NEWS20 March 2017
NEWS20 March 2017
CHINA – The brand value of the top 100 Chinese brands has increased 6% to $557.1 billion, with Tencent holding on to the top spot, according to Kantar Millward Brown’s BrandZ study.
Technology company Tencent grew 29% to $106bn thanks to the popularity of its social media platform WeChat. Tencent was also one of three technology brands in the Top 20 Risers listing, reflecting the importance of consumer technology to Chinese life.
As China shifts to a consumption-led economy, the most impressive performances were from brands providing products and services for the urban middle classes. Education and travel agencies were the fastest-growing sectors, up 46%, although the much larger categories of technology and retail showed far higher increases in dollar terms, up 16% to $163.7 billion and 22% to $74.2 billion respectively.
The report pointed to urban middle class consumers moving from price to premium. As many brands have reached the limits for penetration-led growth they are instead focusing on premiumisation as a better way to attract wealthier, middle class consumers.
Technology brands continued to lead the way, with Tencent strengthening its hold on the no. 1 spot thanks to the popularity of social media platform WeChat, while other sector players also performed strongly.
David Roth, CEO EMEA and Asia, The Store, WPP said: “China has come to terms with a new normal for its economy but there are still massive opportunities for strong distinct brands to address the aspirations of the rising urban middle class and drive superior value for shareholders. The strong brand value growth we have seen this year in the technology, travel and education sectors demonstrate that brands that clearly meet a defined consumer need will thrive.”
The BrandZ Top 10 Most Valuable Chinese Brands 2017
Brand value 2017 ($m)
Brand value change
China Construction Bank
Agricultural Bank of China
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