TD Bank Group (TD) is the most valuable brand in Canada for the second consecutive year, according to the latest Canada 100 report by Brand Finance, the world’s leading brand valuation consultancy.
With a brand value of CAD25.8 billion, TD edges out RBC, which holds the second position with a brand value of CAD22.4 billion. TD has shown robust performance in Brand Finance's latest consumer research findings. Across Canada, Familiarityhas increased from 71% to 84%, and 31% of individuals currently report using TD's services.
Laurence Newell, Managing Director, Brand Finance North America, commented:
"Despite the ongoing challenges posed by high-interest rates and slow growth, Canadian brands have persevered. Remarkably, the total value of Canada's top 100 most valuable brands has seen a 4% increase, indicating resilience and adaptability in the face of adversity.
Banking remains the powerhouse sector in Canada, with the nine brands listed in the ranking collectively representing close to a third of the total brand value. Once more, TD stands at the forefront as the nation's most valuable brand, surpassing five banking counterparts in the top 10.”
WSP Global brand value soars 72%
WSP Global is the fastest-growing brand in Canada this year, with a notable 72% surge in brand value, now standing at CAD1.6 billion. This growth is primarily attributed to strategic acquisitions and market expansion efforts. The integration of Golder in 2021 and the subsequent rebranding in 2023 notably bolstered market share, driving significant growth. WSP continues its expansion journey with the acquisition of John Wood Group in 2022, aimed at enhancing its environmental leadership and, more recently, Communica Public Affairs, strengthening its indigenous and stakeholder engagement services in Canada.
TELUS dials up success, overtaking Bell to become Canada’s most valuable telecoms brand
TELUS has recorded a solid 13% brand value growth to CAD11.7 billion, positioning it as the leading telecoms brand in Canada this year, surpassing Bell (brand value down 2% to CAD10.8 billion). TELUS has reported robust financial performance, driven by expanding its subscriber base - which now surpasses 10 million mobile phone users - after celebrating the strongest fourth-quarter customer growth on record. This notable achievement underscores the efficacy of its advanced broadband networks and customer-centric ethos.
Moreover, TELUS's Brand Strength Index score has increased by 4.2 points to 80.3 out of 100. This growth primarily stems from enhanced reputation scores and improved perceptions regarding its environmental initiatives. TELUS is actively pursuing its objective of transitioning to 100% renewable or low-emission electricity within the next two years and a commitment to be carbon neutral by 2030 or sooner.
A&W is Canada’s strongest brand
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 150,000 respondents in 41 countries and across 31 sectors.
This year, A&W has claimed the title of Canada’s strongest brand with a Brand Strength Index (BSI) score of 85.3 out of 100. With over 1,000 restaurants across Canada, A&W has consistently maintained a strong level of awareness and familiarity among Canadian consumers. Brand Finance's latest research underscores this, revealing familiarity and consideration scores of 85% and 93%, respectively, across Canada.
Despite its continued success as the strongest Canadian brand for the second consecutive year, A&W has experienced a slight decline in overall strength this year, primarily attributed to lower ESG scores. However, in a significant stride towards sustainability, A&W Canada became the first QSR brand to launch a nationwide exchangeable cup program, 'A&W One Cup,' to combat single-use cup waste. This initiative could bolster positive perceptions across ESG dimensions in the upcoming year.