Successful brands are multi-faceted, they embrace AI, appeal to the local economy and achieve “generational harmony.” These were the key takeaways from Ipsos 2024 Most Influential Brands in Canada report, which was unveiled at the Globe and Mail Centre in Toronto on Feb. 5.

Ipsos’ annual study analyzes more than 100 brands, informed by feedback from 6,700 Canadians. It evaluates seven key dimensions that contribute to influence, including trustworthiness, engagement, ability to be leading edge, corporate citizenship, and, new in 2024, empathy and utility.

Ipsos COO Steve Levy tells strategy that Google landed in the top spot once again in three key dimensions: trustworthiness, being leading edge and engagement. He also cited Google’s “generational harmony” as a key marker, meaning the tech giant landed in the top spot among Millennials, Gen X and Boomers, with Gen Z ranking YouTube as their top brand. Netflix was another brand that found success by appealing across all four generations, Levy adds.

The top 10 brands from this year’s study were, once again, dominated by American-based tech companies, while Canada’s top brand, Tim Hortons, landed in the 12th spot thanks to its presence, trustworthiness and corporate citizenship, says Levy, pointing to the brand equity it has built through programs that support minor hockey, for instance. “Those would be the three things that contribute to that brand’s influence.”

Here is a look at Ipsos 2024 Most Influential Brands in Canada, compared to where they landed in last year’s Ipsos study:

1. Google (no change)
2. Amazon (no change)
3. YouTube (no change)
4. Apple (no change)
5. Facebook (no change)
6. Walmart (no change)
7. Netflix (+3)
8. Microsoft (no change)
9. Visa (no change)
10. Samsung (+2)

Canadian brands that cracked the top 20 include Canada Post (14), PC Optimum (15) and Shoppers Drug Mart (17).

“We think about what’s been said in the last six or seven months about things like tariffs, we think about how pricing has been so high that it’s hurting people, maybe the only brands that can help you, are those that are here, and local,” Levy says, adding a question consumers should ask themselves: “Who’s going to look out for me other than a Canadian brand?”

Levy says that, overall, all brands in all markets should be focused on the value they provide. “Value has become imperative, and today, we’re saying, it’s also multi-faceted – these are our takeaways,” Levy explains. “A lot of people are finding it tough to buy a bottle of milk and a loaf of bread. That’s an imperative. It’s multifaceted because… if you have a more complex business model than a bottle of milk, there are several things you need to provide. There are several things you need to demonstrate to your stakeholders to ensure they think you’re providing value.”

As for trends among brands in 2024, Levy says during 11 on-camera interviews with top brands’ CMOs, “every single one of them, in some way, shape or form, talked about AI. So – the time is now.”