptional Customer Experiences and Rewards
Brand loyalty has been on a decline in recent years, with only 9% of U.S. consumers considering themselves truly brand loyal, according to Nielsen research. However, iconic U.S. brands like Apple, Amazon, and Domino’s have managed to retain a loyal customer base through exceptional customer experiences and personalized offerings. Apple has consistently ranked as the brand with the most loyal customers, overtaking Amazon in 2022.
Delivering exceptional customer service is crucial for fostering brand loyalty. According to a survey by SAP Emarsys, 44% of respondents cited excellent customer experience as the reason for their loyalty to a brand in 2023, up 22% from the previous year. Brands that excel in customer service, offer discounts, incentives, and rewards, and provide diverse options for benefiting from such rewards are more likely to retain loyal customers. For instance, 52% of U.S. consumers switched brands in 2023 due to unfavorable encounters, an increase from 48% in 2022.
Consumers demand tangible rewards for their loyalty, with 50% of U.S. respondents stating that having a loyalty card or account significantly influences their spending with a brand. Additionally, 43% expect better prices as loyal customers and 46% expect exclusive offers. Brand loyalty also has a significant financial impact on businesses. The Temkin Group found that companies earning $1 billion annually can expect an additional $700 million within three years of investing in customer experience.
Also check out 20 Popular Brands That Use Shopify.
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Our Methodology
For our methodology, we have ranked the most powerful brands in the US based on their brand value as of 2024. For data accuracy, we relied on Brand Finance. The methodology for calculating brand value is a formula that is as follows:
Brand Strength (BSI) x Brand Royalty Rate x Brand Revenues = Brand Value
In general, the degree to which a brand produced money for the corporation determined its value. Brand Finance examined parent corporations and their subsidiaries, such as Meta, the owner of WhatsApp and Instagram.
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Here is our list of the 25 most powerful brands in the US.
25. UPS
Brand Value: $34.6 billion
UPS is one of the most powerful and reputable brands in the United States. The Boston College Center for Corporate Citizenship awarded The UPS Foundation its Social-Impact Changemaker Innovation Award in 2023 for its partnership with Gavi to deliver 50 million vaccines, advancing health equity. In Q1 2024, their consolidated revenue was $21.7 billion, a 5.3% decrease from Q1 2023, and Consolidated operating profit was $1.7 billion, down 31.5% compared to Q1 2023.
24. Coca-Cola
Brand Value: $35 billion
Coca-Cola is one of the most iconic brands in the US. In Q1 2024, their net revenues grew 3% to $11.3 billion, and organic revenues (non-GAAP) grew 11%. The company’s operating income declined 36% due to items impacting comparability, including charges related to acquisitions and Global unit case volume grew 1% in Q1 2024.
23. Wells Fargo
Brand Value: $35.8 billion
With over 8,050 branches and 13,000 ATMs across 35 countries, Wells Fargo serves over 70 million customers worldwide. In Q1 2024, the company’s reported net income was $4.6 billion or $1.20 per diluted share and total revenue stood at $20.86 billion. The Q1 2024 report also highlights that their noninterest income increased 17% year-over-year, offsetting an 8% decline in net interest income.
22. Chase
Brand Value: $35.8 billion
JPMorgan Chase & Co. (JPM) is one of the most powerful and influential banking brands in the United States. JPMorgan Chase boasts a formidable presence in the U.S. retail banking sector, serving 85% of the population through its extensive branch network and digital channels. The bank has pursued an aggressive growth strategy, opening around 300 new branches in high-opportunity markets since 2017, including Boston, Philadelphia, and Washington, D.C. Simultaneously, it has consolidated approximately 850 branches in mature markets, optimizing its footprint and enhancing operational efficiency. This strategic approach has contributed to a 15% increase in the number of households served by the bank since 2017. In Q1 2024, the company’s net income stood at 13.4 billion, EPS of $4.44, and revenue stood at $42.5 billion.
21. American Express
Brand Value: $36.5 billion
American Express (Amex) stands among the most powerful brands in the US with a current brand value of $36.5 billion. Amex consistently ranks at the top for customer satisfaction among national issuers. In Q1 2024, their revenues increased 11% year-over-year to $15.8 billion and Overall spending was up 7% on an FX-adjusted basis, with U.S. consumer card spending growing 8% and international card member spending increasing 13%. The report also highlights that American Express added 3.4 million new cards in the quarter, with fee-based products accounting for about 70% of new account acquisitions globally.
20. Bank of America
Brand Value: $37.3 billion
In 2023, Bank of America was named one of the World’s Most Admired Companies by Fortune. Bank of America is also recognized as the No. 1 bank for customer satisfaction and payment processing in the 2022 U.S. Merchant Services Satisfaction study by J.D. Power. Bank of America reported a net income of $6.7 billion after tax and EPS of $0.76 in Q1 2024. Their net interest income in the same quarter was $14.2 billion, $100 million higher than Q4 2023, exceeding guidance. The Q1 12024 report also highlights that the company had $197 billion in common equity Tier 1 capital, $31 billion over regulatory minimums, allowing it to support clients and return $4.4 billion to shareholders via buybacks and dividends.
19. McDonald’s
Brand Value: $38 billion
McDonalds is one of the biggest food brands in the US. In Q1 2024, their global comparable sales increased by 1.9%, marking 13 consecutive quarters of positive comparable sales growth and U.S. comparable sales increased by 2.5%. The report also highlights that systemwide sales to loyalty members across 50 loyalty markets were nearly $25 billion for the trailing twelve-month period and over $6 billion for the first quarter of 2024.
18. Deloitte
Brand Value: $41.8 billion
Deloitte has a significant global presence, with offices in over 150 countries and territories worldwide. Deloitte’s US Power, Utilities & Renewables practice brings more than 170 years of industry experience, providing advisory, audit, consulting, and tax services to over 90% of the Fortune 500 Power, Utilities & Renewables companies. The company’s Q1 2024 highlights that Deloitte predicts that Generative AI (GenAI) will transform retail investing, with GenAI-enabled applications expected to become the leading source of retail investment advice by 2027, growing from a nascent stage to 78% usage by 2028.
17. Nvidia
Brand Value: $44.5 billion
Nvidia is one of the most powerful and influential technology companies in the United States. One of Nvidia’s most notable achievements is its role in the AI revolution. The company’s chips have become the “workhorse for training AI models”, and Nvidia is considered the “dominant” infrastructure player behind the current rise of the AI sector. In Q1 2024, their revenue was $7.19 billion, down 13% year-over-year but up 19% sequentially and their Data Center revenue hit a record $4.28 billion, up 14% year-over-year and 18% sequentially.
16. Disney
Brand Value: $46 billion
Disney is one of the best companies in the US. Disney’s share price has gained approximately 5,800% since its initial public offering, with a 438% increase during CEO Bob Iger’s tenure from 2005 to 2020. Their Q1 2024 report highlights that they realized over $500 million in selling, general, and administrative (SG&A) and other operating expense savings across the enterprise in the first quarter, on track to meet or exceed the $7.5 billion annualized savings target by the end of fiscal 2024. In the first quarter, their diluted earnings per share (EPS) increased to $1.04 from $0.70 in the prior-year quarter and adjusted diluted EPS increased to $1.22 from $0.99 in the prior-year quarter.
15. United Healthcare
Brand Value: $47 billion
UnitedHealthcare is one of the largest and most influential health insurance providers in the United States. The HouseCalls program, which provides in-home visits by qualified healthcare professionals for screenings, vaccines, and links to follow-up treatment and social support programs, is one of United Healthcare’s major contributions. In 2022, approximately 1 million members were tested through this program, with 25% screening positive for previously undiagnosed conditions. s Card: In 2023, UnitedHealthcare introduced the Integrated Benefits Card to 7 million Medicare Advantage members.
14. Costco
Brand Value: $48.4 billion
As of April 2024, Costco has 876 membership-only warehouse locations worldwide, 600 of which were in the United States. Its private label, Kirkland Signature, has been a huge success. Kirkland Signature outsold JCPenney, Macy’s, Campbell Soup, Kellogg, and Hershey combined in sales in 2018, bringing in close to $40 billion. These goods are available for purchase for at least 20% less than national brands. In Q1 2024, their net income rose to $1.589 billion, or $3.58 per share, up from $1.364 billion, or $3.07 per share in Q1 2023.
13. AT&T
Brand Value: $49.3 billion
The AT&T brand is one of the most recognized brands in the world. The company has the most reliable 5G network, covering 290 million people across the United States. AT&T’s 100% fiber network now can serve 21 million+ consumer locations. In Q1 2024, their revenues reached $30.0 billion, slightly down 0.4% from Q1 2023.
12. Home Depot
Brand Value: $52.8 billion
Home Depot stands twelfth among the most powerful brands in the US. In Q1 2024, their sales decreased 2.3% year-over-year to $36.4 billion and Net earnings were $3.6 billion, or $3.63 per diluted share, compared to $3.9 billion, or $3.82 per diluted share in Q1 2023. Their $18.25 billion acquisition of SRS Distribution which was announced in March, is expected to close by the end of fiscal 2024 and significantly boost future earnings.
11. Oracle
Brand Value: $53.1 billion
Oracle has made significant strides in cloud computing, offering a wide range of cloud-based services including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). In Q1 2024, their total quarterly revenues were up 9% year-over-year in USD and up 8% in constant currency to $12.5 billion. Their Cloud services and license support revenues were up 13% in USD and up 12% in constant currency to $9.5 billion in the same period. Oracle Cloud Infrastructure revenue grew 66% in Q1. Total cloud services revenue, Infrastructure plus Applications, grew 30% to $4.6 billion in the quarter.
10. Tesla
Brand Value: $58.3 billion
Despite being a relatively small player in terms of vehicle sales compared to traditional automakers, Tesla has a market capitalization of over $300 billion which is more than the combined value of General Motors, Ford, and Fiat Chrysler. Tesla reported total revenues of $21.3 billion for Q1 2024, a 9% decrease year-over-year, and automotive revenues were $17.38 billion, a 13% year-over-year decrease. Vehicle deliveries declined due to production adjustments for the Model 3 at the Fremont factory.
9. Starbucks
Brand Value: $60.7 billion
Starbucks is one of the biggest companies in the US. In June 2024, Starbucks entered into a partnership with Grubhub to offer delivery of coffees and customized beverages in select US markets. In Q1 2024, their consolidated net revenues increased 8% to a record $9.4 billion. Global comparable store sales grew 5%, with a 5% increase in North America and a 7% increase internationally. Q1 report also highlights that active U.S. Starbucks Rewards membership reached 34.3 million, up 13% over the prior year.
8. Instagram
Brand Value: $70.4 billion
Instagram is one of the most powerful social media platforms in the United States. Instagram generated an estimated $60.3 billion in revenue in 2023, accounting for almost 44% of Meta’s total revenue. Almost half of all Instagram users are in the Asia-Pacific region, with India and Indonesia being two of the five largest markets.
7. Verizon
Brand Value: $71.8 billion
Verizon is also one of the biggest brands in the US. In Q1 2024, their total consolidated revenue was $33.0 billion, up 0.2% year-over-year, and wireless service revenue was $19.5 billion, up 3.3% year-over-year. Their adjusted EBITDA for the same period was $12.1 billion, up 1.4% year-over-year, and Adjusted EPS was $1.15, down 4.2% year-over-year.
6. Facebook
Brand Value: $75.7 billion
Facebook stands sixth among the most powerful brands in the US. In Q1 2024, Facebook had a total revenue of $36.46 billion and a net income of $7.5 billion. There were 3.2 billion daily active people across Family of Apps in March 2024. Facebook’s reality labs revenue stood at $440 million in the first quarter, up 30% year-over-year.
5. Walmart
Brand Value: $96.8 billion
Walmart is one of the biggest companies in the US. In Q1 2024, Walmart reported strong revenue growth of 6.0% to $161.5 billion, with operating income growing faster at 9.6%. The company’s adjusted operating income was up 13.7% and global eCommerce sales were up 21%in the same quarter which was led by store-fulfilled pickup & delivery and marketplace.
