Of the 23 Asian brands on the list, 15 are from China, including technology firms Tencent, Huawei, Xiaomi and Baidu; banks ICBC, China Construction Bank and Agricultural Bank of China; retailers Alibaba and JD; lifestyle platform Meituan; insurance provider Pingan; transportation firm Didi; telecom provider China Mobile; alcohol brand Moutai and consumer goods brand Haier.
India is up next with three brands on the list including HDFC bank, insurance provider LIC and technology firm TCS.
Japan is represented by Toyota and telecom provider NTT, while Korea, Indonesia and Hong Kong have one brand each with Samsung, BCA bank and AIA.
Amazon dominates the overall list, beating Apple and dethroning Google for the top spot.
Alibaba which was previously second only to Amazon in BrandZ’s Top 75 Most Valuable Retail Brands list makes it to number seven, overtaking Tencent to become the most valuable Chinese brand. Interestingly enough, Huawei has risen up the ranks by one spot and grown by 8% in the report, an indication that the fieldwork was completed before the brand’s recent troubles with the United States government.
The Store WPP EMEA and Asia CEO and chairman of BrandZ David Roth said: “The growth in value of this year’s Top 100 brands to an all-time high proves the power of investing in brands to deliver superior shareholder value.
“Behind this headline growth figure lies the success coming from a new phenomenon of ecosystem brand building.
“We’re seeing a move from individual product and service brands to a new era of highly-disruptive ecosystems. Brands need to understand the value this type of model can create and should embrace its approach to be successful in the future.”
Kantar’s global head of BrandZ Doreen Wang added: “Amazon’s phenomenal brand value growth of almost $108 billion in the last year demonstrates how brands are now less anchored to individual categories and regions.
“The boundaries are blurring as technology fluency allow brands, such as Amazon, Google and Alibaba, to offer a range of services across multiple consumer touchpoints. Using their consumer experience and expertise, these brands are crossing over into the business services sector, creating new opportunities for brand growth.
“Disruptive ecosystem models are flourishing in regions such as Asia, where consumers are more technology-enabled and where brands are integrating themselves into every aspect of people’s daily lives.”
According to BrandZ, the key trends from the report this year include:
Luxury is the fastest growing category: Luxury has grown by over 29% followed by retail (25%), fuelled by the shifting preferences to digital channels from GenY and GenZ consumers.
Technology, finance and retail categories dominate: They account for more than two-thirds of the total value of brands.
There are nine newcomers in the Top 100: These are predominantly driven by Chinese and US technology brands, with disruptive business models including Dell Technologies, Xbox, Haier, Meituan and Xiaomi.
Brands created after 1996 are miles ahead when it comes to growth rate: GenZ brands (created after 1996) add more value to the ranking per year of existence – almost four times more than brands created in the millennial era of 1977 to 1995. A total of 23 GenZ brands appear in the Top 100, with an average age of 16 years compared to 18 millennial brands averaging 33 years.
The China and US trade wars affected the growth of the Top 100 ranking: It slowed to 7% over the last 12 months. Consumer confidence was hit as the trade tariffs impacted several brand categories with cars, logistics and banks suffering the most.
This is the 14th edition of the BrandZ report which is commissioned by WPP, with brand valuation conducted by Kantar. The ranking combines market data from Bloomberg with extensive consumer insights from over 3.7 million consumers around the world, covering over 166,000 brands from over 50 markets. The full report can be found here.
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