This year’s ranking was worth $216 billion in brand value, a decline of 6% over last year.
WPP and Kantar have released the seventh edition of the BrandZ Top 75 Most Valuable Indian Brands 2020 report today on September 18, 2020.
It focuses on the theme: “Repurposing Brands for the Future” with a strong insight into consumer trends noticed during the pandemic, leaving brands to rise to challenges presented by such unprecedented times.
As per a press note, this year’s ranking was worth $216 billion in brand value, a decline of 6% over last year - driven largely by a slowdown in the brand value of companies in the banking and automotive sectors.
HDFC Bank was India’s top brand worth $20.3 billion, claiming the no.1 spot for the seventh consecutive year, and contributing to banking as the leading category in this year’s ranking worth a total of $42.1 billion in brand value.
Retail and telecom brands outperformed most other categories according to the report. Reliance Retail (+102%, no. 25, $2.3 billion) was the fastest riser this year, up 30 places, with telecom brand Jio (no. 7, $6.9 billion) contributing to the overall success of the parent company.
David Roth, CEO of The Store WPP, EMEA and Asia and Chairman of BrandZ, said: “Brands globally are being tested by the pandemic, especially in countries such as India where the economy was slowing down prior to COVID-19. Many Indian brands have risen to the challenge and demonstrated their ability to innovate and adapt in ways that are world-class. Our analysis proves convulsively once again that companies who invest in brand building are better placed to survive such challenges and come out stronger.”
Preeti Reddy, CEO - South Asia, Insights Division, Kantar, said: “The performance of retail, telecom and FMCG brands has shown that being agile in times of crisis is critical for growth. Brands need to constantly innovate in order to survive and re-purpose themselves for the future, or risk being left behind. Those brands who continue to drive transformation, not just digitally, but in the total experience they deliver to meet consumer needs, will create opportunities to increase their value in the future.”
Other key trends in the BrandZ™ Top 75 Most Valuable Indian Brands Ranking, include:
1. The ‘lipstick effect’: Newcomers included personal care brands, Dove (no. 61, $847 million) and Close Up (no. 69, $663 million), which benefitted as consumers, unable to spend on luxury items, such as holidays during an economic downturn, treated themselves to small luxury personal care items.
2. Trusted brands have weathered the crisis better than brands with a low trust index. In a category where it is difficult to gain consumer trust, Airtel bet on its brand strategy of being open and transparent. It is now one of India’s most trusted brands and grew 36% in its brand value over the past year.
3. Innovation keeps it fresh: Despite the paints industry struggling in India, top 5 brand Asian Paints (no. 5, $8.0 billion), grew its brand value by 14%, by focusing on meaningful difference, communications and innovation. The market leader, it has successfully brought out new products, while building a strong distribution network and raising its profile among key influencers like architects and professional painters.
4. Brands with a strong purpose drive growth, particularly during challenging times. BrandZ analysis shows that consumer expectations of brands to act more responsibly have tripled in the last 10 years and this year’s ranking demonstrates that Indian companies are striving to deliver better products and services, which contribute positively to people’s lives, the environment and wider communities.
You can download the report here.