Coffee chain retains nº 1 spot for seventh consecutive year and is worth $53.4 billion, up 17% year-on-year
Starbucks is the most valuable restaurant brand in the world in 2023, according to the annual Brand Finance Restaurant ranking.
The multinational chain of coffee shops has held that position for seven consecutive years.
This year, in addition to maintaining its leadership, it widened the distance in relation to second place, McDonald’s.
Between 2022 and 2023, Starbucks saw its brand value grow by 17% to $53.4 billion.
In contrast, McDonald’s lost 7% of the value of its brand in the same period, which is valued at US$ 36.9 billion (R$ 193 billion).
“Starbucks generated accelerated demand for its products throughout 2022 following a continued return to normalcy as pandemic-related restrictions eased globally,” says the Brand Finance report.
Starbucks brand value in 2023 is 30% higher than its 2020 value based on a pre-pandemic valuation.
The consultancy attributes this year’s appreciation to the positive impact of the brand’s reinvention plan launched in 2022, aiming at targets until 2025.
Some of the fronts of the plan are improving employee well-being, portfolio and store growth, and advancing sustainability goals. The aim is to accelerate the company’s long-term growth and progressively expand operating margins.
Sustainability
Regarding sustainability, in addition to being the most valuable restaurant brand in the world, Starbucks also has the highest Perception of Sustainability value, an assessment made by Brand Finance within the overall ranking.
The value of the restaurant in this segment is US$ 3.1 billion (R$ 16.2 billion).
Richard Haigh, Executive Director of Brand Finance, comments that “to sustain success into the future, restaurant brands must increasingly meet the highest sustainability standards that consumers demand when it comes to the food they eat and drink”.
McDonalds
Just as Starbucks has been at the top of the Brand Finance ranking for seven years, McDonald’s occupies the second position on the podium for the same period.
Last year, however, the restaurant saw its brand value drop 7.2%, falling from US$ 39.72 billion (R$ 208.1 billion) in 2022 to US$ 36.86 billion (R$ 193, 1 billion) this year.
According to the consultancy, problems in the supply chain and the general increase in prices harm the fast food chain’s business.
“Due to macroeconomic difficulties, McDonald’s has raised its prices on several popular menu items over the last twelve months. For a restaurant brand whose identity is based on low-priced products, this decision was not well received by consumers”, says the report.
To get around the situation, the company announced the “Accelerating the Arches” plan that envisions a strong focus on its digital, delivery and drive-thru offerings.
Digital offerings make up more than a third of McDonald’s sales and are vitally important to the brand.
Check out the ten most valuable restaurant brands:
1. Starbucks
Value: $53.43 billion
Comparison with 2022: +17%
2. McDonald’s
Value: $36.86 billion
Comparison with 2022: –7%
3. KFCValue: $17.66 billion
Comparison with 2022: 0%
4. Domino’s Pizza
Value: $7.35 billion
Comparison with 2022: +1%
5. Subway
Value: $7.05 billion
Comparison with 2022: 0%
6. Taco Bell
Value: $7.05 billion
Comparison with 2022: +11%
7. Tim Hortons
Value: $6.09 billion
]Comparison with 2022: +38%
8. Wendy’s
Value: $6.06 billion
Comparison with 2022: +27%
9. Burger King
Value: $5.99 billion
Comparison with 2022: +39%
10. Pizza Hut
Value: $5.88 billion
Comparison with 2022: 0%