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Kantar BrandZ 2024 Most Valuable Global Brands

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8K views228 pages

Kantar BrandZ 2024 Most Valuable Global Brands

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Fernd

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2024 MOST VALUABLE

GLOBAL BR ANDS

©Kantar 2024
1 2 3 4 5
W E LC O M E I NT RO D U CTION HOW BR ANDS M O ST VA LUA B L E AC C E L E R AT I N G C AT EG O RY
& AN ALYSIS C R E AT E VA LU E G LO B A L B R A N D S G RO W T H F O CU S

03 — INFOGRAPHIC 13 — OVERVIEW 26 — THE MACROECONOMY 40 — TOP 100 GLOBAL BRANDS 53 — WHAT IS THE BLUEPRINT 95 — THE CATEGORY OVERVIEW
OF OPPORTUNITY FOR BRAND GROWTH?
04 — WELCOME 15 — KEY RESULTS 42 — TOP 10 BRANDS 98 — ALCOHOL
28 — THE PIVOTAL BRAND 57 — RATIONAL AND EMOTIVE
07 — WHAT IS KANTAR BRANDZ? 16 — STOCK PORTFOLIO OPPORTUNITY IN 44 — NEWCOMERS AND CONNECTIONS 106 — APPAREL
GENERATIVE AI RE-ENTRANTS
17 — MOST VALUABLE 59 — WHY DIFFERENCE MATTERS 113 — AUTOMOTIVE
GLOBAL BRANDS 2024 32 — PARIS 2024 OFFERS 46 — TOP RISERS FOR B2B MARKETERS 120 — BUSINESS TECHNOLOGY
19 — MAJOR TRENDS BRANDS AN OLYMPIC- 48 — FROM MARKETING METRIC AND SERVICES PLATFORMS
SIZED OPPORTUNITY 64 — EMOTIVE BRAND
TO BOARDROOM ESSENTIAL POSITIONING 127 — CONSUMER TECHNOLOGY
35 — GREENWASHING AND SERVICES PLATFORMS
69 — TURN TO THE LEFT, TURN
TO THE RIGHT?

6 7
134 — FAST FOOD
72 — MAYBE SHE’S BORN WITH IT: 141 — FINANCIAL SERVICES
MAYBE IT’S STRONG
BRANDING 148 — FOOD AND BEVERAGES

76 — REDEFINING CUSTOMER 155 — LUXURY

EXPERIENCE
162 — MEDIA AND
80 — OUT OF SIGHT, OUT OF MIND ENTERTAINMENT
C L IE N T RE S O URCE S 84 — AIRBNB’S STRATEGY FOR 169 — PERSONAL CARE
P E R S PEC TI V E S GROWTH BEING PRESENT
176 — RETAIL
87 — HOW SAMSUNG HAS
183 — TELECOM PROVIDERS
CONTINUED TO GROW
THROUGH INNOVATION TO
191 — AB INBEV 209 — BRAND VALUATION REMAIN A STRONG BRAND
METHODOLOGY
194 — HAIER 90 — IDENTIFY OPPORTUNITIES
213 — REPORTS & PUBLICATIONS TO GROW
197 — INFOSYS
214 — ABOUT US
200 — MASTERCARD
216 — OUR BRAND EXPERTS
203 — P&G
224 — KANTAR BRANDZ TEAM
206 — PEPSI
226 — CONTACT US

TH E TO P 100 M O ST VALUAB LE G LO BAL B R AN DS TH E TO P 10 TO P 10 RI S E R S C ATEG O RY CO M P O S ITI O N

B R A N D VA LU E (U S $ M) B R A N D VA LU E C H A N G E B R A N D VA LU E (U S $ M) B R A N D VA LU E C H A N G E

APPLE SAMSUNG $1,015,900 2024 V S . 2023 2024 V S . 2023

1 51
2
GOOGLE 52
SPECTRUM +178% B US I N E S S T EC H N O LO GY
3
MICROSOFT 53
SERVICENOW
2024
A N D S E RV I C E S P L AT F O R M S
$753,474
4
AMAZON 54
XBOX +15%
$712,883
$201,840 M
$2,336,695
5
MCDONALD’S 55
AMERICAN EXPRESS
BUSINESS TECHNOLOGY
AND SERVICES PLATFORMS

NVIDIA L’ORÉAL PARIS

2023
6 56
$576,622 M E D I A A N D E N T E RTA I N M E N T
7
VISA 57
MERCADO LIBRE +30%
+93% $1,347,214
8
FACEBOOK 58
HAIER +42%
9
ORACLE 59
J.P. MORGAN $113,916 M

TENCENT UNITEDHEALTHCARE
10 60 +23% MEDIA AND

$221,902 $201,840
ENTERTAINMENT
FA ST F O O D
11
MASTERCARD 61
UBER $188,929 $392,025
12
LOUIS VUITTON 62
CHASE
13
INSTAGRAM 63
CHINA MOBILE
$166,751
$145,498
$135,215
+79%
C O N S U M E R T EC H N O LO GY
ARAMCO RBC
-4%
14 64 +16%
$166,751 M
A N D S E RV I C E S P L AT F O R M S
15
COCA-COLA 65
WELLS FARGO
MEDIA AND
+12%
$1,238,544
+178% ENTERTAINMENT

16
IBM 66
TOYOTA +79%

HERMÈS ICBC
+58%
17 67
18
MOUTAI 68
SIEMENS +74% F I N A N C I A L S E RV I C E S
19
ADOBE 69
BCA $70,408 M $803,942
20
ACCENTURE 70
ZARA
BUSINESS TECHNOLOGY
AND SERVICES PLATFORMS

21
VERIZON 71
HUAWEI LUX U RY
22
AT&T 72
LOWE’S N E WCO M E R S & RE-E NTR ANT S TH RE S H O LD FO R TO P 100
23
NETFLIX 73
AIRTEL +71% $356,936
24
THE HOME DEPOT 74
INFOSYS B R A N D VA LU E (U S $ M) B R A N D VA LU E (U S $ M) $31,377 M
25
TELEKOM/T-MOBILE 75
KFC CONSUMER TECHNOLOGY
AND SERVICES PLATFORMS
A LC O H O L
26
TESLA 76
GUCCI $232,743
27
NIKE 77
TD
28
ALIBABA 78
EXXONMOBIL +66%
29
WALMART 79
PAYPAL $50,277 $84,821 M A P PA R E L
30
STARBUCKS 80
BMW BUSINESS TECHNOLOGY
$180,485
YOUTUBE DELL TECHNOLOGIES
AND SERVICES PLATFORMS
31 81
32
LINKEDIN 82
COMMBANK
33
UPS 83
MERCEDES-BENZ +61% AU TO M OT I V E
34
COSTCO 84
RED BULL $39,759 $23,138
$20,369 M $210,176
35
TIKTOK 85
FEDEX RETAIL

36
CHANEL 86
IKEA
37
MARLBORO 87
NTT +60%
R E TA I L
38
CISCO 88
VMWARE $631,571
39
SAP 89
SONY $21,505 $21,024 $20,616 $55,670 M
40
QUALCOMM 90
PING AN
BUSINESS TECHNOLOGY
AND SERVICES PLATFORMS

41
AMD 91
ALDI F O O D A N D B E V E R AG E S
42
SALESFORCE 92
LULULEMON $288,037
43
INTUIT 93
VODAFONE +58%
44
ADP 94
PINDUODUO $20,369 $19,563 $145,498 M
45
XFINITY 95
BUDWEISER PERSONAL CARE
BUSINESS TECHNOLOGY
AND SERVICES PLATFORMS

46
TCS 96
NONGFU SPRING $174,357
47
HDFC BANK 97
BANK OF AMERICA
48
INTEL 98
HSBC +53%
49
DISNEY 99
DHL $19,043 $51,860 M T E L EC O M P R O V I D E R S
50
TEXAS INSTRUMENTS 100
CORONA 2006 2024
BUSINESS TECHNOLOGY
AND SERVICES PLATFORMS $432,789

CHALLENGES AND BREAKTHROUGHS

TO P BR A N DS REPOSITI O N FO R LO N G-TERM GROW TH

In a return to growth following the challenges of recent years,

the total value of the Kantar BrandZ Global Top 100 Most Valuable
Brands has risen by 20% year on year.
A lot of the credit for this turnaround should go to the We’re particularly excited about this work. For the very
world’s top tech brands, who have contributed $1.2 trillion first time, Kantar BrandZ’s billions of attitudinal data
of the Top 100’s $1.4 trillion growth versus last year. This points and externally validated Meaningful Different and
reinvigorated tech contingent is once again led by Apple, Salient framework combine with extensive behavioural
which this year becomes the first ever brand to cross data from Kantar’s Consumer Panels to form one
$1 trillion in brand value – a staggering achievement. coherent narrative of how brands really grow. Most
importantly, the Blueprint outlines the main Growth
There’s plenty to cheer in the vast brand landscape beyond Driver and three interconnected Growth Accelerators
Silicon Valley too. This year’s Top 100 features a diverse marketers need activate to shape their brand future,
array of brands charting routes to exceptional growth: whatever the starting point.
from Aldi and Lowe’s in Retail, to Lululemon and Zara in
Apparel to name just a few of the brands managing to All of this has been condensed into a beautifully curated
outpace the robust growth of the ranking as a whole. and detailed visual guide for easy reference – you’ll find
a link to download it later in this report.
If there’s one thing the world’s strongest brands have in
common, it’s an unwillingness to rest on their laurels. For the past 19 years, through our work with the Kantar
Today’s top brands – and brand marketing teams – are BrandZ database, Kantar has been testing and refining
always looking to accelerate growth, whether that means a unique model of brand value. We start by examining
leveraging insights to raise creative work from good to relevant corporate financial data and stripping away
great; finding new ways to show up impactfully along the everything that doesn’t pertain to the branded
path to purchase; or pursuing breakthrough innovations business. Uniquely, we then conduct ongoing, in-depth,
that find new spaces beyond the bounds of their quantitative consumer research. This year we’re incredibly
pre-existing categories. proud that more than 170,000 consumers across more
than 50 countries contributed to the research.
All of these value-boosting activities work best, we
believe, when married to enduring, distinct, emotionally
resonant brand identities. This is a conviction that has
now been tested, modelled, and codified in Kantar’s all
new Blueprint for Brand Growth.

What you’ll find in this report

The category-spanning, insight-laden Section 4:
report you have before you is the fruit of
considerable labour – part of our continuing
Growth Accelerators
mission to bring the very best advice and Kantar’s top experts share best practices
guidance to your business. on how brands can best leverage Meaningful
Difference, Kantar BrandZ data, and the
How you read the report – whether front to Blueprint for Brand Growth.
back or skipping around – depends on your
needs and time available. Whatever way Section 5:
you choose, I guarantee that your time will
be well spent. To help you navigate it,
Category Focus
here’s a guide to the major components: An examination of brand performance
across 13 categories, alongside interviews
with senior executives from some of Kantar
Section 1:
BrandZ’s most valuable brands.
Introduction
Here we connect the dots, summarise Section 6:
the key developments and findings, and
identify cross-category trends. Resources
The report concludes with all the contact
details and other relevant information
Section 2:
needed to go from reading the report to
Wider Context taking constructive next steps.
You can find thought leadership that
examines how brand builders can best
respond to global macro-drivers like political
uncertainty, next-gen sustainability,
and the rise of AI.

Section 3:
Kantar BrandZ Most Valuable
Global Brands 2024
The full, detailed ranking of this year’s most
valuable brands, plus in-depth analysis.

Shape your brand future

This report is a starting point. I urge you to Please feel free to contact me directly,
follow up with the experts who contributed or reach out to any of our Kantar leaders
to it. We also have an extensive library listed in the Resources section at the end
of Kantar BrandZ country reports that of this report.
sit alongside our annual Global Top 100
report. In them, you will find intelligence Sincerely,
about brand building in key markets such
as China, India, the UK, the US, and many
more. I invite you to access these reports
with our compliments at kantar.com/
campaigns/brandz.

As the world’s leading marketing data and

analytics company, Kantar’s research
and technology resources are substantial,
and include over 20,000 people worldwide.
Our holistic brand guidance approach
combines brand, innovation, customer
experience, creative content, and media
insights to optimise investment and Chris Jansen
accelerate profitable growth. Chief Executive
Kantar
[email protected]

5.5 BILLION
DATA
POINTS

4.3 MILLION
CONSUMER
INTERVIEWS

THE

21,000
DEFINITIVE BR ANDS
GUIDE
TO BR AND

532
BUILDING CATEGORIES

54
Kantar BrandZ ranks the most valuable This brand valuation series began in
brands in the world... and shows you 2006 to help researchers, planners
MARKETS
how to become one of them. and strategists better understand the
brands they worked on. Our reports
It is the world’s largest, consumer- rank, analyse and honour the world’s
focused source of brand equity insight, top brands.
which also powers our proprietary
brand valuation methodology. Kantar BrandZ has become a global
standard brand value ecosystem,
Kantar BrandZ brings you industry-leading featuring our flagship Most Valuable
brand valuations, along with research Global Brands ranking and report.
from the world’s most extensive brand It also features country and regional
equity study: over 4 million consumer rankings across six continents, and
interviews covering 21,000 brands world-class thought leadership on
across 532 categories in 54 markets. building strong brands.

Kantar BrandZ uniquely arrives at brand value by

combining the perceptions of those affecting the
stock market with the perceptions of consumers.
To understand how much brand contributes to
the overall business value, we examine relevant
corporate financial data and strip away everything
that doesn’t pertain to the branded business.

We also conduct ongoing, in-depth quantitative

research with more than 170,000 consumers and
business decision-makers annually and globally
The proportion of the total $ value of the The proportion of financial value generated The $ amount that the brand contributes to assess attitudes about, and relationships with,
parent company that can be attributed to the by the brand’s ability to increase purchase to the overall business value of the parent thousands of brands.
brand in question, considering both current volume and charge a premium. company. Kantar BrandZ valuations isolate
and future performance. the value generated by the strength of the
brand alone in the minds of consumers
Then, a team of our analysts combine those
i.e. with all other elements removed. inputs with a financial model of the business to
determine the brand’s ability to generate value.

The result is a holistic portrait of brand equity:

one that incorporates how the market values
a company’s brand assets – and how ordinary
people do, too.

Kantar BrandZ research data Get essential insight on category

is uniquely linked to financial trends and macroeconomic shifts
outcomes. Our analysis has – and how brands compare across
repeatedly proven that businesses crucial building blocks of brand
that invest in their brands value in Kantar’s proprietary
outperform the market... and that Meaningful Different and 441% P OWE RFU L B R AN DS

STRO NG
TO P 10 P O RTFO LI O
investing in your brand remains Salient framework.
the most powerful way to grow.
What’s more, we can show you BR ANDS:
how. Our data and frameworks 400% STRO N G B R AN DS
P O RTFO LI O
work to create a forensic portrait
of a brand’s strengths, weaknesses
and opportunities within one – or 312% S&P 500 DELIVER SUPERI O R
many – categories and markets. SHAREH O LDER RE TURNS

ARE M O RE RESILIENT
IN TIMES O F CRISIS
149% MSCI WORLD INDEX

RECOVER M O RE Q UI CKLY

2006 2024

The most valuable brands in the world have built KANTAR BRANDZ ANALYSIS PROVES THAT STRONG
BRAND EQUITY IS GROWING SHARE PRICES FASTER Don’t just take
powerful connections allowing them to create
our word for it
AND HIGHER OVER THE LONG TERM

shareholder value faster, resist market downturns % Growth vs. 2006

and recover sooner from recessions. Brands with

powerful connections have three essential qualities: The University of Oxford’s Saïd Business School
400
has studied Kantar BrandZ brand valuations
Meaningful Different and Salient. 312 and compared them against the real-world
ups and downs of business.
Behavioural science has taught us that our Brands with powerful connections are...
brains store memories using three types of
mental connection: knowledge, feelings and Meaningful: The extent to which brands They found that Kantar BrandZ equity metrics
experience. Brands with a balance of each create clear and consistent functional and are an excellent predictor of ‘abnormal’
come to mind most easily – quickly activating emotional connections with consumers.
the brain’s memory-retrieval processes. Meaningful brands meet people’s needs in a business returns – those not explained by
Effective marketing delivers all three:
way that demonstrates warmth. historical share price performance and
informing us of what a brand is or does; Different: The extent to which a brand is
S&P 500 Kantar BrandZ
Strong Brands company results alone – and that adding
providing an emotional context and tapping seen to offer something that others don’t Kantar BrandZ measures to their models
into our emotional needs; and ensuring a and lead the way. Different brands are hard
positive experience of the brand when used. to substitute and often offer something new. allowed them to predict business performance
The strongest brands – ones that have built Salient: The mental availability of the The Kantar BrandZ Strong Brands Portolio has grown share
with 99.5% accuracy.
up deeper and broader connections over brand – how quickly and easily it comes prices +88% more than the S&P 500 index.
to mind when choosing between options.
time – end up with three essential qualities:
they are Meaningful Different and Salient A brand’s most fundamental role is as a It has consistently outperformed the S&P 500 every year
What they also found was that Difference
to consumers. shortcut for decision making. for the past 18 years. contributed most to the best business results.

© Kantar 2024 | 10
BRANDSNAPSHOT
Explore Kantar BrandZ data for free on an
interactive dashboard.
BrandSnapshot powered by Kantar BrandZ brings you intelligence on the strengths
and weaknesses of brands across thousands of categories in global markets.

BrandSnapshot is ideal for when you need to:

• Get a quick read on the performance of your own and competitor
brands within a specific category
• Understand the driving forces behind your brand’s demand,
its pricing power and potential growth opportunities
• Discover untapped potential and identify opportunities to build
Meaningful Difference for your brand

Instantly gain insights on your brand from the world’s most extensive brand equity study.
Explore for free at: kantar.com/marketplace

13 — OVERVIEW

15 — KEY RESULTS

16 — STOCK PORTFOLIO

17 — MOST VALUABLE GLOBAL

BRANDS 2024

19 — MAJOR TRENDS

MAKING THEIR OWN LUCK

GLOBAL TOP 100 GROW TH OUTPACES
WIDER ECONOMY, PRE-PANDEMIC TRENDS
The Kantar BrandZ Top 100 Most Valuable Global Long-term brand value growth remains ahead of pre-COVID levels
Top 100 aggregate value over time
Brands grew by 20% this year as the biggest names
in branded business added $1.4 trillion to their Average Growth Rate Growth since 2023 Pre-COVID Since 2006 Overperformance
cumulative brand value since 2023. 2006-2020

This strong performance represents a Perhaps most importantly, the total value
+9.3% +20% +76% +474% +$1.1 TN
strong turnaround following last year’s stock of the Global Top 100 now stands $1.1 trillion
market-induced swoon. Between 2022 and higher than pre-pandemic growth trends
2023, the Global Top 100 declined by 20% would have predicted – meaning that
– a fall driven in part by macroeconomic the world’s top brands have significantly
instability, but also by investor fears that top accelerated their growth trajectories in the
brands were losing their edge on profitability. years since March 2020.

The wake-up call worked. Over the past The same cannot be said for the global
year, branded businesses have embarked economy as a whole. An April 2024 analysis
on efforts to rightsize their workforces, by the International Monetary Fund (IMF)
streamline their offerings, and focus new found that as of this year, the total GDP
spending on key strategic initiatives (such as of the global economy sits at a level 3%
improving customer experience outcomes, below what pre-pandemic growth trends
or pursuing breakthrough innovation in had predicted.
areas like AI and sustainability).
The IMF did allow that the US economy, the
Today, the total value of the Global Top 100 world’s largest, had managed to buck this
stands at nearly $8.3 trillion. That’s a notch trend and outpace its pre-COVID growth
below the high-water mark of $8.7 trillion trajectory. But the US stands as a rare
that the rankings achieved in 2022. But that exception, as most advanced and developing
$8.3 trillion also represents a 76% increase economies have been ‘scarred’ by the crisis
over the rankings’ pre-COVID valuation. to varying degrees.

This, then, remains the core promise of Partly, this shift is due to government But brand builders now realise that many
investing in brand equity: While top brands encouragement: In recent years, China’s consumers prefer to hear about more tangible
can never be fully immune to market swoons State Council has begun to speak of brand steps toward sustainability: ways that brands
or economic shocks, strong brands have building as an essential component of the are improving quality of life in the here and
retained an unparalleled ability to grow country’s transformation from a ‘Made in now. And if these improvements can be
beyond any limitations set by category or China’ economy to a ‘Created in China’ achieved while actually saving consumers
geographic context. economy. But it’s also just simple economics money, that’s all the better – especially as
– as China’s domestic economy matures, the economic forecast continues to call for
Looking ahead, the IMF now predicts global Chinese brands will naturally seek to ‘find more modest growth through 2025.
GDP growth of 3.2% for both 2024 and new spaces’ abroad in order to keep growing.
2025 – a pace of expansion the organisation Overall, what this macroeconomic picture
acknowledges is ‘low by historical standards’, Today, China’s trade surplus in suggests is that top brands will have to
even as inflation continues to abate. manufactured goods is the largest any continue making their own luck. Instead of
country has achieved since World War II. counting on strong commercial headwinds
The biggest bright spot in this picture is the And increasingly, these exports are of to speed them along, brands will have
Indian economy, which the IMF predicts will branded goods: See, for instance, the way to leverage their homegrown Meaningful
grow by 6.8% – although the country’s unique that China recently replaced Japan as the Difference to get ahead: to predispose more
retail infrastructure and regulatory climate world’s top auto exporter, a shift driven people, be more present, and find new space
means that global brands will need a highly especially by the rise of lower-cost for growth in the years to come.
localised playbook to win in India. Chinese electric vehicle (EV) brands.

China’s economy, by contrast, has begun to As that example suggests, Chinese brands
enter a more mature phase (though GDP are also driving a change in the value
growth still remains robust compared to the dynamics around sustainability – offering
growth rates of Western economies). What products like EVs, energy-efficient appliances,
hasn’t changed is the importance of the and solar panels at highly competitive prices.
Chinese economy to many global brands.
In general, the conversation around
In 2024, it’s not just that China continues sustainability is evolving to emphasise a
to play an outsized role in the global supply greater immediacy of impact. Long-term
chain, or that the Chinese domestic market brand pledges for systemic transformation
remains a formidable growth driver for by 2040 or 2050 remain an important part
brands able to win over local consumers. of corporate sustainability strategies.
It’s also that many Chinese brands are
themselves professionalising and globalising
with a quickness.

KEY
R ANKED CATEGORY TOP RISERS
RESULTS BR ANDS R ALLY GROW TH NVIDIA, high-tech
Top 100 brands worth Valuable brands hail brands soar
nearly $8.3 trillion from all over A number of iconic digital brands saw strong year-on-
year value growth for 2024 – with Instagram, Facebook,
Google Cloud, and Uber performing especially well.
The total value of the Kantar BrandZ Top 100 Most This was a strong year for category value growth –
And then there’s NVIDIA, which is a new arrival to the
Valuable Global Brands rose 20% this year, in a especially compared to 2023, when there was a broad
Global Top 10 for 2024. NVIDIA is also the year’s Top
strong turnaround following last year’s stock market- decline across categories. This year, Tech, Luxury, and
Riser, with 178% year-on-year brand value growth.
induced swoon. While brand value growth could be Fast Food brands made the most progress in regaining
Long in demand for its cutting-edge graphics chips,
found anywhere, this rally was largely powered by the and then exceeding their 2022 valuations. Among this
NVIDIA’s recent innovations have placed it at the
performance of tech brands, which drove $1.2 trillion group, the Business Technology and Services Platforms
centre of many major technological advancements –
of the Top 100’s $1.4 trillion growth versus 2023. category was the fastest-growing of all, rising 45%
including the rise of generative AI, spatial computing,
year on year.
and self-driving cars.

WORLD’S MOST NE WCOMERS THE TOP 10

VALUABLE Nine brands join The big get bigger
Apple reaches the Top 100 2024 marks the first time that the Global Top 10 is
worth as much in brand value as the other 90 top
new heights This year’s Top 100 features an incoming class of nine ranked brands combined. The world’s five most
valuable brands – Apple, Google, Microsoft, Amazon,
newcomers and re-entrants. Of these, five newcomers
entered the Top 100 for the first time, including and McDonald’s, in that order – all held to their
With a 15% increase in brand value, Apple secured
lululemon at 92 and 2024’s highest-ranked newcomer, previous placements. Meanwhile, Oracle makes it
its third straight year as the world’s most valuable
ADP, at 44. Another four brands are returning to the debut and Facebook makes its return to the Top 10.
brand. In doing so, Apple also became the first brand
in history to surpass $1 trillion in total brand valuation, Top 100 list after a hiatus: Dell Technologies, Aldi,
setting a new high-water mark for what’s possible Pinduoduo, and HSBC.
when growing branded businesses.

ALL-WE ATHER VALUE

STRONG BR ANDS THRIVE IN UNCERTAIN TIMES

Strong brands do far more than win press accolades The Kantar BrandZ Strong Brands Portfolio has reached its highest ever return on investment
Kantar BrandZ Strong Brands Portfolio vs S&P 500 vs MSCI World Index (2006 - 2024)
and consumer recognition. The value of a brand has
a clear, measurable link with the share price of the
company behind it. 441% P OWE RFU L B R AN DS
TO P 10 P O RTFO LI O

Strong brands provide stock market resilience In particular, the value of the Kantar BrandZ
during periods of volatility. When turbulence Strong Brands Portfolio increased 400% 400% STRO N G B R AN DS
P O RTFO LI O
drives markets down, strong brands tend to between April 2006 and April 2024. In the
decline more slowly; when markets recover, process, the Portfolio attained its highest ever
strong brands rebound more quickly. Strong
brand equity also turbocharges gains during
return on investment – well outperforming
both the S&P 500 and the MSCI World Index
312% S&P 500

periods of sustained economic growth. (a weighted index of global stocks).

Over the 18 years in which we have been What that means is that $100 invested in
tracking the world’s strongest brands, the 2006 would be worth $249 based on the
companies behind the top-ranking brands MSCI World Index growth rate, and $412
have outperformed stock market benchmarks. based on the S&P 500 growth rate. But that
$100 invested in the world’s strongest brands
149% MSCI WORLD INDEX

would be worth $500.

2006 2024

OT H E R

PA REL
AP
99 BU
L SIN

2024 MOST VALUABLE GLOBAL BRANDS

O NA 85 ES
ST
R S RE EC
PE C A 92 HN
78 OL
E 68 OG
IV 88

2024 MOST VALUABLE GLOBAL BRANDS

OT 58 Y
&
TOM 81 SE
AU
70 46 RV
80 I C
48
BRAND BRAND VALUE (US$M) BRAND BRAND VALUE (US$M)

ES
L
O 38

PL
APPLE SAMSUNG
H
1 51
95 37 1,015,900 40,074
CO

AT
83 56 50
2
GOOGLE 1 APPLE 52
SPECTRUM 51 SAMSUNG

F
753,474 1,015,900 39,933 40,074
AL

O
66
MICROSOFT SERVICENOW 52 SPECTRUM

RM
100
2 GOOGLE
3 53
40 712,883 753,474 39,759 39,933

S
33
27 16 53 4
AMAZON 3 MICROSOFT 576,622 54
XBOX
712,883 53 SERVICENOW 39,722 39,759
41
5
MCDONALD'S4 AMAZON 221,902 55
AMERICAN EXPRESS
576,622 54 XBOX 39,720 39,722
S

96
NVIDIA 5 MCDONALD’S L'ORÉAL PARIS55 AMERICAN EXPRESS
RA &
GE

6 56
74 201,840 221,902 39,510 39,720
VE D

26 19
VISA MERCADO LIBRE
B E FO O

7 57
6 NVIDIA 188,929 201,840 56 L’ORÉAL PARIS 32,831 39,510
FACEBOOK7 VISA HAIER
42 8 58
14 9 166,751 188,929 57 MERCADO LIBRE32,347 32,831
84
20
9
ORACLE 8 FACEBOOK 145,498 59
J.P. MORGAN 58 HAIER
166,751 32,243 32,347
18
$145,498 M 10
TENCENT 9 ORACLE 135,215 60
UNITEDHEALTHCARE
145,498 59 J.P. MORGAN 31,803 32,243
43 11
MASTERCARD
10 TENCENT 134,251 61
UBER
135,215 31,377
60 UNITEDHEALTHCARE 31,803
3 12
LOUIS VUITTON
11 MASTERCARD 129,857 62
CHASE
134,251 61 UBER 31,328 31,377
6 13
INSTAGRAM
12 LOUIS VUITTON 113,916 63
CHINA MOBILE62 CHASE
129,857 31,017 31,328
RY

15
$712,883 M 44 14
ARAMCO13 INSTAGRAM 107,722 64
RBC CHINA MOBILE 31,000
LUXU

76 36 113,916 63 31,017
$201,840 M
15
COCA-COLA
14 ARAMCO 106,453 65
WELLS FARGO64 RBC
107,722 30,855 31,000
17
16
IBM 15 COCA-COLA 98,636 66
TOYOTA
106,453 65 WELLS FARGO 30,243 30,855
17
HERMÈS 16 IBM 93,676 67
ICBC
98,636 66 TOYOTA 27,734 30,243
12 13 18
MOUTAI 17 HERMÈS 85,565 68
SIEMENS
93,676 67 ICBC 27,330 27,734
5
19
ADOBE 18 MOUTAI 84,821 69
BCA
85,565 68 SIEMENS 27,152 27,330
30
2
8
20
ACCENTURE
19 ADOBE 81,935 70
ZARA
84,821 69 BCA 27,101 27,152
VERIZON 20 ACCENTURE HUAWEI
32 21 71
$221,902 M 81,473 81,935 70 ZARA 26,670 27,101
FA ST FOOD

75 22
AT&T 21 VERIZON 76,452 72
LOWE'S
81,473 71 HUAWEI 26,612 26,670
$753,474 M
21 $166,751 M
23
NETFLIX 22 AT&T 74,919 73
AIRTEL
76,452 72 LOWE’S 25,263 26,612
4
23 24
THE HOME DEPOT
23 NETFLIX 74,712 74
INFOSYS
74,919 73 AIRTEL 24,686 25,263
25
TELEKOM/T-MOBILE
24 THE HOME DEPOT 73,516 75
KFC 74 INFOSYS 24,640

T
74,712 24,686

EN
45
26
TESLA 25 TELEKOM/T-MOBILE 71,910 76
GUCCI
73,516 75 KFC 23,820 24,640

RTAINM
93
25
22 $576,622 M 10
35
27
NIKE 26 TESLA 71,616 77
TD
71,910 76 GUCCI 23,747 23,820
ALIBABA 27 NIKE EXXONMOBIL
7 28 78
69,946 71,616 77 TD 23,528 23,747
31 29
WALMART28 ALIBABA 69,700 79
PAYPAL
69,946 78 EXXONMOBIL 23,516 23,528

ENTE
63 $135,215 M
$188,929 M
30
STARBUCKS
29 WALMART 69,625 80
BMW PAYPAL 23,163
TELE

52 69,700 79 23,516
1 31
YOUTUBE30 STARBUCKS 66,882 81
DELL TECHNOLOGIES
80 BMW 23,138

IA &
28 69,625 23,163
LINKEDIN31 YOUTUBE COMMBANK 81 DELL TECHNOLOGIES
CO M

32 82
73 24 11 65,299 66,882 23,127 23,138

MED
29 49 33
UPS 32 LINKEDIN 63,389 83
MERCEDES-BENZ
65,299 82 COMMBANK 22,798 23,127
PRO

34
COSTCO 33 UPS 60,489 84
RED BULL
63,389 83 MERCEDES-BENZ22,150 22,798
35
TIKTOK 34 COSTCO 60,401 85
FEDEX 21,941
VID

87
$1,015,900 M 60,489 84 RED BULL 22,150
34 36
CHANEL 35 TIKTOK 60,152 86
IKEA 85 FEDEX 21,937
ER

60,401 21,941
37
MARLBORO 57,820 87
NTT 21,565
S

57
36 CHANEL 60,152 86 IKEA 21,937
38
CISCO 37 MARLBORO 56,369 88
VMWARE
57,820 87 NTT 21,505 21,565
91
47
39
SAP 38 CISCO 55,670 89
SONY
56,369 88 VMWARE 21,504 21,505
72 40
QUALCOMM39 SAP 54,739 90
PING
55,670 AN 89 SONY 21,134 21,504
41
AMD 40 QUALCOMM 51,860 91
ALDI
54,739 90 PING AN 21,024 21,134
61
86 62
55 54 42
SALESFORCE
41 AMD 51,570 92
LULULEMON
51,860 91 ALDI 20,616 21,024
51
43
INTUIT 42 SALESFORCE 51,066 93
VODAFONE
51,570 92 LULULEMON 20,429 20,616
64
59
44
ADP 43 INTUIT 50,277 94
PINDUODUO
51,066 93 VODAFONE 20,369 20,429
RE

A
IL 60 45
XFINITY 44 ADP 45,515 95
BUDWEISER 94 PINDUODUO 20,138
T

94
S 50,277 20,369
79
65
71
89
RM
46
TCS 45 XFINITY 44,790 96
NONGFU SPRING
45,515 95 BUDWEISER 19,968 20,138
TF
O 47
HDFC BANK
46 TCS 43,260 97
BANK OF AMERICA
44,790 96 NONGFU SPRING 19,574 19,968
67 A
82 P L 48
INTEL 47 HDFC BANK 42,970 98
HSBC
43,260 97 BANK OF AMERICA19,563 19,574
69 77
C ES 49
DISNEY 48 42,639 99
DHL 19,208
VI INTEL 42,970 98 HSBC 19,563
90
S ER 50
TEXAS INSTRUMENTS 41,205 100
CORONA 19,043
49 DISNEY 99 DHL
97
GY& 42,639 19,208
98 L O 50 TEXAS INSTRUMENTS 41,205 100 CORONA 19,043
NO
FIN CH
ANC E R TE
IAL S SUM
ERVIC
ES CO N

© Kantar 2024 | 17
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GLOBAL BR AND L ANDSCAPE

— EUROPEAN BRANDS OUTPERFORM

BE MEANINGFULLY DIFFERENT
— MEANINGFUL DIFFERENCE CARRIES THE DAY
— CHALLENGER BRANDS CROWD THE FIELD
— ...BUT BRANDS OF ALL SIZES CAN STILL WIN

PREDISPOSE MORE PEOPLE

— BREAKING THROUGH TO STRUGGLING
CONSUMERS
— TOP BRANDS MAKE THE RIGHT CONNECTIONS

BE MORE PRESENT
— EVERY BIT OF PRESENCE HELPS
— A NEW MEDIA MIX

FIND NEW SPACE

— MASTERING MOMENTUM
— THE GREAT AI REPOSITIONING

BE MEANINGFULLY DIFFERENT

MEANINGFUL
GLOBAL BRAND LANDSCAPE
DIFFERENCE
CARRIES THE DAY
EUROPEAN BRANDS OUTPERFORM Two-thirds of the most valuable global brands are highly
Meaningful and Different in consumers’ eyes. That’s
important, because attaining Meaningful Difference is the
Though the US has historically dominated the But when we control for this ‘category effect’, crucial first step in predisposing more people to buy and
Kantar BrandZ Global Top 100 and category we see that European top brands have pay more for your brand’s offerings.
rankings, ultimately strong and valuable brands also done well this year – beating growth
can come from anywhere. Geography is not expectations for their categories through What’s more, this year brands that managed to improve
destiny, and neither is category – though it’s true heritage, innovation, and strong brand equity. their Meaningful Difference saw a 19% brand value
that in any given year, either factor can affect growth advantage – that is, these brands overperformed
brand value growth, whether as boost or drag. significantly versus what might have been expected
This year, for example, many Chinese brands Brand value change based on what categories and regions they hailed from.
faced regulatory, macroeconomic, and stock Removing category effects (2023-2024)
market headwinds – while on the category
side, most big global Tech brands reaped the Proportion of most valuable global brands
benefits of a surge in investor enthusiasm.

Most of the world’s top Tech brands are still

based in the US – and for this reason, America

30
remained the best-performing region in terms
of average brand value growth this year:

Brand value change

Top 100 Most Valuable Brands (2023-2024)

BE MEANINGFULLY DIFFERENT

...BUT BR ANDS O F
BE MEANINGFULLY DIFFERENT
ALL SIZES C AN
STILL WIN
CHALLEN GER BR ANDS Even as challenger brands have re-emerged as a force,

CROWD THE FIELD

large brands have also found ways to grow and improve
consumer relationships. Across the Kantar BrandZ Global
Top 100 and category rankings, it turns out that bigger
brands have actually enjoyed an edge in strengthening
Following a high-pandemic period in which consumers flocked to the their Meaningful Difference.
trusted familiarity of major brands, challenger brands have roared
back across a number of categories. This phenomenon has been
Brands improving Meaningful or Different
clearest to see in FMCG sectors – Food and Beverage, Personal Care –
where even the biggest mass retailers now stock niche and specialist
brands across a variety of price points.

But the rise of challenger brands has become a major story across
nearly all categories, from Automotive (for instance the new Chinese
electric vehicle marques), to business tech (think of all the AI startups
working to overcome the major players’ incumbency advantage).
These challengers have generally staked their claims on some
combination of differentiating innovation, heightened sustainability,
and nimble embrace of next-gen digital marketing strategies.

The upside is with more brands on the pitch these days marketing
themselves effectively, it has become more challenging for any brand
to maintain Meaningful Difference compared to a decade ago.

Percentage of brands with high Meaningful and

Different scores relative to competitors
Base: all brands, all markets, all categories (excl. B2B)

PREDISPOSE MORE PEOPLE PREDISPOSE MORE PEOPLE

BRE AKIN G THRO U GH TOP BR ANDS MAKE THE

TO STRU GGLIN G RIGHT CONNECTIONS
CO NSU MERS Despite increased competition, the brands that make up the Global
Top 100 continue to make strong connections with consumers and
Across all markets and most categories, brands must confront the clients, well outpacing the average brand in measures of Meaningful
challenge of marketing for customers who are struggling financially, or Different and Salient.
who are otherwise reluctant to spend. It’s not just that marketers have
had to adjust their playbooks to account for once-in-a-generation Strong brand equity has the power to unlock all sorts of value-building
cost-of-living and inflation crises. It’s also that many countries’ capabilities for your business – from increasing market penetration to
populations are ageing – and older consumers tend to be tighter with successfully expanding into adjacent spaces. But most immediately,
their spending, whether or not they’re on a fixed income. And then brand equity enhances value by predisposing more people toward
there’s Gen Z, which remains a key target for brand recruitment. a brand. Strong brands predispose more people to buy via Demand
But the complication is that compared to the youth of previous Power and the increased volume share that Demand Power drives.
generations, Gen Z consumers in many markets face diminished job And strong brands predispose people to pay more via Pricing Power.
prospects and more constrained discretionary spending.
Thanks to superior brand equity, the Kantar BrandZ Global Top 100
Beyond the Top 100, we investigated how consumers are responding on average succeeds across both types of predisposition.
to the inflationary pressures and whether their choice of brands
was changing. We found that among those who are struggling the
most, high-priced brands with ‘extra’ Pricing Power have a three-fold
Penetration advantage over those that do not. So, even when times
are difficult and consumers have less to spend, they will still choose
to pay a bit more if they feel it’s worth it.

Average penetration % among ‘struggling’ consumers

Predispose more people to...

Extra Pricing Power

BE MORE PRESENT BE MORE PRESENT

E VERY BIT O F A NE W MED IA MIX

PRESEN CE HELPS These days, brands across a wide variety of categories
have aspirations to become a ‘media brand’ – in other
While Demand Power – predisposing more consumers to choose your words, to get into the business of selling advertisements
brand – remains the primary driver of claimed market share, it is also via their brand assets, and to generate first-party
important for brands to be optimally present in those places and consumer insight data while doing so. Consumer tech
moments where consumers are engaging with their category. brands can be media players, for instance, by selling ad
space on TV home screens. Retail brands can be media
This year, for example, we took a look at top-ranked brands that players too, via selling ads against digital storefront
grew their brand value. And we found that they tend to achieve sales search terms – or by embedding new, dynamic types
volumes in line with what their Demand Power would predict. That’s of LED display advertising in their physical stores. Even
what one would expect for strong brands that are firing on all cylinders. FMCG brands can place ads across their packaging and
distribution infrastructure. What this means is that as
By contrast, this year’s flat or declining brands are more likely to have media buyers, top brands have more variables than ever
actual sales performance that lags behind their Demand Power. This to consider when strategising how to ‘be more present’
suggests that there is room for improvement in how these brands in consumers’ lives. But now, many top brands also have
activate or convert sales. In other words, some declining brands were the opportunity to become media sellers: to diversify
leaving sales on the table by failing to ‘be more present’ – to the tune, their revenues by helping other businesses ‘be more
we found, of nearly two percentage points in claimed market share. present’ via the brand’s assets and audience.

FIND NEW SPACE

MASTERING MOMENTUM
Future Power is a key brand value growth driver for larger brands. FIND NEW SPACE
That’s because Future Power offers a way of quantifying a crucial
factor behind branded business growth in the 21st century. These
days, in order to grow, big brands need to find new spaces to expand
into beyond their original categories. But in order to successfully
move into these new spaces, brands need sufficient momentum –
THE GRE AT AI
in other words, sufficient buy-in from consumers eager to stick with
the brand, not just now but also into the future. REPOSITI O NIN G
By contrast, smaller brands have more room to find growth within
their categories – so they don’t have the same relationship to After generative AI’s breakthrough moment in 2023, 2024 is a year for
Future Power as a driver of growth. (There is also a bigger risk to brands to reposition themselves in the new world ahead. For tech brands,
smaller brands of overextending themselves, as they still have big that means building out infrastructure and refining AI models – with
competitors to manoeuvre around in their current categories.) an eye toward balancing speed, trust, and profitability. And for brands
in other categories, the aim is to prepare the ground for breakthrough
But for bigger brands especially, transcending category boundaries is innovations – whether that’s new autonomous driving features for car
increasingly the name of the game. Which is why so many categories brands, or on-the-fly graphics rendering for entertainment studios.
seem to be blurring these days: Telecom brands trying to branch into AI could also be used to develop more dynamic pricing models, or to
Financial Services, Automotive brands expanding into Apparel… It’s also deliver superior experiences (whether that’s better recommendations,
why more national or regional brands are venturing farther overseas: faster fulfilment, or more responsive customer service).
See the way that Chinese auto brands like BYD are expanding into
Latin America, or how the American bank brand Chase is breaking into And then there’s the realm of brand marketing. Regardless of
Europe. These moves all have a real prospect of success – if the brands category, AI promises to give brands new tools for generating and
behind them can continue to build up their Future Power. testing out creative concepts. And it will also help brands to optimally
deploy their creative via smarter, more adaptive media planning
tools. Not all of these AI innovations will be fully rolled out by year’s
Average Brand Value growth rate end – but this is the year that brands are placing big strategic bets
that could shape the market for years to come.
2023-2024

Brands with above-average penetration

26 — THE MACROECONOMY
OF OPPORTUNITY

28 — THE PIVOTAL BRAND

OPPORTUNITY IN GENERATIVE AI

32 — PARIS 2024 OFFERS BRANDS AN

OLYMPIC-SIZED OPPORTUNITY

35 — GREENWASHING

J. Walker Smith
Knowledge Lead
As brands shape up for the
[email protected] year ahead, three things stand
out – volatility, meaning macro
instability; variability, meaning
market disparities; and viability,
meaning economic prospects.

This year marks an inflection point – a shift away from

the pricing-led growth strategies favoured by many
brands in the first part of this decade. Following the
pandemic, much of the organic growth achieved by
top global fast moving consumer goods brands has
come from higher prices rather than from increased unit
volume. Some firms have grown only by offsetting unit
volume declines with hefty price increases.

THE The limits of this growth strategy have been reached.

Consumers feel tapped out. Retailers are pushing back.

M AC RO EC O N O M Y
Investors are looking harder at fundamentals. As a result,
brands must reset and reinvent their value propositions,
and they must do so in the macroeconomic context of

O F O P P O RT U N I T Y volatility, variability, and viability.

Volatility Variability Viability

World Uncertainty Index
Since the turn of the 21st century, the marketplace has GDP weighted average Fallout from the pandemic has eroded a core In January, the World Bank headlined its Global Economic
undergone a stark turn from relative stability to high presumption of the modern economic era: that Prospects press release with the doleful declaration,
volatility. The World Uncertainty Index, shown on the globalisation will be a unifying force synchronising ‘Global Economy Set for Weakest Half-Decade
right is calculated by researchers who use Economist market economies for the better. Instead, supply chain Performance in 30 Years’. It projects 2024 global growth
Intelligence Unit data to gauge the level of business- snarls, extreme weather events, regulatory disparities at 2.4%, down from 2.6% in 2023 and three-quarters of
climate uncertainty in countries around the world. and geopolitical tensions (including an uptick in armed a percentage point below the average of the 2010s. For
Results across the 143 countries are analysed and then conflicts) have frayed the ties of globalisation. All of this advanced economies, the growth forecast is a mere 1.2%.
compiled into a global index. has left the global economy more exposed to variable
market conditions and divergent economic agendas. Even worse, the World Bank predicts that people in
As can be seen, the most noteworthy shift lies in 25% of developing countries and 40% of low-income
the increase in the volatility of uncertainty from the 2024 promises to continue this dynamic. Over 70 national countries will be worse off by year-end than they were
2000s to today, rather than in the pitch of the overall elections are taking place this year, affecting two billion pre-pandemic in 2019.
upward trendline. The swings between highs and lows people and many of the world’s biggest economies.
have increased substantially since the year 2000, 1990 1993 1996 1999 2002 2005 2008 2011 2014 2017 2020 2023 Historically, election years spark restrictive trade and The US is expected to remain strong enough to forestall an
both in frequency and in range. In other words, global immigration policies designed to garner votes. This outright global recession. But the Eurozone, UK, China, Japan
uncertainty is bouncing around from extreme highs www.worlduncertaintyindex.com
political calculus is sure to exacerbate today’s trade and emerging markets will struggle. Globally, inflation and
to extreme lows – and doing so often. This is a tough (Text-mining of Economist Intelligence Unit country reports for 143 countries; GDP weighted) tensions at a time when global trade in goods remains unemployment – though declining – will remain high.
environment for brand planning and operations. well below its peak, notwithstanding a solid recovery
from the pandemic. Global digital trade is booming, It’s not all gloom, however. There are some encouraging
Contrast this dynamic to the period of relative stability but it remains a small percent of global GDP. structural changes emerging on the horizon. For example,
from the mid-1980s to the financial crisis. This era is now AI could boost global GDP significantly through greater
known as the Great Moderation, during which disruptive How brands can prepare: Operate flexibly by efficiencies, fewer errors, less waste and better real-time
volatility was less frequent and less erratic. This was benchmarking brands relative to local contingencies, decision making. And Goldman Sachs estimates that GLP-1
the period in which most of today’s operating models while also stockpiling a reserve of resources and weight loss drugs could boost US GDP by a percentage point.
were developed, raising the question of fitness for a goodwill against local shocks.
marketplace of high volatility. But other structural changes are daunting. The lowest-
spending age cohort, older consumers, is the fastest-
How brands can prepare: Invest in a strong, durable growing worldwide. Lower fertility rates and delayed
brand asset that does not seesaw unsteadily by marriages mean slower household formation, and will
over-reacting to macro volatility. result in age pyramids featuring a smaller percentage of
consumers of prime spending age. Not to mention the
impact of climate change on infrastructure, financial
stability, agricultural resiliency and population migration.

How brands can prepare: Double down on demand

fundamentals – penetration, visibility, differentiation –
to secure a bulwark against economic jeopardies.

Ultimately, whether in good times or bad, brands must be

in the business of adding value, never subtracting. In the
macroeconomy to come, this is more important than ever.

Mar tin Guerrieria

Head of Kantar BrandZ
AI is seemingly everywhere right now. Everyone is I’m sure there’s equal excitement in the boardrooms of
the owners of these increasingly impressive generative AI
[email protected]
talking about it – the media, the public, governments, platforms as development teams assemble and innovate
at warp speed, desperate to maintain an advantage and
and businesses large and small. In boardrooms remain at the vanguard of innovation. These CEOs, CFOs,
and CTOs will be just as excited as those outside of the AI
around the globe, the ‘AI conversation’ continues to bubble, but the C-suite member that truly holds the key
intensify, with all corners of the C-suite scrambling to success for these businesses is none of these – it’s the
CMO (assuming they even have one!).
to make sense of the imminent revolution. While As with many brands, perception of capability in the AI
CEOs frame strategies and growth opportunities, space can be just as important as actual capability, at
least when framing a first encounter against an arrayed
CFOs obsess over potential efficiencies, and CTOs backdrop of seemingly identical offers. Actually delivering
on these perceptions is still crucial of course – but in
rub their hands with excitement at the multitude of commodifying spaces, being the first to secure an initial
possibilities to drive generational change. interaction can prove crucial to adoption. That is where
the power of brand can play such an important role.

We’re in the midst of a fast-accelerating arms race of

THE PIVOTAL BRAND

technical capabilities, many of which remain barely
sensical to the still inexperienced ‘end user’ in terms of
how they could be applied to their lives. But what if these

OPP ORTUNIT Y IN
competencies could be better delivered in a way that
curates, frames and personalises in an additive way – the

GENER ATIVE AI
better to attract users and, most importantly, support
these users’ ongoing interest and attention? Generative
AI, welcome to the world of creating brands – we’ve been
expecting you.

A fast-evolving brand landscape ChatGPT’s current dominance of the user base aside, what our
Brand equity summary study shows is that very few competitors come close, even in brand
As the scene continues to commoditise, this is likely to equity terms. Currently, Microsoft, Bing and Adobe are the only other
become the critical battleground in influencing choice, players viewed as reasonably Meaningfully Different by users (i.e.

DIFFERENT
usage, and preference. It’s time to move from the solely having strong brand equity). And even then, compared to ChatGPT,
Chat GPT these two lag significantly in terms of their comparative Salience.
technical to the identifiably personable, and marketing
has a very important role to play in transforming
technological, algorithmic wizardry into a ‘living and What’s also striking is the lack of perceived differentiation between
breathing’ brand. The battle for brand in the world of Adobe brands in this nascent space. While the ranges of Meaningfulness
artificial intelligence has very much begun. (a combination of relative relevance and depth of emotional
Microsoft Bing
connection) and Salience (coming easily to mind) are relatively broad
Clearly the AI arena comprises a complex language ChatSpot Gemini across brands, users simply do not see a great deal of Difference
of widely different capabilities, from conversational between each brand. This suggests two possibilities: that these tools
Dall-E Personal AI
applications to modified search engines – and including NightCafe current capabilities are perceived to be very similar and/or that they
InVideo MEANINGFUL
both corporate brands and foundational models. To Jasper are not yet well understood.
Filmora
better reflect and understand this diversity within the FlexClip
DreamStudio
generative AI brand landscape, Kantar BrandZ conducted So, if these tools are struggling to land and differentiate their
Starryai Lumen5
a study amongst 800 consumer users of AI tools in the technological advantages, how else could they set themselves apart?
US and in India. SALIENCE = Size of bubble As the reach of this technology proliferates, how could they attract
influential early adopters and encourage potentially pivotal first-time
This study applied Kantar’s Meaningful Different and Source: Kantar BrandZ Gen AI brands - US/India 2024 usage among the masses?
Salient (MDS) framework to 15 such tools found in both
markets. The intention was to reflect the current reality
of how these tools are described, understood and used
by consumers – with the caveat that this is a fast-moving The opportunity for generative AI brands
space in which product names are already evolving. to better differentiate
(For instance, since this data was collected, Google’s
Bard has subsequently been relaunched as Gemini).

What did we find? Firstly, that OpenAI’s ChatGPT is the

Meaningful -24 30
current dominant player in both territories, and has
already established strong brand equity since its initial A much more limited range
of perceived Difference
release at the end of 2022. This finding matches the fact between brands
that ChatGPT is reportedly on track to bring in $2 billion
Different -8 7
in annual sales after launching its first subscription-based
product. It also amassed a monumental 100 million
users within two months of initial release (by contrast,
it took Facebook and Netflix four years and 10 years,
Salient -17 23
respectively, to reach the same number of active users).

Source: Kantar BrandZ Gen AI brands - US/India 2024

One way is by communicating differentiating brand

associations aside from the purely technical. An
Brands with clear personality associations
increasingly common route for positioning these services KEY SUMMARY POINTS
is personification: creating a signature ‘humanising

01
presence’ that serves as a means of attraction,
accessibility and curation of capability.

‘Humanising’ computing has long been a means of

normalising and demystifying the otherwise impossibly Generative AI is developing at pace,
technical. One of the original first movers in AI, GENERATIVE but remains a long way from developed
ALL BRANDS
IBM’s Watson, was introduced way back in 2007 as a AI BRANDS
1 in 4 in terms of brand and marketing strategy
means of competing against human contestants on 1 in 10
the US gameshow Jeopardy! The increasing prevalence and investment.
of personified virtual assistants is another example of
personification, as is the ability of numerous generative
AIs to literally speak to users in a range of global and
regional accents.

However, judging by these findings, it seems the Source: Kantar BrandZ Global Database
02
goal of Meaningful personification remains a long way The role of brand is currently a hugely
from being fulfilled for many. It is certainly yet to filter underestimated opportunity for generative
through to users in terms of additive and differentiating In line with this finding, many of these tools have yet to
brand associations. be linked with high-quality advertising content: In our AI tools as a means of connecting with and
study, none are currently well defined in terms of their guiding everyday consumers.
To be fair, these associations are hard to achieve for any perceived strength in this area. Rather, their current
brand – among the thousands of brands in the Kantar strengths lie in perceived technical capabilities and
BrandZ database, only one in four have successfully convenience alone.

03
established clear personality associations. Within
generative AI tools, this proportion falls dramatically to Enter the CMO, who should be charged with leading
just one in 10 brands – a clear opportunity to establish concerted efforts to identify suitable non-technical
and press home a differentiating advantage. associations for the brand, and potentially combine them Clearly defining and communicating an
with differentiating technical advantages. And who should
then be empowered to invest in communicating these additive emotional positioning offers great
associations through high-quality content. Doing so is potential to boost adoption and growth.
likely to pay a differentiation dividend, supporting the
leap from ‘technology platform’ to ‘attractive, engaging
and useful brand’. Less artificial intelligence, more
common-sense marketing, if you will. Game on.

© Kantar 2024 | 30
INDISPENSABLE AI
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application of human data. It enables even deeper understanding of how
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kantar.com/campaigns/artificial-intelligence

Ellie Thorpe
Research Direc tor,
Kantar BrandZ
The Summer Olympic Games
[email protected] are always a major marketing
moment thanks to the way
they combine elite sporting
performance with entertainment,
culture and community.

But the pandemic momentarily dulled their shine in 2021,

as health restrictions led to a more muted outing in
Tokyo. Now, however, the Olympics are back in full force
– with Paris 2024 set to be the biggest global sporting
event since the 2016 Rio Games.

This year’s Olympics present a huge opportunity for brands,

PARIS 2024 OFFERS

perhaps more so than ever before. That’s because there
are more ways than ever to reach engaged Olympics
audiences. Official sponsorship (of the Games themselves

BR ANDS AN
or of national teams) still remains the surest route to
make a splash – and to that point, $1 billion in sponsorship

O LY M P I C- S I Z E D
revenue has already been secured. But in addition to
these marquee sponsorships, the International Olympics
Commission has relaxed rules governing individual

O P P O RT U N I T Y
athletes’ ability to endorse brands during the Games.

As a result, we can expect to see more direct social

media interaction between athletes, brands and fans via
social platforms in Paris – including on TikTok, which was
still a more niche curiosity in many markets back in the
days of the 2021 and 2022 Games.

Kantar’s Sports Monitor Athlete Reputation Tracker

indicates that Olympic athletes, past and present,
remain highly desirable options for brands looking for
sponsorship opportunities – with Michael Phelps, Simone
Biles, Katie Ledecky and Suni Lee all making the Top 50
list. And new names are sure to join their ranks during
this summer’s fortnight, to the benefit of brands agile
enough to link up with Paris’s rising stars.

Invest in truly global reach More than visibility

Louis Vuitton brand strengths Nike brand strengths
As mentioned, some of the world’s fittest brands have Difference vs the average brand It’s not just official partners that can benefit from Olympic Difference vs the average brand
already lined up to partner with the Olympics. With all excitement. Well-timed campaigns across unofficial channels
eyes on the host nation, French brands in particular have can just as easily engage a global audience. Take the
a rare opportunity to showcase their stories on the global epic battle between Adidas and Nike around the London
stage. Official partners includes the crème de la crème Games in 2012. While Adidas had the official partnership
of French brands, many of which are ranked in Kantar contract, Nike’s ‘ambush’ caused a stir in the industry
BrandZ’s Most Valuable French Brands: Louis Vuitton, Distinctive look and feel +19 – but served up some fantastic results for the brand. Great advertising +29
Dior, Air France, Orange, Decathlon, Carrefour, EDF, FDJ Nike swerved around the London Olympic advertising
and Danone. restrictions by onboarding 400 athletes as ambassadors
to compete in their shoes, and by filming in creative
LVMH is one of the most notable corporate names at Leading the way +13 locations like London, Ohio and Little London in Jamaica. Leading the way +25
the Games, and will be present in a variety of ways:
think medals designed by its Parisian jewellery house, That year, 37% of people recognised Nike as an Olympic
Chaumet, and hospitality hosted by Moët and Chandon. sponsor, compared to 24% for official sponsor Adidas.
So, what’s in it for LVMH? The prestigious luxury house And Nike gained 57,000 followers on social media,
has an opportunity to strengthen its corporate reputation compared to 12,000 for Adidas. Ultimately, this success
among a broad audience and predispose more people to came down to creative quality. In 2012, Nike’s ‘Find Your
think positively about its brands. At a time of challenging Greatness’ campaign (which also featured ordinary
cost-of-living and inflationary pressures, this partnership people pursuing their own goals) had huge emotive
could go a long way in reminding people why LMVH impact with sports fans, and proved that all brands
brands are worth paying for. can by part of the Olympics conversation if they can
communicate in a Meaningful way.
Louis Vuitton’s presence at the Games shouldn’t come
as a surprise. According to Kantar BrandZ research, the A clear emotional connection sets Nike up for success
luxury brand is best known for its distinctive look and time and again when it comes to creative quality. It’s
feel and its sense of leadership, qualities which lend about more than merely driving awareness. Instead,
themselves well to collaborations and sponsorships. Louis Nike uses emotive and recognisable brand storytelling to
Vuitton’s striking monographic pattern is recognisable in build Meaningfully Different association – building long-
any context, from the basketball court to the metaverse, term predisposition rather than mere short-term sales.
and its sense of innovative leadership aligns with sporting Today, Kantar’s LINK database shows that ads evoking
values of surpassing limits and aiming for perfection. strong emotions have four times the impact and are
much more likely to drive brand equity.
The brand also has a recent history of sports and athlete
partnerships, including collaborations with the NBA under
Virgil Abloh and ventures into esports with Riot Games.
Louis Vuitton has also long produced its signature trophy
cases for occasions like the America’s Cup, FIFA World
Cup, and the Ballon d’Or.

Balance consistency with authenticity With an exciting year ahead, all brands have an opportunity
Corona brand strengths to pick up a podium finish. Ultimately, the winners will
To truly reap the rewards of a presence in (or around) Difference vs the average brand be crowned not by their levels of investment, but by their
Paris, brands need to ensure they are engaging ability to build Meaningfully Different connections.
consumers in authentic and relevant ways that are
aligned with the brand’s positioning and values. This
takes a careful balancing act of tailoring the message
to suit the occasion, but not straying too far from
IMPLICATIONS FOR BRANDS
what consumers know you for. Makes lives better +20

01
One brand with a track record for getting this right is
Corona. From sports events to music festivals – and with
a real focus on sustainability partnerships and initiatives Great advertising +18
– Corona is able to engage a range of audiences whilst Invest in global reach. Take opportunities
maintaining its consistent brand positioning. In 2024,
to predispose more people by investing
Corona will become the first beer brand to gain status as an
official Olympic partner via the non-alcoholic Corona Cero. in exposures and experiences to build
positive perceptions.
Reflecting the current health and wellness trends driving
innovation in the alcohol sector, Corona Cero’s presence will
drive category perceptions of beer as a drink of moderation

02
and choice – all while building awareness for the new
product. Here, we don’t expect to see Corona emulating
those messages of greatness and ambition we get from a
brand like Nike; instead, Corona’s ‘This is Living’ positioning
Build Meaningful Difference for
fits perfectly with everyday sports fans enjoying all the
moments this ‘summer of sport’ has to offer. lasting impact. Don’t treat this as a simple
promotion – instead, optimise your creative.
A winning combination
Kantar’s Meaningful Different

03
and Salient framework
The strongest brands are not just those that come to
mind quickly. They are also Meaningful to people,
meeting their needs in functional and emotional
ways and offering something Different than others.
Balance consistency of positioning
These foundational qualities should consistently
be at the heart of communication and
with authenticity of messaging.
partnership strategies for brands to see Understand how you can connect with
the best return on their investment.
audiences in a way that fits with your brand.

Karine Trinquetel
Global Head of O f fer,
Sustainable Transformation
Prac tice
In recent years, the fear of being
[email protected] perceived as a ‘greenwasher’
has complicated brands’
sustainability efforts – sometimes
even dooming them before they
Jonathan Hall launch, and executives judge
Managing Par tner,
Sustainable Transformation sustainability campaigns as too
Prac tice risky a proposition.
[email protected]
It would be nice to say that such fears were completely
overblown or unfounded. But the truth is more
complicated. In Kantar’s latest global Sustainability
Sector Index, we asked people if they had seen or heard
false or misleading information about sustainable actions
taken by brands. Remarkably, 52% said they had.

How does this look by cohort? What the data tell us

is that the younger the cohort, the more acute the
perceptions of greenwashing: 35% were 55–65-year-olds,
rising to 65% among 18–24-year-olds. As Gen Z and
younger Millennials become the dominant economic
force, this erosion of trust will become disruptive.

G R E E N WA S H I N G
Furthermore, we’ve seen that the more that people
think brands are greenwashing, the more they drop them
out of their consideration set. It is a short step from
mistrust to rejection.

A way forward Integrity in action

But let’s put things into perspective. What we’re really Integrity is about having clear commitments. In the
talking about is trust: A ‘greenwashing’ brand is a brand sustainability sphere, those commitments need to be
that asks consumers to trust them on sustainability and credibly connected to your category, and relevant to
is then perceived to have broken that trust. the here and now.
Integrity Identification
Ultimately though, does it really make sense that just For example, a 2022 Lufthansa campaign claimed, in
because one brand in a category becomes less trusted, Inspiring vague terms, that the airline was protecting the world’s
that all brands in that category should then give up on Trust future – as portrayed by imagery of undersea wildlife.
successfully becoming trusted themselves?
The problem is that such an image is clearly in dissonance
Brands shouldn’t be afraid to pursue sustainability just with people’s beliefs (they wouldn’t directly associate
because the term ‘greenwashing’ now exists. All that’s plane travel with ocean health). To substantiate, the brand
changed, really, is that brands now know they must Inclusion should raise awareness of the actions it is taking – or it will
pursue sustainability in the right way. be perceived as greenwashing.

So, how can brands take steps to avoid greenwashing Of course, climate pledges of the type that became so
and inspire trust? Kantar’s globally verified model of popular this past decade – ‘carbon neutral by 2050’
Inspiring Trust is based around the ‘3Is’ – the three and so on – do have implications for a wide variety of
principles for what trust means today. natural habitats, from pine forests to coral reefs.

The first ‘I’, Integrity, is about having clear commitments: But the problem is that, as communicated, brands’
doing what you say you’re going to do and communicating sustainability remits have become too broad to really
your actions with honesty. Integrity is still the foundation connect with consumers – both geographically and in
of trust, but in today’s post-truth world, people find it terms of timespan.
difficult to assess integrity, so it’s not enough on its own.
People feel, for instance, that 2050 commitments are so
Identification – a connection at a human level – is far away that they’re not real commitments. They want
one of the most powerful sources of trust in times of to see brand action now, via more tangible, actionable
disruption and uncertainty. Behavioural science tells us commitments. So, we need to create intermediary goals
that we’re hardwired to identify with and trust those and provide regular updates.
people with a shared set of values and goals.
Language, too, needs to become more tangible. Clearly,
Finally, brands should embody the principle of Inclusion. it’s unacceptable to lie or over-claim, but vague terms
We know that unfamiliarity is a barrier to a closer brand- are also problematic. People, and increasingly regulators,
consumer connection, so we need to create closeness in two will not tolerate ‘carbon neutral’. Always try to be
ways: (1) make everyone feel that they belong; and (2) get straightforward, and support claims with credible
people invested in our actions. Successful brands will make evidence and clear comparisons. Imagery, too, should
people feel empowered to make truly better choices. avoid general cliches in favour of more specificity: A photo
of your product nestled in a green field will not suffice.

Identification in action Inclusion in action

The first step toward winning on Identification is to What Inclusion seeks to build is a sense of belonging.
understand the challenge you’re up against. Assume It’s about finding ways to bring consumers into your
cynicism: 67% of people surveyed say they worry brands sustainability programmes, rather than holding them
are involved in social issues just for commercial reasons. at arm’s length.

Still, although people will be critical, that doesn’t mean Today, only 37% of people agree that brands do a good
you shouldn’t talk about your actions. Today, 57% of job of representing people similar to themselves or their
people feel that it is really hard to tell which products are community. This fact of course has implications for
good or bad ethically or for the environment – which is a diversity, equity and inclusion efforts – but it also ties
genuine source of frustration. into pricing strategy.

But it’s a frustration that people want solved. Consumers Consider that 68% of people currently believe that
want to better understand their choices, and your brand products that are better for the environment and society
needs to tell its story in a way that helps them do that. are more expensive: in other words, that sustainability
If you don’t, the default perception of your brand will is a luxury. Such beliefs can lead to ‘greenwashing’
likely be poor. suspicions that brands are ultimately using sustainability
as a profit driver, rather than really embracing the call
The best sustainability stories are authentic, honest and to help people live more sustainably.
informative. To be authentic, you need to commit to
doing more than making symbolic, time-limited gestures. Inclusion, then, can take the form of making it easier
These days, for example, brands that change their logos for people to make better choices and ultimately make
to rainbow colours during Pride, but don’t do anything to a difference. Today, people are sceptical about whether
support this community the rest of the year, will attract their actions are moving the needle: Only 39% say they
negative consequences. clearly understand how their shopping behaviours can
contribute to positive environmental or social change.
What succeeds, by contrast, are messages that are
simple yet direct – and even somewhat humble. Every Third-party certifications can help allay some of this
business and brand is in transition, but few have the confusion: 61% of people want these certifications to help
courage to be transparent about it. You don’t need to guide their decision making. In other words, don’t make
have all the answers: Be honest about the journey you’re up your own logos – it adds to the confusion. Work with
on. Consumers will thank you for it. recognised players.

From there, you should make it clear how your efforts

empower people to make better choices while avoiding
the suggestion that you’re putting responsibility for
sustainability squarely on the shoulders of individuals.
Our data show that people reject brands that don’t
accept responsibility.

Instead, it’s about the collective journey – a journey that

can only be made possible by trust.

© Kantar 2024 | 37
THE KANTAR
SUSTAINABLE
TRANSFORMATION
PRACTICE
Kantar’s Sustainable Transformation Practice
helps you identify and realise the opportunity
in sustainability across your business and
around the world.

There’s a huge opportunity for brands in delivering products and services that
are better for people and better for the planet. Our data shows that consumers
want to take action and they expect brands to step up.

We have a unique understanding of brands, people and social and environmental

issues. Last year we partnered with more than 400 of the world’s largest brands,
in 50 markets, helping deliver transformation in every sector.

We act as a catalyst for change, provoke new thinking and enable you to
unlock new opportunities.

We want to partner with you on your sustainable transformation journey.

And help you shape the brands of tomorrow.

Find out how we can help you make a difference

kantar.com/sustainability

40 — TOP 100 GLOBAL BRANDS

42 — TOP 10 BRANDS

44 — NEWCOMERS AND
RE-ENTRANTS

46 — TOP RISERS

48 — FROM MARKETING METRIC TO

BOARDROOM ESSENTIAL

Itallics denote THOUGHT LEADERSHIP features

Rank Brand Brand Value % Brand Value Category Rank Market of Rank Brand Brand Value % Brand Value Category Rank Market of
(US$M) Change vs 2023 change Origin (US$M) Change vs 2023 change Origin

1 APPLE 1,015,900 15% Consumer Technology and Services Platforms 0 US 26 TESLA 71,910 6% Automotive -1 US

2 GOOGLE 753,474 30% Media and Entertainment 0 US 27 NIKE 71,616 -4% Apparel -6 US

3 MICROSOFT 712,883 42% Business Technology and Services Platforms 0 US 28 ALIBABA4 69,946 -24% Retail -14 China

4 AMAZON1 576,622 23% Retail 0 US 29 WALMART 69,700 16% Retail -1 US

5 MCDONALD’S 221,902 16% Fast Food 0 US 30 STARBUCKS 69,625 13% Fast Food -3 US

6 NVIDIA 201,840 178% Business Technology and Services Platforms 18 US 31 YOUTUBE 66,882 26% Media and Entertainment 3 US

7 VISA 188,929 12% Financial Services -1 US 32 LINKEDIN 65,299 35% Media and Entertainment 5 US

8 FACEBOOK 166,751 79% Media and Entertainment 4 US 33 UPS 63,389 -14% Logistics -10 US

9 ORACLE 145,498 58% Business Technology and Services Platforms 4 US 34 COSTCO 60,489 13% Retail -1 US

10 TENCENT2 135,215 -4% Media and Entertainment -3 China 35 TIKTOK 60,401 36% Media and Entertainment 6 China

11 MASTERCARD 134,251 21% Financial Services -2 US 36 CHANEL 60,152 8% Luxury -5 France

12 LOUIS VUITTON 129,857 4% Luxury -4 France 37 MARLBORO 57,820 0% Tobacco -7 US

13 INSTAGRAM 113,916 93% Media and Entertainment 16 US 38 CISCO 56,369 20% Business Technology and Services Platforms 0 US

14 ARAMCO 107,722 2% Energy -3 Saudi Arabia 39 SAP 55,670 60% Business Technology and Services Platforms 9 Germany

15 COCA-COLA3 106,453 0% Food and Beverages -5 US 40 QUALCOMM 54,739 1% Business Technology and Services Platforms -8 US

16 IBM 98,636 13% Business Technology and Services Platforms 1 US 41 AMD 51,860 53% Business Technology and Services Platforms 9 US

17 HERMÈS 93,676 23% Luxury 2 France 42 SALESFORCE 51,570 49% Business Technology and Services Platforms 7 US

18 MOUTAI 85,565 -2% Alcohol 0 China 43 INTUIT 51,066 32% Business Technology and Services Platforms 1 US

19 ADOBE 84,821 66% Business Technology and Services Platforms 16 US 44 ADP 50,277 N/A Business Technology and Services Platforms N/A US

20 ACCENTURE 81,935 11% Business Technology and Services Platforms 2 US 45 XFINITY 45,515 3% Telecom Providers -5 US

21 VERIZON 81,473 -8% Telecom Providers -5 US 46 TATA CONSULTANCY SERVICES 44,790 7% Business Technology and Services Platforms -4 India

22 AT&T 76,452 -14% Telecom Providers -7 US 47 HDFC BANK5 43,260 N/A Financial Services N/A India

23 NETFLIX 74,919 51% Media and Entertainment 13 US 48 INTEL 42,970 29% Business Technology and Services Platforms 4 US

24 THE HOME DEPOT 74,712 0% Retail -4 US 49 DISNEY 42,639 -9% Media and Entertainment -10 US

25 TELEKOM/T-MOBILE 73,516 13% Telecom Providers 1 Germany 50 TEXAS INSTRUMENTS 41,205 0% Business Technology and Services Platforms -7 US

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ). 1Brand Value of Amazon includes Amazon Music, Amazon Prime Video, Amazon Web Services. 2Brand Value of Tencent includes QQ, WeChat, Tencent Music,
WeSing, WeChat Pay, WeBank, v.qq.com, Tencent Cloud, Tencent Brand Value derives from both Media and Entertainment and Business Technology & Services Platforms. 3Brand Value of Coca-Cola includes Lights and Diets.
4
Brand Value of Alibaba includes Alibaba Cloud, Ant Financial, Aliexpress, Freshhema, Taobao, Tmall. 5Brand Value is restated. © Kantar 2024 | 40
2024 MOST VALUABLE GLOBAL BRANDS

Rank Brand Brand Value % Brand Value Category Rank Market of Rank Brand Brand Value % Brand Value Category Rank Market of
(US$M) Change vs 2023 change Origin (US$M) Change vs 2023 change Origin

51 SAMSUNG 40,074 24% Consumer Technology and Services Platforms 3 South Korea 76 GUCCI 23,820 -9% Luxury -11 Italy

52 SPECTRUM 39,933 7% Telecom Providers -6 US 77 TD 23,747 -9% Financial Services -10 Canada

53 SERVICENOW 39,759 N/A Business Technology and Services Platforms N/A US 78 EXXONMOBIL 23,528 7% Energy 1 US

54 XBOX 39,722 31% Consumer Technology and Services Platforms 6 US 79 PAYPAL 23,516 -22% Financial Services -18 US

55 AMERICAN EXPRESS 39,720 7% Financial Services -8 US 80 BMW 23,163 11% Automotive 7 Germany

56 L’ORÉAL PARIS 39,510 4% Personal Care -11 France 81 DELL TECHNOLOGIES 23,138 41% Business Technology and Services Platforms N/A US

57 MERCADO LIBRE6 32,831 41% Retail 15 Argentina 82 COMMBANK 23,127 5% Financial Services -4 Australia

58 HAIER 32,347 6% IoT Ecosystem 1 China 83 MERCEDES-BENZ 22,798 -5% Automotive -12 Germany

59 J.P. MORGAN 32,243 27% Financial Services 9 US 84 RED BULL7 22,150 19% Food and Beverages 9 Austria

60 UNITEDHEALTHCARE 31,803 3% Financial Services -3 US 85 FEDEX 21,941 20% Logistics 12 US

61 UBER 31,377 71% Consumer Technology and Services Platforms 35 US 86 IKEA 21,937 4% Retail 0 Sweden

62 CHASE 31,328 40% Financial Services 13 US 87 NTT 21,565 1% Telecom Providers -3 Japan

63 CHINA MOBILE 31,017 34% Telecom Providers 10 China 88 VMWARE 21,505 N/A Business Technology and Services Platforms N/A US

64 RBC 31,000 -8% Financial Services -13 Canada 89 SONY 21,504 21% Consumer Technology and Services Platforms 10 Japan

65 WELLS FARGO 30,855 -5% Financial Services -12 US 90 PING AN 21,134 0% Financial Services -5 China

66 TOYOTA 30,243 6% Automotive -4 Japan 91 ALDI 21,024 22% Retail N/A Germany

67 ICBC 27,734 9% Financial Services 2 China 92 LULULEMON 20,616 24% Apparel N/A Canada

68 SIEMENS 27,330 23% Conglomerate 9 Germany 93 VODAFONE 20,429 -24% Telecom Providers -30 UK

69 BCA 27,152 20% Financial Services 5 Indonesia 94 PINDUODUO 20,369 61% Retail N/A China

70 ZARA 27,101 47% Apparel 24 Spain 95 BUDWEISER8 20,138 1% Alcohol -7 US

71 HUAWEI 26,670 -14% Consumer Technology and Services Platforms -13 China 96 NONGFU SPRING 19,968 -8% Food and Beverages -15 China

72 LOWE’S 26,612 24% Retail 11 US 97 BANK OF AMERICA 19,574 -9% Financial Services -15 US

73 AIRTEL 25,263 13% Telecom Providers 3 India 98 HSBC 19,563 17% Financial Services N/A UK

74 INFOSYS 24,686 -6% Business Technology and Services Platforms -8 India 99 DHL 19,208 3% Logistics -7 Germany

75 KFC 24,640 12% Fast Food 5 US 100 CORONA5 19,043 N/A Alcohol N/A Mexico

Source: 6Brand Value of Mercado Libre includes Mercado Pago. 7Brand Value of Red Bull includes sugar-free and Cola. 8Brand Value of Budweiser includes Bud Light.

APPLE $1,015,900
BRAND VALUE (US$M)

GOOGLE $753,474

TOP 10 BR ANDS
MICROSOFT $712,883

AMAZON
The top five most valuable global brands
1 remained unchanged this year, with Apple
$576,622
still holding fast at number one – but there

MCDONALD’S
was more turnover in slots six through to 10.
$221,902

NVIDIA $201,840

VISA $188,929

FACEBOOK $166,751

ORACLE $145,498

TENCENT 2
$135,215

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ). 1Brand Value of Amazon includes Amazon Music, Amazon Prime Video and Amazon Web Services.
2
Brand Value of Tencent includes QQ, WeChat, Tencent Music ,WeSing, WeChat Pay, WeBank, v.qq.com, Tencent Cloud. Tencent Brand Value derives from both Media and Entertainment and Business Technology & Services Platforms

THE GLOBAL TOP 10

THE BIGGEST OF THE BIG RE ACH NE W HEIGHTS

The biggest brands in the world rebounded Apple, for instance, has made a huge In the 2024 Global Top 100, the Top 10 is worth
strongly this year, as nine of this year’s push into services. Google has introduced almost as much as the remaining 90
Global Top 10 brands increased their value. innovative, AI-powered software tools like
‘circle to search’ and smart retouching. Top 11 – 100 Top 10
The group is once again led by Apple, which Microsoft has become a leader in AI for
earned the title of the world’s most valuable enterprise, while Amazon has stood up
brand for the third straight year. Apple’s brand a major digital advertising business and
value grew 15%, helping the US consumer McDonald’s has become a delivery-first
tech giant to regain and surpass its 2022 brand. These are moves every bit as disruptive 100%
brand value (following a 2023 that saw tech as the ones made by the ‘challenger brands’
valuations decline across the board). nipping at the Top 10’s heels. 90%

This year, Apple has not only surpassed its Elsewhere in the Top 10, enthusiasm over AI 80%

% Contribution to total T100 brand value

previous brand value high-water mark – it (and a return to greater profitability) has
has also become the first company in Kantar breathed new life into Facebook and Oracle, 70%
BrandZ history to cross the $1 trillion mark for both in the uppermost tier of the global
total brand valuation. Meanwhile, the other rankings. And that same enthusiasm over 60%
members of the top five – Google, Microsoft, AI has positively turbocharged the rise of
Amazon, and McDonald’s – all reprised their NVIDIA, this year’s top riser and sixth most 50%
2023 placements. valuable brand.
40%
Within this elite group, Microsoft posted the Overall, the clear trend in the Kantar BrandZ
highest year-on-year brand value growth, at rankings has been for the big to get bigger – 30%
42% – while all other brands in the top five and in particular, for value to become more
posted double-digit growth. Even as they and more concentrated in the Most Valuable 20%
continue to grow bigger and bigger, none Brands. This year, the Top 10 is worth 50% of
of these brands have rested on their laurels. the Global Top 100 overall, capturing the same 10%
Instead, they have worked hard to predispose combined value (north of $4 trillion) as the
more consumers, become more present, and rest of the world’s top brands put together. 0
expand into new spaces – the upside being 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
that every one of the top five now look very
different than they did a half-decade ago.

ADP $50,277
BRAND VALUE (US$M)

NEWCOMERS
SERVICENOW $39,759
& RE-ENTR ANTS
DELL TECHNOLOGIES $23,138
Nine Newcomers and Re-Entrants join the

VMWARE
Kantar BrandZ Global Top 100.
$21,505

ALDI $21,024

LULULEMON $20,616

PINDUODUO $20,369

HSBC $19,563

CORONA *
Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ). *Brand Value is restated
$19,043

NEWCOMERS AND RE-ENTR ANTS

ADP LE ADS THE CL ASS OF 2024

This year, the Kantar BrandZ Global Top 100 This year’s Re-Entrants also include German TO P 100 NE WCO MERS AND RE-ENTR ANTS
features five brands making their rankings discount supermarket Aldi and China’s
debut, as well as four brands re-joining deal-focused online retailer Pinduoduo –
after a hiatus. both examples of how more budget-friendly Five brands have entered the Top 100
consumer brands are finding success. Mexico’s for the first time in 2024
Four of these nine brands belong to Corona also fits this trend in the sense that
the Business Technology and Services beer brands fared better than liquor brands
Platforms category: ADP, ServiceNow, Dell in this year’s valuations – in part because of
Technologies, and VMware. Three of these beer’s more democratic positioning. 44 Business Technology & Services Platforms ADP 50,277
brands are Newcomers, entering the Global
Top 100 for the first time. The fourth, Dell On the other end of the price spectrum, 53 Business Technology & Services Platforms ServiceNow 39,759
Technologies, has returned to the Top 100 lululemon’s entry into the Top 100 cements
after a one-year hiatus. the premium brand’s rise from niche Canadian 88 Business Technology & Services Platforms VMware 21,505
yoga brand to global activewear titan. In all,
Together, these brands’ ascendance five of this year’s new and returning brands 92 Apparel lululemon 20,616

(or re-ascendance) reflects how the tech hail from outside of the US, thus shoring up
100 Alcohol Corona1 19,043
world’s centre of gravity is shifting from the Top 100’s global composition.
consumer-facing propositions to B2B plays.
This year’s top-placing Newcomer ADP,
provides payroll, HR, and tax services
software for businesses of all sizes. Four brands have returned to the Top 100

81 Business Technology & Services Platforms Dell Technologies 23,138

91 Retail Aldi 21,024

94 Retail Pinduoduo 20,369

98 Financial Services HSBC 19,563

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

1
Brand Value is restated

NVIDIA Business Technology and Services Platforms CATEGORY

INSTAGRAM Media and Entertainment

FACEBOOK Media and Entertainment

GOOGLE CLOUD
UBER Consumer Technology and Services Platforms
Business Technology and Services Platforms
TOP RISERS
ADOBE Business Technology and Services Platforms
Tech and Media brands lead this year’s list
PINDUODUO Retail of the fastest risers in the Kantar BrandZ
SAP Business Technology and Services Platforms
Global Top 100 and category rankings.

ORACLE Business Technology and Services Platforms

AMD Business Technology and Services Platforms

NETFLIX Media and Entertainment

BOOKING.COM Consumer Technology and Services Platforms

SALESFORCE Business Technology and Services Platforms

ZARA Apparel

MICROSOFT Business Technology and Services Platforms

MERCADO LIBRE Retail

DELL TECHNOLOGIES Business Technology and Services Platforms

CHASE Financial Services

TIKTOK Media and Entertainment

CHIPOTLE Fast Food

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ).

TOP RISERS
TECH, MEDIA BR ANDS BOUNCE BACK

This year’s 20 Top Risers represent the brands Brands were also rewarded this year for
that grew their valuations the most year on showing the market that they could boost
year across the Top 100 and category rankings. profitability while retaining their strong
core brand equity. See, for example, the
Overall, the 2024 rankings featured strong rebounding fortunes of tech-forward Media
rebound performances from Tech brands and Entertainment brands like Facebook,
(that is, both Consumer and Business Instagram, and Netflix.
Technology and Services Platforms brands)
and Media and Entertainment brands All of these tech headlines are important to
following last year’s temporary tumble. note in light of the fact that, last year, there
So it’s no surprise that most of this year’s were precisely zero Tech brands among the
Top Risers hailed from these sectors. rankings’ 20 Top Risers. Instead, the 2023
rankings saw Top Risers hailing from the
This year’s number one top riser, NVIDIA, Telecom Providers, Food and Beverages,
grew 178% year on year as demand Luxury brands, etc. Still, even last year’s
continued to soar for the brand’s advanced fastest-rising brand (Airtel, which grew 24%
graphics chips. But what really sets NVIDIA between 2022 and 2023) rose at a rate
apart is the faith that retail and institutional much slower than this year’s 20th-fastest
investors alike have in NVIDIA’s centrality to riser, Chipotle (36%).
the biggest disruptive narratives in tech –
innovations like generative AI, autonomous This year, Chipotle is one of several Top
mobility, and spatial computing. Risers this year hailing from outside of the
traditional tech world. Zara, Mercado Libre,
If you’re bullish on any of these trends, odds and Chase are the others. All of these brands
are you’re bullish on NVIDIA: That’s how well have put up growth numbers for 2024 that
the brand positioned itself on the frontiers serve to shake off last year’s slump, and then
of innovation. This same bullishness has also some – demonstrating the ways that strong
buoyed a number of business-facing Tech brand equity can help businesses to recover
brands more broadly: Names like Google Cloud, faster when the macroeconomic picture
Adobe, SAP, Oracle, and AMD, all of which begins to turn around.
posted year-on-year growth upwards of 50%.

Nikhil Banga
Head of Valuations,
Kantar BrandZ
The importance of building brands is a no-brainer Nevertheless, we know that a brand is one of the
company’s most valuable assets. In many cases, it is
[email protected] for marketing and insights professionals. To those the most valuable one. Kantar BrandZ data shows,
on average, that ‘brand’ accounts for roughly 30% of
outside of our profession, however, brand building business value. And for the highest-performing brands,
is too often seen simply as an extraneous cost, this proportion can rise to more than 50%.

one of the first things to curb when the going Ultimately, Kantar BrandZ’s metric of ‘brand value’ depends
on consumer perceptions as well as a company’s ability to
Greg Biro gets tough. Brand building is seen as a long- translate that brand equity into shareholder value. In that
Head of Ad Hoc Brand
Valuations EMEA,
term project that is hard to objectively measure financial realm, we’ve seen how the Kantar BrandZ portfolio
(based as it is on the world’s most valuable brands) has
Kantar Consulting – and as such is compared unfavourably with consistently outperformed the stock market, even amid
the enormous disruptions caused by various macro-
[email protected]
the short-term objective of direct sales uplift. economic headwinds. Time and again, the market has
proven that strong brands don’t just survive, they thrive.

Brands create value by justifying higher price premium and

by predisposing customers to choose the brand. Amongst
competing methodologies, the Kantar BrandZ approach is
the only one that builds on quantitative customer data to
assess the isolated impact of the brand on the overall value
it creates. This opens several opportunities for analysis and
insights that go beyond identifying a business’s relative size.
What’s offered instead is a quest to answer key questions.

F RO M M A R K E T I N G
M E T R I C TO
B OA R D RO O M
Strategic Commercial
Marketing ROI
Franchising and
Brand architecture licensing strategy

E SS E N T I A L
Brand positioning
Brand
Valuation

Internal
Brand tracking

STR ATEG I C

How do I drive brand value growth, and The role of individual brand drivers What is the ideal brand architecture
how do I measure the return generated in creating overall Brand Value for my portfolio?
by marketing investments?
As a company grows and acquire new brands, there
In the process of valuing a brand, we also identify the related will come a time when it must assess the most efficient
value of brand associations – that is, the dollar amounts way to manage its brand portfolio. Some brands will
Driver 8
linked to the various drivers of brand equity (e.g. trust, $1,871 have significant, hard-to-replace value, while others
or quality perceptions). This supports the prioritisation of Driver 7 could benefit from the added value and synergies of
6% Driver 1
strategic brand building directions based on real monetary $2,112 an umbrella brand. With the help of brand valuation
$6,278
value, which can be linked directly to brand investments. 7% analysis, we can assess the value impact of branding
21% changes and highlight the key risk areas, to inform
By comparing the most valuable areas of brand equity
improvement with feasibility and the competitive context, managerial decisions about brand portfolio optimisation.
we can build a long-term brand development roadmap Driver 6
with clear indications of expected value growth. $2,845
To that end, we recently worked with a B2B packaging
company that had acquired several brands over the
10% years, resulting in a complex portfolio that the company’s
Using the same input, we can identify the incremental Total Driver Value (US$M) own sales teams often struggled to understand. To

$29,710 M
brand value that can be generated by marketing
investment over time. Conducting scenario analysis on drive both internal and external clarity, this client
the assumptions in a valuation can be used as a dynamic sought to develop a simpler brand architecture –
tool to identify the return on investment of specific Driver 2 without jeopardising the value that had been created
Driver 5 $4,530 historically. By assessing brand value, we could identify
activities. Through our Meaningful Different and Salient
(MDS) framework, we analyse brand equity data to
$3,817 15% the company’s most important brand assets and
understand the link between individual attributes 13% separate them from brands that did not carry significant
and their eventual impact in driving brand value. equity. Various migration strategies were put in place to
transition brands underneath the more powerful umbrella
For example, we recently worked with an energy brand brands, leading to an easy-to-understand portfolio.
operating a large network of gas stations globally.
They wanted to delineate the key levers that could drive Driver 4 Driver 3
financial growth for the global brand as a corporate asset. $3,941 $4,317
By looking at upstream and downstream operations by 13% 15%
region, we pinpointed the key areas that could drive brand
success and future growth across the globe. We then
checked these potential value growth drivers against their
required marketing investments – which naturally fed into
a three-year brand development roadmap for the brand.

CO M M E RCIAL INTE RNAL

What is the value of my brand when licensed? How do I align senior management’s KPIs?
For many businesses, an important commercial objective Marketers work hard to build Meaningful and Different
is to expand the footprint of a brand – in other words, Meaningful associations in consumers’ minds. It’s an outcome that
to make the brand accessible to more consumers A clear and consistent emotional Buy now is built on long-term, consistent work to improve brand
across more markets. One way to do this is through connection and is seen to deliver perceptions. But it’s also an achievement that sometimes
franchising and licensing agreements. With robust analytic against consumer needs Demand Power goes underappreciated relative to the contributions
techniques, it is possible to explore the implications for of other business departments, for lack of clear KPIs.

$
licensing strategies (including royalty or franchisee rates) Kantar BrandZ offers a way to introduce strong KPIs into
based on brand valuation. Our brand valuation approach
D if ferent business’ success metrics – such as the ones charted
helps brands arrive at proposed licensing rates by Offers something that others Pay more below – thus making it a tad bit easier for businesses to
considering factors like margins, competition field analysis don’t and lead the way acknowledge and reward the extraordinary work that
Pricing Power
and our IP-protected Brand Contribution methodology. marketers put in.

Salient
What value does sponsorship create How do I create a narrative towards
How quickly and easily it comes Buy again
for my brand? to mind when making a purchase investors about my brand’s value?
or usage decision Future Power
Another angle to licensing is understanding the value Brand value is a great way to attract the attention
of sponsorship for a brand. To take a very timely of those who have a direct say in the performance
example, sponsorship of key global sports events is of a company’s stock: the investors. The investment
often a hot topic, where understanding value creation community recognises the influence of brand on valuation,
becomes critical to make financial decisions. We have with brand being one of the top considerations to investors
partnered with several brands to measure the equity and when evaluating a company’s prospects. Advertising the
brand value impact that sponsorship brings for them, value of a brand in the annual report and in investors’
supporting decisions on the level of investment. presentations not only discloses the strength of the brand
to the financial world – it also accentuates the purpose
and care a company’s management puts into its brands.

By connecting brand equity to dollars, Brand Valuation helps bring insights and
we can help you address multiple strategic marketing into the boardroom using a
questions via ad hoc Brand Valuation, financially sound, brand-specific, and
depending on your needs: customer-centric approach.
• What is the value of my brand and how
can I increase it, creating long-term value Our methodology is unique in leveraging
for my business? quantitative insights from real customers
based on Kantar’s Meaningful Different and
• What is the impact of brand-related Salient framework, which has a proven link
investments on delivering incremental brand to revenue growth.
value (return on marketing investment)?
• How can I optimise the value of my brand The Kantar BrandZ methodology conforms
portfolio via clear brand architecture? to the US GAAP and International Financial
Reporting Standards (IFRS) and has withstood
• What is the value of sponsorship, how scrutiny from European tax authorities. It
much is it increasing my brand value? is certified by the Marketing Accountability
• What is my brand’s endorsement worth, Standards Board (MASB) and compliant
what should I charge for licensing? with ISO 10668 for Brand Valuation.

OR CONTACT:
EMEA: [email protected]
APAC: [email protected]
To find out more: kantar.com/expertise/brand-growth/brand-valuation Americas: [email protected]

53 — WHAT IS THE BLUEPRINT FOR

BRAND GROWTH?

57 — RATIONAL AND EMOTIVE

CONNECTIONS

59 — WHY DIFFERENCE MATTERS FOR

B2B MARKETERS

64 — EMOTIVE BRAND POSITIONING

69 — TURN TO THE LEFT, TURN

TO THE RIGHT?

72 — MAYBE SHE’S BORN WITH IT:

MAYBE IT’S STRONG BRANDING

76 — REDEFINING CUSTOMER
EXPERIENCE

80 — OUT OF SIGHT, OUT OF MIND

84 — AIRBNB’S STRATEGY FOR GROWTH

BEING PRESENT

87 — HOW SAMSUNG HAS CONTINUED

TO GROW THROUGH INNOVATION
TO REMAIN A STRONG BRAND

90 — IDENTIFY OPPORTUNITIES TO GROW

Mar y Kyriakidi
Global Thought Leader,
Brand
It’s the newest thinking from
[email protected]
Kantar that solves the chicken
and egg dilemma of marketing.

Do attitudes drive sales? Or is it that sales drive

behaviours that, in turn, drive more sales?

In other words, which of the following two scenarios would

best describe the success of this widely recognised product?
• Version 1: The iPhone 16 has just been released. It’s more
premium than my current device and I’ve got to have it.
• Version 2: I’ve just purchased the iPhone 16, so it must
be better than the one I’ve got.

If real-life purchasing mirrors Version 2, a marketing team

shouldn’t spend time or resources building a brand’s
perceptions. This is the doctrine our industry came to

W H AT I S T H E heavily embrace over the last decade.

B LU E P R I N T FO R
Behind this paradigm shift was Byron Sharp and his team
at the Ehrenberg Bass Institute. Radical and fresh in equal
measure, his thinking swept all of us in marketing off our feet.

B R A N D G RO W T H ? His findings urged brand managers to make our brands

available everywhere – in the mind, on the shelf, online – and
to load them up with distinctive assets. The thinking went
that if we did so, our brands would be chosen by consumers.

In this framework, penetration was celebrated as the chief

totem of growth – a claim that we at Kantar also certified
and further quantified with pronouncements like, “If you grow
by one penetration point, then you’ve had a good year”.

At the same time, Kantar never stopped testing and re-

testing its brand building assumptions by making use of its
vast trove of market and brand perceptions data. Sure, big
brands are big. But what really defines growth in the long
run? This is an answer that, in truth, can best be answered
by analysing data over time, rather than theorising based
on the state of play at a fixed point in time.

Marketing thinking is forever evolving

Brands with more equity today than expected given their brand size
Almost 15 years since the ‘little earthquake’ that caused (Future Power) are primed to grow and to grow faster
us to prioritise availability, top Kantar scientists have used
billions of data points to re-examine – and, ultimately,
refine – our thinking. They found that, in fact, having the
Brand Size Future Power
highest penetration today doesn’t necessarily guarantee
market share gains in the future. Rather, this future 0.9
success is best predicted by having a favourable equity/
size dynamic in the present day: Those brands that
0.4
currently enjoy stronger brand equity than expected
0.2 0.2
given their brand size are the ones that are primed to Average change in
grow…and grow faster. penetration two years
after initial measure
What we’ve learned, in other words – and somewhat -0.3
contra Sharp – is that: -0.4

• Penetration is an outcome (and not the single Small Medium Large Small Medium Large
route to growth).
• Salience may be a requirement for brand growth, Brand Size / Future Power:
Low: Brands that rank at the Bottom 20% of the metric.
but it is not the only one. Medium: Brands that rank between the 20% to 80% of the metric.
High: Brands that rank at the Top 20% of the metric.
• Mental and physical availability are simply
table stakes.

These findings were the fruit of an analysis of more than

40,000 brands – more brands than ever researched by an
organisation in one go. It’s a study that – as Kantar sees
it – ought to put brand perceptions back at the heart
of businesses’ marketing efforts. And it’s at the heart of
Kantar’s recently released Blueprint for Brand Growth.

The Blueprint for Brand Growth is Kantar’s contribution

to marketing’s pursuit of long-term, sustainable brand
growth. It brings together billions of behavioural and
attitudinal data points; builds on the best of the existing
thinking; and proffers tangible guidance on how to shape
a brand’s future.

Can a brand be destined for growth? Don’t let gravity hold you back
The average marketer this decade has come to grips with “Growth is rarely hostage to the marketplace,”
people’s indifference to brands. Their workspace may as our all-encompassing savant J. Walker
well feature a Post-it note scrawled with Sarah Carter’s Smith has counselled time and again. What
bracing new-era marketing maxim ‘Consumers don’t give he’s advising, essentially, is for brands to
a sh*t’. It’s a confrontational stance, but one that has a concentrate on doing the right things instead
ring of truth. Still, it’s an outlook that can be rather tricky of waiting for the marketplace to correct
for marketers to reconcile with their employers’ presumed itself. It’s a counsel that our Kantar BrandZ
prerogatives for growth – and with marketers’ own data has unfailingly corroborated since
personal ambitions for professional success. 2006: Strong brands not only outperform
the rest and better improve margins for
Cue Kantar’s Blueprint for Brand Growth – which, as Growth accelerators for winning marketers to operationalise effectively their shareholders – they also weather any
encapsulated in our summary graphic, could serve as a financial storm with greater aplomb.
more hopeful, counterbalancing kind of desk decoration.
‘Be Meaningfully Different to more people,’ the large- PREDISPOSE MORE PEOPLE BE MORE PRESENT FIND NEW SPACE Admittedly, the growth paths ahead cannot
font provocation on the royal blue background reads. be identical for all brands. For many brands,
Because when people have strong mental connections success will involve manoeuvring across
with your brand, they are more likely to buy it (again BEHAVIOURS: CONSISTENT, CONNECTED, OPTIMISED macroeconomic factors that are particular
and more frequently), possibly even for a higher price. POWERED BY THE MEANINGFUL DIFFERENT AND SALIENT FRAMEWORK AND MOST MEANINGFUL DATA to their country or their category. Still, there
This is our universal growth driver, it’s what the world’s are behavioural traits that can contribute to
strongest brands tend to have in common. success throughout. We have identified three
such traits that serve as critical enablers
Below that headline, there are three actionable paths for every CMO managing a brand, at every
of action. We’ve observed that top CMOs tend to stage, in every sector: being consistent,
engage in three interconnected activities – three growth connected and optimised.
accelerators that make the biggest difference in actually
becoming Meaningfully Different to more people: Keep all of this in mind as you read the
stories that follow from my exceptional
1. Predispose More People: Invest in advertising and
colleagues. They take you through the
experiences to give your brand a head start in the
different areas within the Blueprint,
race to the sale.
highlighting some of our most exciting data
2. Be More Present: Make your brand easier to choose, insights and teasing out important nuances.
and convert that predisposition into profitable sales. By the time you finish, we hope you’ll feel
newly empowered in the belief that the
3. Find New Space: Address more customer needs,
world isn’t so topsy-turvy after all: Cause
appeal to more usage occasions, or gauge the
does lead to effect, eggs do come before
possibility of opening new categories. In doing so,
chickens, and attitudes do drive sales.
incremental growth will come.

© Kantar 2024 | 55
KANTAR’S BLUEPRINT
FOR BRAND GROWTH
Our new evidence-based framework to
prioritise your marketing efforts.

Built on 5.4 billion attitudinal and 1.1 billion behavioural global data points
over the last ten years, and powered by Kantar’s externally validated
Meaningful Different and Salient framework, the Blueprint is a breakthrough
in understanding how businesses build strong and profitable brands.

Discover the growth driver and the three growth

accelerators that enable your brand growth:
kantar.com/blueprint

Graham Staplehurst
Thought Leadership Direc tor,
Kantar BrandZ
Brands exist only in the minds of
[email protected] consumers. They are the intangible
web of mental connections between
the brand and a host of possible
associations: what we know or
have learnt about it, what we have
experienced, and what we feel.
The job of marketing is to create
and feed these connections, and
to make sure that the connections
R AT I O N A L have meaning to consumers.

A N D E M OT I V E That’s why we put such emphasis on Meaningful

C O N N EC T I O N S
Difference in our guidance to marketers and in our
measurement of marketing effectiveness. How many
times have you watched a commercial and thought ‘why

T H E S EC R E T O F
are you telling me that’? A brand message needs to mean
something in order for consumers to pay attention to it –
and in order for them to recall it later during a purchase

MEANINGFUL journey. That’s down to marketers correctly identifying

the consumer needs that their brand can deliver against.

BR ANDS Needs can of course vary widely across consumers and

consumption moments. What we choose while relaxing
at home is different to what we need while travelling on
the go or at work. We find that the most Meaningful
brands have several qualities.

First, they meet more needs for more people.

Whether you think of these needs as ‘category entry
points’, functionalities or occasions, a brand that is
effective across more of them will form a stronger set
of mental connections.

Second, Meaningful brands address not only people’s Let’s take a deeper look at one of the fastest-growing Putting it together
functional needs, but also their emotional needs. brands in 2024’s brand value rankings. Netflix is
Video entertainment, USA, 2023
Emotional connections are hugely important as worth $75 billion, up 51% from 2023 and 700% from How can other brands acquire this crucial
consumers typically are not rational decision-makers. its first appearance in Kantar BrandZ Most Valuable quality of being Meaningful to more people?
150
Emotional responses – often instantaneous and Global Brands 2016. Netflix is the leading global video
preconscious – are the filter for all of our brain functions. streaming service with over 260 million subscribers by It starts with a brand strategy that identifies
And imbuing brand memories with emotionality will the end of 2023, and it ranks fourth in Kantar BrandZ YouTube the most important functional and emotional
ensure that those memories are more easily and quickly Top 20 Media & Entertainment Brands 2024. Netflix needs for category users (and potential
accessed when needed. 125
users) and maps the brand and product
The data for Netflix and its US competitors is shown existing attributes against them. It’s about
Disney+
Third, Meaningful brands’ associations are positive. in this chart comparing measures of Meaningful and asking: What is the brand known for? What
Whether they offer superior function or emotional Different from our most recent Kantar BrandZ study. Amazon can it amplify through communications in

Different
benefits (like security, status or social connection), The US accounts for around a third of all subscribers Hulu Prime Video
100 all channels? Does it have complementary,
they are liked. This isn’t a strong feeling, like love – just and over 50% of Netflix’s brand value based on Kantar Apple TV+ HBO positive emotional associations providing a
a degree of affinity that is enough to predispose the BrandZ’s financial analysis of global revenues. balanced set of mental connections? What
Paramount+
consumer to choose the brand over others, even if only ESPN+ innovations can help the brand address more
to reduce the consumer’s mental burden of choice. Seventeen years after entering the video streaming Google Play needs and more occasions, and improve the
space, Netflix now commands a level of demand similar 75
user experience?
A majority of the most valuable global brands in this to YouTube from the total viewing audience – despite Sling TV
report have strongly Meaningful connections within being a premium paid service. How does it do this? By Brands then need to understand what
their category. Microsoft meets many functional needs being perceived as a Meaningful and Different brand. gaps exist between their positioning and
for home and office. Coca-Cola is associated with As such, Kantar BrandZ diagnostic data shows that competitors’ – and what investments might be
many consumption occasions. Nivea is trusted through Netflix stands out as meeting multiple consumer needs 50 75 100 125 150
required to close them. Ultimately, being more
Meaningful
generations. Being Meaningful gives these brands two with broad mental connections. Meaningful delivers increased volume and
important benefits. The first is to predispose more people margin over time, creating a clear business
to choose them – they have broad appeal and simplify In particular, consumers view Netflix as offering a better case for such investments.
brand choice. The second is to override the next barrier range of content to watch, of better quality – and as
to purchase: price. being easy to use, with a well-designed platform. Netflix
has built Meaningful connections through a combination
These days, Microsoft competes with free software of great user experience and innovative product content,
alternatives. Coke and Nivea face many competitors, strongly communicated – all delivered with consistency
imitators and own-label products. And yet, consumers over time to create trust and excitement about what
are willing to choose these brands despite the higher Netflix will debut next.
price tag. Meaningful brands drive both volume and
margin for a healthier business. Over the past few years, being more Meaningful to
more people has enabled Netflix to take important
commercial decisions, such as blocking password
sharing and increasing subscription prices – all without
a commensurate loss of subscriber revenue. Company
profit increased to a record $5.4 billion in 2023, up by
20.4% on the prior year.

Jenny Peters
Manager, Kantar BrandZ
B2B marketers face challenges
[email protected] that are not experienced by those
marketing to consumers. Sales
cycles are longer, for example,
with transactions involving larger
orders and bulk purchases. The
buying process is more complex,
with multiple decision-makers
and stakeholders needing tailored
messaging and tight targetting.

All of this can lead B2B marketers to focus more on

performance attributes than on the kind of brand building

WHY DIFFERENCE
where impact is harder to measure.

M AT T E R S FO R
But at their core, B2B and consumer marketing are not so
different after all – not least with respect to the primacy
of Difference in creating brand value for businesses and

B2B MARKETERS
their customers.

Difference helps create value The importance of Difference in

driving margin
Fundamentally, it is the role of the marketer in any
business to create value for both their business and Analysis of the Kantar BrandZ data for 2022 and 2023
their customers: shows that net worth perceptions of B2B brands are
• value for consumers by providing them with a higher than those of consumer-facing brands. In lay
product or service that meets their needs terms, this indicates that they are better at justifying
their prices – that they have stronger Pricing Power.
• value for businesses by increasing volume, This matters because brands grow either by increasing
growing margins, or both volume and market share, or by achieving better profit
margins – or both, of course, and perhaps ideally.
To that end, there are many elements of brand marketing Regardless, the takeaway is that Pricing Power is
that are as relevant for B2B businesses as they are to fundamental to driving business growth for business
consumer marketing. These elements include deploying as well as consumer brands.
high-quality, effective communication; and building
reputation and trust. In both realms, the goal is to create And Difference, in turn, is the most important driver of
a brand positioning that is in line with client needs and Pricing Power for both consumer and B2B brands.
business values – while at the same time serving to
differentiate the brand from the competition.

Our evidence shows that Difference is worth paying for,

in both the consumer and business context. In simplest Contribution of Difference to Pricing Power
terms, that’s because Difference makes a brand less
substitutable. Our collaboration with the University of
Oxford’s Saïd Business School found that adding Kantar
BrandZ metrics to researchers’ models allowed them to
Consumer B2B
predict business performance with 99.5% accuracy –
and that Difference contributed the most to exceptional
business results.

48% 48%

All Kantar BrandZ Categories 2022/2023

Consumer (836); B2B (46)

How to build Difference in B2B

Business, IoT Suppliers, USA, 2023
Kantar’s Analytics practice recently looked at 11,000 In absolute terms, Intel has the strongest Difference
brand cases with an eye toward synthesising the best perceptions of the category as illustrated in the above
ways to drive Difference. Three of the leading strategies graph. Intel is a technology powerhouse that has been at Average

turned out to be: the forefront of computing breakthroughs since its founding 150

in 1968. Its products span a wide range of scenarios that 140

• leadership, setting trends and challenging Samsung Intel
include edge computing, 5G network components,
the status quo; 130
NVIDIA
cloud computing, AI, and autonomous driving.
• distinctiveness, achieving a highly distinctive look
120 2023
NVIDIA
and feel; and One trait that supports Intel’s strong sense of Difference 110 2020

Different

Average
• functional benefits, imbuing goods and services within the market is its distinctiveness. Building 100

with superior qualities that help to set them apart connections to distinctive brand assets over time helps 90
Samsara
from others. to trigger different brand associations more easily. In
80
the 90s, Intel’s consistent use of the iconic ‘Intel Inside’
70
To illustrate these strategies within a B2B context, let’s slogan, together with its simple five-note tune, helped it
look within the specialised area of technology component become one of the most recognised brands in the world 60

suppliers. This category is home to NVIDIA – the highest- among both consumers and business audiences. This 50
SALIENCE = Size of bubble

rising brand in the Global 2024 ranking – as well as distinctiveness – as achieved via long-term brand 50 60 70 80 90 100 110 120 130 140 150
major names like Samsung and Intel. building efforts – has endured through to today.
Meaningful

NVIDIA creates graphics processing units and is currently Samsung is a strong player in both consumer and
driving technological advancement in areas including business technology that, like Intel, also has highly
AI, high-performance computing, gaming and creative recognisable brand assets including its distinctive blue
design. NVIDIA’s ability to anticipate industry trends lozenge-shaped logo. The brand is known for its well-
and adapt has been central to its success, and its stock designed, superior-quality products and is supported by
performance reflects investor confidence in its strategic a strong marketing investment. Together these factors
direction and technological prowess. underpin Samsung’s strong difference perceptions and
justified price premiums across a range of product
Our data taken from a survey of IoT manufacturers shows categories and markets.
that NVIDIA is both Different versus its competitive set
and Different to what clients expect of megabrands of its
size. With its disruptive leadership of the semiconductor
industry, NVIDIA has grown its sense of Difference over
the past three years, along with its pricing power and
ultimately its brand value.

Difference matters for small brands too

Business, IoT Suppliers, USA, 2023
Difference isn’t merely something that drives growth for Difference profile = Difference vs Expected
big brands, of course. Smaller brands can and should for size of brand
get in on the action too. Brands do not need to be
the most Different brand in the world after all – just
relatively different to their competitors.
Samsara 21

For example, IoT sensor builder Samsara may not NVIDIA 19

be able to compete with the likes of NVIDIA or Intel
in volume terms. However, it has built up strong 10

perceptions of Difference for its size – and in fact enjoys

5
the greatest ‘surplus Difference’ relative to any brand of
its size in its B2B cohort. Samsara’s offering is perceived Intel 5
as having a strong functional performance – as well as
notably strong sustainability credentials. 1

-3 Samsung

-3

-8

-9

-10

-29

Putting it together
In summary, Difference matters whether you
are large or small, B2B, or B2C. It matters
because it makes your offering worth paying
more for and drives value for your business.
It is an essential ingredient for brand growth.

How well does your brand stand out?

© Kantar 2024 | 62
BRANDEVALUATOR
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Salient metrics so you can activate growth accelerators for your brand –
to predispose more people or find new space and deliver up to nine times
more volume growth.

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Carol Horsley
Global Lead, Brand Strategy Learning from Ferrari:
[email protected] Difference drives brand growth
Being Different is a fundamental driver of brand growth
– so much so that it’s at the heart of the strategic
imperative driving Kantar’s new Blueprint for Brand
Growth: ‘Be Meaningfully Different to more people’.

But ‘being Different’ is often easier said than done.

What often springs to mind is a brand becoming
functionally better or intrinsically unique. And yes, some
Myles G eorge
brands do disrupt a category with completely unique
Direc tor, Brand Strategy functional differences (that allow them to solve a
consumer tension, desire or need in a new way).
[email protected]
And when brands accomplish this, they do score more
highly on Difference – and their businesses tend to
improve as a result because they’re giving consumers
a strong reason to choose them. Think, for example, of
Tesla’s functional disruptions in electric car design and the
first-mover advantage they have subsequently enjoyed.

But ‘newness’ isn’t the only way to score highly on

Difference – and by definition, ‘newness’ doesn’t last.
Think also, now, about the automotive industry’s overall
shift toward electric vehicles in the years since Tesla’s
rise. Although a first-mover advantage goes some way

E M OT I V E B R A N D
to protecting a brand from imitators, it is incredibly hard
to own a functional point of difference for very long.

POSITIONING

Difference that’s built to last

With the Automotive category as our point of entry, A brand with a strong emotive positioning is often more
we recently lifted the hood on the question of how resilient over time as well. In the luxury car market,
brands can build points of Difference that are better Ferrari is a powerful example of this dynamic – in
able to stand the test of time. addition, it is one of this year’s highest-rising brands in
the 2024 Kantar BrandZ Global rankings.
Looking at the car category, there are just over 3,170 brands
in the Kantar BrandZ database. Of these, 677 are highly So, what can other brands outside of luxury possibly
Different (index 120+). Of these, 56% are ‘proud to drive’. learn from Ferrari? Ferrari’s high price points and
relatively low sales volumes don’t seem that relevant to
In mature categories where products are functionally consumer goods or financial service brands for example.
similar, meeting emotive needs is a powerful route to finding But understanding how Ferrari has built its success on
Difference. In fact, brands with strong emotive clarity are its Difference can nevertheless uncover principles for
far more different than brands without emotive clarity. growth that many brands could benefit from.

Difference Index Ferrari, Luxury Cars, Italy, 2016-2022

200

2016

109 2020 2018

175
94
2022
How Different your brand is

Average
brand
150

125

100
No emotive Strong
clarity emotive clarity

75
50 75 100 125 150
How Meaningful your brand is
Source: Kantar BrandZ 2020-2024, base sizes 7,025 and 2,780

Meaningful Difference built on a legacy Consistency is king

Ferrari is synonymous with speed, luxury and exclusivity. The emotive personality type isn’t the only consistent aspect Likewise, Ferrari advertising over the years has been
But you could say this about any luxury car brand. So of Ferrari’s positioning. When thinking about the brand, it’s a paragon of consistency. The rosso corsa (‘racing red’)
what exactly is Ferrari’s point of differentiation? And how likely that a few key visual cues will spring to mind: the yellow dominates the campaigns.
does all of this work at the emotive level? badge with its black prancing horse for starters, as well as
the Italian tri-colour. These evoke an edgy, dynamic, assertive Of course, consistency alone is not enough. To keep
The Ferrari brand story began many years ago, starting and bold style inherent in the rebel/hero archetypes. ahead in many categories, brands must innovate to
with its founder, Enzo Ferrari, a renowned Italian engage new and different generations of consumers.
motorsport driver and maverick who challenged the Far from graphic design trivia, these are distinctive brand Change is an essential part of a brand staying relevant.
automotive engineering norms of his day. These stories assets. They serve to tap into the fast-brain memory
are part of the Ferrari mystique and are quite literally the structures, triggering ‘Ferrari’ and the feelings associated Even better, though, would be to change without losing
stuff of movies. Like many heritage brands, the founder’s with the brand – thus building deeper connections with sight of one’s distinctive, recognisable brand assets and
personality traits still shape the company culture and consumers. Ultimately, these visual signatures support positioning. That is a rare art. So how does a brand stay
brand image, as evidenced by the rebel/hero archetype Ferrari’s emotive clarity, building on its sense of Difference. true whilst innovating and updating its marketing?
associated with Ferrari in the Kantar BrandZ personality Most startling is the consistency with which Ferrari has
measures. This clear personality forges an emotive leveraged these assets over decades. Compare earlier
connection with consumers – a connection that has been iterations of Ferrari’s logo/badge to today’s version, and
built over time and transferred across geographies. you’ll see that not a lot has changed.

Networker Joker Early badge Print Ad 1980s Recent Ad

circa 1930
Best Friend Free Spirit

Caregiver Rebel

Innocent Hero

Sage Enchanter

Current logo
Expert Ruler

Strong
Moderate
Weak

Less More
Association with archetype
Source: Kantar BrandZ 2024, Luxury cars, Ferrari Leading Archetypes relative to other brands

Brand equity summary metrics

Future Power

BMW 124
Audi 121
Infiniti 119
Lamborghini 112
Mercedes-Benz 112
Cohesion amplifies Difference Difference in action
Ferrari 107
The most powerful aspects of Difference permeate Ferrari builds its Difference on an emotively rich brand Tesla 106
every facet of the brand’s image. legacy – with clarity, cohesion and consistency in its
every expression. It authentically stands apart, staying Lexus 105
We see it like the layers of an onion, one building relevant through evolving styles and product features.
Maserati 104
cohesively on the other. Brands like Ferrari are cohesive All the while, it remains recognisable through powerful,
throughout these layers. They add to their Meaningful consistent brand assets and experiences. Jaguar 102
Difference in a way that starts from an emotive core,
and then moves up through to product features. This lays a strong foundation for growth and future Porsche 91
success. And indeed, looking at Ferrari’s Future Power Volvo 79
in Italy, there’s a high probability that it will grow
value share in the next 12 months based purely on the Alfa Romeo 75
strength of current brand associations.
Land Rover 73
Brand Image: Ferrari
If there’s one ‘watch out’ here, it’s a decline in Ferrari’s Mini 70
Emotion
Meaningful perceptions since 2018. Meaningful is
Bold, edgy, successful style defined (and measured) as the extent to which a brand
Average: 100
builds clear and consistent emotional connections, and
Social values delivers against consumer needs. Ferrari’s Meaningful
Italian design flair, motorsport perceptions need nurturing and investment to ensure
prowess, exclusive luxury that the Ferrari legend stays relevant to new audiences.
It’s about giving Ferrari the best possible emotive
Product features
anchoring from which Ferrari can then leverage the
High performance,
advanced engineering world-class Difference that it has so expertly imbued
into its brand narrative over time. Source: Kantar BrandZ 2024, Luxury cars, Ferrari Leading Archetypes

© Kantar 2024 | 67
NEEDSCOPE
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Meaningful and Different positioning
that is delivered consistently.

Finding a point of Meaningful Difference is often challenging.

In many categories, brands are functionally similar or
consumers have a wide range of choice. But through emotion,
brands can build deeper connections with consumers.

NeedScope provides the direction you need to build a sharp,

differentiated, and clear brand positioning. Its validated,
psychology-based framework and unique tools including AI
help you develop brand positioning that drives strategic
and competitive advantage.

NeedScope also explores the emotion in touchpoints –

to build a consistent brand experience across cultures and
moments that matter.

For further information: kantar.com/needscope

D uncan Southgate
Senior Direc tor,
Global Creative
How fashion brands can grow by
[email protected] amplifying their Meaningful Difference.

Fashion can be a fickle, fast-moving industry. So how can fashion

retailers – those Apparel category brands focused more on everyday
clothing rather than athletic shoes or sports gear – define and grow
successful brands? How can they stay on top of the latest trends
while maintaining a clear, consistent positioning? And how can they
ensure they remain top-of-mind so that shoppers head to their store
first, rather than that of a competitor?

BrandZ data gives us some excellent insights into how Apparel brands
can define their brand strategy. If a brand is lacking Meaningful
Difference relative to competitors, it should start by asking questions
about its current positioning.

Brands that are Meaningfully Different but lack Salience, for example,
must ask which exposures and experiences could best amplify the

T U R N TO T H E
brand’s Meaningfully Different proposition. Ultimately, we know that
brands which are strong on both Salience and Meaningful Difference
generate nine times more volume share and are also more likely

L E F T, T U R N TO to grow future sales. So, Salience is worth getting right. Could our
brand increase its Salience via greater media spend, perhaps? Or by

THE RIGHT?
improving its creative quality?

The French apparel sector offers a nice example of the range of MDS
positionings Apparel brands can inhabit. While C&A has moderate
Salience, for example, it is lacking in Meaningful Difference relative
to the competition – so its challenge in France is to better define its
brand. In contrast, Zara has above-average Meaningful Difference,
so its challenge in this market is to increase its salience.

H&M is fortunate to have strong Salience and Meaningful Difference

in France, but even this brand could drive further growth by catching
up to the category’s leaders on these attributes. For Meaningful
Difference, that means closing the gap with Levi’s; while in the realm
of Salience, it’s Kiabi and Amazon who lead the pack.

One way to amplify Meaningful Difference H&M, for its part, has shown it appreciates Given generally strong digital creative quality for
without increasing media spend is to creative and effective ads. Its amazing Apparel, France, 2023 retailers, it is not surprising that our media effectiveness
improve creative quality. Kantar and WARC ‘Come Together’ Wes Anderson Christmas studies see retail brands making very good use of digital
evidence proves that creative and effective special from 2016 recently made The Drum’s 150
touchpoints. Facebook, Online Display and Online Video
ads generate more than four times as much Top 100 Best Ads Ever. This epic four-minute Kiabi collectively deliver the most brand impact after TV ads
profit. Globally, we believe this is a significant piece of branded content starred Adrien – they’re the three most cost-effective retail touchpoints.
opportunity for many apparel retailers. Brody as a train conductor on the H&M They have slightly different roles, with Online Display
Lines Winter Express train. More recently, it being better at driving associations, while Facebook
Within Kantar’s LINK creative database, we has launched a fun ‘Here for it’ campaign 125
Amazon is relatively stronger at driving purchase intent than
see that the overall creative effectiveness which celebrates how young women feel building awareness.
H&M
of retail brands (of which Apparel brands about fashion during formative experiences
are a subset in this database) is below in their lives. It also recently won at the C&A Despite only moderate creative quality, retail brands
Shein Levi’s

Salient
average across the TV, print and outdoor Effie Europe awards for its UK SEO business 100 (including apparel brands) do still manage to make
La Hallo Celio
media channels. Within TV in particular, the transformation programme. Jules significantly more cost-efficient use of TV ads than we see
ability of retail brands to drive Impact (being Etam Primark in other categories. They achieve this by keeping spend
noticed and remembered for the brand) is Another way to amplify Meaningful Cache Zara levels low with just moderate reach and frequency, lower
12 percentile points lower than our overall Difference is, of course, by increasing or Cache Armand by 20% than we see across all categories. Other traditional
75 Thiery
average – because TV ads from these brands tweaking one’s media spend – with an media (Radio and Outdoor) aren’t generally very cost-
tend to be less enjoyable and less well- eye toward improving media effectiveness. Bershka effective for retail brands, although Radio works better for
branded. Retail brands’ TV ads are also 14 Kantar’s LIFT+ CrossMedia effectiveness data purchase intent, and Out-of-Home (OOH) performs better
percentile points less likely to build long-term provides some key insights into how apparel for both awareness and purchase intent. The weakness of
equity, primarily because they do less well brands can extract more juice from their OOH as a standalone media channel for retailers makes
50 75 100 125 150 175
at driving difference. Print and outdoor ads media dollars. Our data here suggests that it strongly reliant on other touchpoints: 61% of its impact
for retail ads could also be better; they tend retail brands (of which Apparel brands are Meaningful & Different comes from synergy effects with other media.
to struggle on likeability and distinctiveness. once again a subset) cannot rely on organic
More positively, digital ads for retail brands and earned media alone. In the fast-moving So, rather than turning to the left or turning to the right,
tend to perform better. They are typically world of retailers, paid touchpoints contribute Apparel brands should actually be turning top right!
above-average on emotional engagement, 27% of overall brand impact, which is above They can amplify their Meaningful Difference by ensuring
and build equity via both Meaningfulness average compared to other categories. that the same level of passion and creativity they pour
and Difference. into their new collections is also applied to the creative
quality of their paid and organic creative content.
Part of the reason Zara may be bottom-right A strong digital presence is an efficient place to start for
in the French market chart is that it famously Apparel brands’ media plans, but this messaging needs
doesn’t spend much on advertising. That being to connect seamlessly to TV and other media for brands
said, it’s intriguing ‘Back to work’ ad from that want to take home the crown.
August 2023 was a somewhat rare foray into
above-the-line advertising. And Zara does also
have a significant presence on social platforms
such as Instagram and TikTok, where it shares
its latest styles and celebrates events such as
Valentine’s Day and New Year’s.

© Kantar 2024 | 70
LINK
Build strong, integrated campaigns with
an understanding of what works and
how to meet your advertising goals.

The LINK creative development, testing and optimisation portfolio

will help you build stronger ads and magnify the impact of your
media dollars, achieving your commercial objectives and
growing your brand faster.

Benefit from a market-leading unified approach designed to

supercharge your creative effectiveness at every stage of your
content development process. LINK will help you develop ads
that capture attention and optimise content performance across
markets, media formats, and channels. From the big idea to
finished execution, our approach to creative excellence is supported
by industry leading IP, technology, and brand measurement.

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campaigns with LINK.

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Jamie Williams
Senior Direc tor Innovation –
Produc ts & Solutions, Creative
and Media Global Produc t
In the world of TikTok beauty gurus and
[email protected] Kylie Jenner lip kits, one might expect
a 108-year-old brand to struggle to
compete. But over the past century,
Maybelline has managed to reinvent
itself time and again. And indeed, the
story of Maybelline’s latest revamp holds
lessons for all brands about the power of
Meaningful Difference – as do the fortunes
of top beauty brands more broadly.

From New York to the World

M AY B E S H E ’ S Though Maybelline was founded in Chicago and is owned by L’Oréal,

BORN WITH IT the brand has proudly called New York City its home since 1966.
This decade, the brand has become even more outspoken about

M AY B E I T ’ S ST RO N G
its New York provenance as a means of further bolstering its
Meaningful Difference credentials.

BR ANDING Maybelline is ‘New York makeup, made for all’: With this tagline
on its ecommerce storefronts, Maybelline connects its New York
heritage to a vision of the diverse beauty found on NYC streets.
The brand reinforces this brand value throughout its media campaigns,
leveraging a diverse array of models posing in downtown streetscapes.

The brand proudly features New York themes in its product lineup.
Maybelline launched its first ever universal eyeshadow palette in
2020, ‘featuring curated shades that flatter all skin tones as well
as every complexion’, Nudes of New York. And today, its smaller
travel palettes are known as City Minis. The point is that while
Maybelline may be a global brand – with a globally informed insights
programme to match – it nevertheless remains rooted in a distinct
point of view. As the saying goes, ‘If you can make it in New York,
you can make it anywhere.’

Focus on your superstars The value imperative

Maybelline has long had an especially strong presence From there, Maybelline proceeded to become one of the Recently, it’s become common for social media
in the eye makeup category. It was one of the first first mainstream beauty brands to aggressively court influencers to highlight brands across the price spectrum
companies to create modern mascara in the early TikTok beauty influencers, promoting their Lash Sensation rather than focusing solely on ‘drugstore’ or ‘luxury’ or
1900s, and since the 1970s its makeup offering has Sky High mascara with hundreds of power users on the ‘prestige’. These days, what matters most is good-value,
been anchored by the brand’s longstanding bestseller then up-and-coming social network. The product is an high-quality products. Younger consumers in particular
Great Lash Washable Mascara. icon that further helped defined the brand’s positioning have embraced saving money – coming of age as
as affordable luxury rather than merely mass market. they have in this era of price inflation and economic
Often referred to as ‘the one in the pink and green uncertainty. In 2024, it’s cool to be affordable.
tube’, Great Lash is one of the most recognisable The result? Lash Sensation Sky High became one of the
brand assets in beauty today. And it’s a perfect first ever beauty hits of the ‘TikTok made me buy it’ era. Sometimes, this cost consciousness takes the form of
example of what has become a major focus of beauty The brand racked up 400 million social media views for seeking out dupes: ‘me-too’ offerings that match a luxury
brand building in the modern era: the need to build the mascara during the first phase of its campaign alone, product’s colour, texture or functional ingredient, all at a
and identify brand ‘superstars’. all supporting a smash-hit product launch that sold out fraction of the price.
several times over in stores around the US.
These days in personal care, one viral product can More affordable brands can certainly secure a sales bump
generate more sales and build more brand value than Today Maybelline continues to be active on social media, or two by playing the dupe game. But even better are hit
a dozen mid-range brands combined. And while all racking up 12 million Instagram followers and highlighting products that are seen as innovative in and of themselves
healthy brands need at least one ‘iconic’ flagship new products through ‘GRWM’ (Get Ready With Me) – offerings that, in Kantar BrandZ terms, are not just
offering, the healthiest brands have several. videos on TikTok. The early success of the Lash Sensation Meaningful, but Different. With its extensive R&D and
Sky High product allowed Maybelline to add another insights programmes, Maybelline is well positioned as a
Earlier this decade, Maybelline set out to turn a new brand icon to its portfolio – moreover, solidifying the brand to thrive at this intersection of value and innovation.
mascara innovation into its next brand icon. Maybelline’s brand as social media savvy.
labs had developed a patented long-lash formula – a To return to the Lash Sensation Sky High example, the
formula innovative enough – the brand’s managers product’s rollout may have ended with a killer social
wagered – to allow Maybelline to compete not only media campaign – but it began with a smart insight
with luxury ‘lengthening’ mascaras, but also the (even luxury consumers are still waiting for a mascara
growing category of false lash extensions. that can compete with lash-lengthening extensions)
and a breakthrough innovation (a unique, patented
Flex Tower mascara wand). Combine offerings like that
with an unbeatable price, and you’ve got a recipe for
brand building success.

Today’s makeup state of play Purpose is beautiful

Makeup, USA, 2023
Now, let’s dive into the Kantar BrandZ analysis of the top One challenge that all beauty brands face
US makeup brands. This is a crowded category with lots 175 is that makeup can sometimes make people
of popular brands. Brands that are featured on the right CoverGirl nervous. Too frivolous, too exclusionary, too
side of the chart over-index as being Meaningful and feminine, too oppressive: Makeup has rarely
Different. Brands on the top half of the chart over-index been allowed to merely exist. But these
as being Salient. Brands that are able to do both are 150 attitudes may be changing – for the benefit
most effective at predisposing more people to buy. Maybelline of society first and foremost, but also for
New York makeup brands!
Amid legacy names like CoverGirl, Maybelline and L’Oréal 125
L’Oréal Paris
Paris, Fenty Beauty stands out as an example of a newer This past year, for instance, the Barbie movie

Salient
brand that has disrupted the makeup scene by offering Revlon helped to give voice the struggles women go
something different to consumers. The fan favourite from Mac through to stay accepted. I love that women
100 Clinique
Rihanna is well known for its wide range of makeup shades Mary Kay Sephora
are feeling more liberated to wear makeup
that work with all complexions, and its marketing assets how they want to wear it (or, of course, not
Lancôme Fenty Beauty
featuring an extraordinarily diverse array of models. at all!). Makeup these days is about making
bareMinerals oneself happy; it’s about expressing one’s
75 Estée Lauder Chanel
One way to achieve Difference is by ‘leading the way.’ Kylie Cosmetics Dior individualism and identity in ever more
Since its launch in 2017, Fenty Beauty has helped push colourful and innovative ways. Makeup
the entire makeup industry toward offering wider shade brands that embrace this shift toward
ranges. Because of this leadership, and because of the way 50 75 100 125 150
freedom and possibility, and meet their
it harnesses Rihanna’s star power in smart, authentic ways, consumers’ diverse needs in innovative ways,
Meaningful & Different
Fenty Beauty has emerged as both Meaningful and Different. will continue to thrive.

As the global leader, we know how media effectiveness works.

With over 25 years of experience, the world’s largest media norms
database, 25 million global panellists, and strong data partnerships,
Kantar is the gold standard in the media effectiveness industry.

From identifying the most effective target audience, optimal reach,

and frequency to uncovering emerging channels and synergies,
we guide brands through the intricacies of real-time campaign
optimisation and media strategy.

Our comprehensive understanding of LIFT within and across all

channels and devices empowers advertisers, publishers, and media
agencies to shape their media strategies that fuel brand growth.

LIFT your campaign impact, your ROI, and your

brand equity to drive sales and brand growth, visit:
Campaign Effectiveness & ROI

Rob Huijboom
Head of CX
In today’s competitive landscape,
[email protected] delivering exceptional customer
experiences (CX) is paramount
for brand success.

Contrary to common belief, experiences contribute

significantly more to brand equity than paid media,
with 75% of brand equity growth stemming from
product/service experiences and word of mouth. This
evidence solidifies the notion that great brands are
built not only through advertising, but also through
Meaningful interactions with consumers.

REDEFINING Analysis of Kantar BrandZ data has further revealed that

C U STO M E R
organisations see greater business success when they
cohesively connect their brand and experiences, and
stand out from the crowd. Specifically, they see reduced

EXPERIENCE
churn, increased loyalty, premium price power and more
growth by predisposition of new customers.

K A N TA R’ S PAT H Delivering Meaningful and Different experiences is

at the heart of world-class CX, and it’s what primes

TO M E A N I N G F U L LY
a brand for growth. We found that brands that are
strongly Meaningful and Different achieve five times the
commercial brand value growth of brands that aren’t,

DIFFERENT over a two-year period

EXPERIENCES
Kantar’s new measurement tools for CX reflect this
learning. It’s an evolution away from traditional CX
metrics that focus mainly on aspects like functionality,
frictionlessness and quality of recommendations. Those
are still important, but what we’ve done is layer in
measurements of a more fundamental question: Is your
CX creating emotional resonance with your customers?

UND E R STAND IN G M E ANIN G FUL D IFFE RE N CE

In short, our aim has been to imbue the principles of Meaningful Difference in
measures of experience. And so we started by asking ourselves: What does it take
for experience to be not just functionally distinct, but Meaningfully Different?

4
We identified six core elements that encapsulate Uniqueness: evaluates the perception of
the essence of impactful brand interactions. how far a brand stands out from others in
Each of these six elements contribute to the category. It measures whether, and how,
the creation of memorable and valuable consumers feel a brand offers something they
experiences: 1-3 contribute to the Meaningful cannot get elsewhere. Uniqueness primarily
dimension of customer engagement while connects to the Different aspect of CX by
4-6 impact on Difference: offering novel and distinctive experiences that
consumers feel are incomparable.

1
Effectiveness: evaluates how well a brand

5
delivers on its promises, provides the right service Authenticity: focuses on the clarity, consistency
or product at the right time, and resolves issues and transparency of a brand’s actions, as aligned
without creating more issues. Effectiveness to its core values and promises. Authenticity
bolsters the Meaningful aspect of CX by ensuring primarily reinforces the Different aspect of CX
that customer needs and expectations are by ensuring that interactions align with how the
consistently met. brand portrays itself.

2 Ease: measures the ease with which customers

interact with a brand, focusing on reducing
effort, simplifying processes, and providing
6
Inspiration: encompasses the ability of brands to
exceed customer expectations, sparking joy with
magical moments that leave a lasting impression.
convenience and accessibility via intuitive design. Inspiration primarily bolsters the Different aspect
Ease supports more Meaningful CX by ensuring of CX by delivering not only moments that matter,
that interactions meet people’s needs efficiently. but also moments to remember.

3
Affinity: measures the level of empathy
and personal relevance embedded in brand
interactions, which builds trust with customers.
It primarily assesses the Meaningful dimension
of CX by evaluating how a brand has built an
emotive connection, fostering a sense of pride
and belonging.

Commercial gains Metrics that matter

These six dimensions collectively form the framework Ultimately, our goal has been to create new, actionable
for understanding Meaningful Difference in customer scores that allow for excellent diagnostic capabilities:
experience, encompassing both the Meaningful and the
Different aspects of brand interactions. By strategically 1. Kantar’s Experience Strength provides our clients with
addressing each dimension, brands can create an overall understanding of their CX positioning’s
experiences that resonate deeply with consumers – current performance – while also emphasising those
ultimately driving growth, loyalty and brand advocacy factors that most contribute to building long-term
in a competitive marketplace. preference, thus increasing the likelihood that the
brand will be chosen again in future.
Get experience right and so many other benefits will
follow – for example, reduced churn and greater repeat 2. Kantar’s new Experience Power, meanwhile, works
purchase behaviours. Customers are more likely to feel alongside Experience Strength. This score directly
that a brand is right for them, and offers something links brand equity measurements (via the Meaningful
they cannot get elsewhere, when they have Meaningfully Different and Salient framework) to our CX approach.
Different Experiences (MDX). Sales conversions become Indeed, a study run by Kantar BrandZ whilst developing
easier too, when your digital and physical pathways this score found hard evidence that CX contributes to
to purchase are imbued with both emotional and brand growth more than paid media does.
functional insights.

The real innovation in our approach lies in marrying

conventional CX with the Meaningful Different and Putting it together
Salient framework – expanding our view beyond
customers to include the predisposition of non- Based on the above insights, brand and experience
customers. A great experience can drive word-of-mouth teams ought to become better acquainted – and more
among potential customers, influencing market share than that, better integrated. At Kantar, our hope is that
growth and building future brand value. the concept of MDX can serve as a bridge between these
two realms, ultimately ushering in a new era in customer
experience management.

By embracing the principles of Meaningful Difference,

brands can unlock untapped potential for differentiation,
customer loyalty and market share growth. As businesses
navigate the complexities of the modern marketplace,
Kantar stands ready to guide them on their journey
towards creating transformative customer experiences.

© Kantar 2024 | 78
MDX
Kantar has redefined customer experience
with a new framework that drives
brand growth and resilience through
Meaningfully Different Experiences (MDX).

MDX heralds a new era in customer experience management.

Kantar evidence shows that brands that improve their experiences
in a Meaningful and Different way are 2.5 times more likely to
significantly increase their market share. By building emotional
customer connections with signature-brand experiences, you can:
• Predispose more people to expand your customer universe
• Build resilience for stronger customer retention
• Merit a higher value proposition

It is no longer enough to provide functional, frictionless experiences.

Getting these basics right is important, but Kantar can take you much
further by helping to make your CX a contributor to brand growth.

Find out how we can help you deliver exceptional customer experiences at:
kantar.com/expertise/customer-experience

Karlene O’Hara
Global Chief Product Officer,
Worldpanel by Kantar In the twisting aisles of global
[email protected] consumerism, where the fast
moving consumer goods (FMCG)
industry persists amidst the noise
of choice and change, a simple
truth emerges: visibility is viability.
Brand growth transcends mere
survival of the fittest; it demands
a persistent presence.

In the arena of everyday commodities, from toothpaste

O U T O F S I G H T,
to soft drinks, each purchase is a battleground where
only the most visible and engaging brands prevail. This
has made the decoding of growth trajectories not just

OUT OF MIND a worthwhile pursuit, but a necessity for Samsung as a

business? Today, Samsung has strong penetration in the

THE IMPE R ATI VE O F

market and also enjoys elevated Future Power – meaning
there’s a high probability that it will grow value share in
the next 12 months based purely on the strength of current

B R A N D PR E SE NC E brand associations.

I N F M CG

From prevalence to presence Penetration: the heartbeat of success

But first, some context from those brand battlegrounds: In other words, achieving presence relies on more than Brand growth strategies often hinge on the
Small brands (those agile Davids against the long-standing visibility alone. It’s about becoming integral to the misconception that increasing frequency or spend
Goliaths, with less than 10% penetration) are growing consumer’s daily narrative. If visibility was all it took, without expanding the buyer base will suffice. However,
globally. Their secret? Presence. To be more present is to big brands would have the natural advantage. But the across industries, a pattern of double jeopardy often
go beyond merely existing. Instead, it’s about resonating in proof is in the global Worldpanel data, which now shows manifests when this ‘base expansion’ is neglected: Brands
every nook of the consumer’s world. Brands with superior big global brands capturing 39% of FMCG value – a with lower market share or penetration not only have
presence cast a wider net across retail channels, strike proportion which has trended downward in recent years fewer customers, they also suffer from higher churn rates.
roots in diverse markets, and ensure that portfolios are as consumers opt for smaller or more local brands. This means that these brands face the dual challenge of
as nuanced as the palette of human demand. attracting new customers while simultaneously working
This is not to say that the big brands (the Goliaths) are harder to retain their existing ones, amplifying the
all losing – but to win, they must generally fight harder struggle for growth and stability in competitive markets.
and smarter. The truth is that in the FMCG market,
gaining a place in the winner’s circle is one thing – but The Worldpanel by Kantar data is clear: From 2022 to
Small but mighty staying there is another. 2023, 86% of growing brands grew through increased
Biggest penetration gains among small brands penetration. To find penetration, brands are in a constant
The top 20% of larger brands have a 42% chance of battle to ensure they are front and centre in the shopping
penetration growth, while the bottom 20% have a 48% journeys of consumers. In other words, to be present
Brands with Penetration Buyers gained chance of growth. However, maintaining any level of and essential. It’s a dance of numbers – each household
less than 10% points gained (M) dominance is fraught with difficulty. Our data analyses gained represents $1,051 annually, each brand choice $3.
penetration globally 2022-2023 A one percentage point lift in penetration globally equals
indicate that a year marked by exceptional performance
is frequently followed by a less remarkable one. an addition of 13 million households.
Stayfree 1.1 16.9
For larger brands, this variability underscores the And the penetration conversation matters more every day.
Himalaya 0.9 13 importance of prioritising the retention of current Why? Because in the FMCG space, private label products
customers. Safeguarding this base is crucial; any erosion are assaulting brands at an unprecedented rate. In some
Horlicks 0.8 12.7 in this area will be difficult to recover. Meanwhile, while markets, they account for more than half of sales.
smaller brands may have somewhat better prospects for
Red Bull 0.5 9.2
growth, they are still prone to experiencing a downturn. Further pressuring brands is the expanding array of
McCain 0.6 9 retail channels competing for consumer attention. Being
To provide further flavour to the challenge, consider present on physical shelves is rarely enough in a world of
Good Knight 0.5 8.3 this as brands fight for billions of buyers: 36% of 42,000 online shopping and direct-to-consumer options.
brands analysed by Kantar Worldpanel lost buyers.
Ferrero 0.4 7.3 This is testament to the punishing reality of market
dynamics. Yet, beneath these topline numbers, small
Monster 0.4 7
brands still found growth, underscoring the value of even
one penetration point in this multi-trillion-dollar arena.
CeraVe 0.4 6.3

Ocean Spray 0.4 6.3

Source: Brand Footprint 2024. Worldpanel by Kantar. Total FMCG, 42,000 brands analysed.

Growing pains
Likelihood of brand growth and brand saturation within a market
Penetration growth – and the attendant requirement
to be more present in order to achieve that growth –
is easy to promise and (much) harder to achieve, 10 easiest countries to The hardest countries 10 hardest countries to
given some of the headwinds. Amidst a cost-of-living grow penetration in 2022 for brands to gain scale grow penetration in 2022
crisis that squeezes wallets dry, global spending surged
by 8% in 2023. But this growth, driven mostly by
the handiwork of inflation and not by more volume, 80%
obscures the true consumer dynamics at play.

Percentage chance of growing by one penetration point per year

Households facing higher prices are often trading down
to cheaper products or choosing more value-oriented 70% Brazil Mexico
retailers. However, many remain willing to reach out
for brands that maintain a comforting presence.
60%
Peru
Still, for large brands, some national markets currently Philippines
present better opportunities to grow penetration than
50%
others. For example, the US leads the world for its Costa Rica Argentina
Nicaragua
high-median penetration for large brands – with an GROWTH
El Salvador Morocco
average penetration level of 40% for the largest 250
40%
brands in the country, compared to a global level of
23%. But looking ahead, those top brands also face
a low chance of growing their penetration in the US 30% Bangladesh
by a further 1% per year.
India
In countries like the Philippines, Brazil and Mexico, 20% Sri Lanka
by contrast, the likelihood of large brands’ future Vietnam France
penetration growth is much higher. Location, location, UK
Thailand Ghana
location: that old adage exists for a reason! 10% China Ireland
South Africa
Portugal USA
Spain

0% 5 10 15 20 25 30 35 40 45

SCALE
Median penetration (Top 250 brands within the country)

Source: Worldpanel Division, Kantar, Brand Footprint 2023. Sample size: 13,491 brands within a country

The vanguard of growth: Sprite’s story

Maximising presence
Sprite is a shining example of how large brands can spot Soft Drinks, China 2022-2023
leading indicators in markets where they were previously
underpenetrated. By tapping into the zeitgeist with its
‘Heat Happens’ campaign, Sprite found 47 million new Brand Value % Volume % Penetration %
shoppers between 2021 and 2023.
2022 2023 2022 2023 2022 2023
China was core to this success. Off the back of changes in
shopping habits created by the pandemic, Sprite focused TTL SSD 100 100 100 100 86.0 84.8
on proximity channels like grocery stores, mini markets
and convenience stores. In a still-uncertain environment, Coke TM 24.7 24.6 27.1 27.1 51.9 51.2
Sprite also leveraged online-to-offline platforms like Ele.me
Sprite TM 15.2 14.8 18.5 17.9 43.9 41.4
and Meituan to deliver products in a convenient shopping
experience. A new visual identity was also deployed in China
Fanta TM 3.9 4.3 4.3 4.5 16.7 17.5
for Sprite Zero Sugar, further helping the brand stand out
amidst rising demand in the zero-sugar segment. Schweppes TM 0.7 0.8 0.5 0.5 1.9 2.2

Sprite’s success story exemplifies how being present is MM Juice SPKL 0.2 0.4 0.2 0.3 1.5 2.2
an activation superpower. It also came on the heels of
deft brand building efforts that predisposed consumers Pepsi TM 14.1 14.9 17.1 17.6 38.9 38.6
to need, identify and ultimately buy their product. That’s
important, because imagine if Sprite had relied instead 7UP 1.2 1.3 1.5 1.6 6.1 6.7
on sales won through more price-focused activations –
in which case they would have risked margins, and likely Mirinda 2.7 2.8 3.3 3.3 12.8 12.6
been forced into a series of short-cycle initiatives.
Waston’s 2.2 2.1 1.2 1.1 2.7 2.7

Genki Forest 7.8 5.2 4.9 3.3 19.9 14.8

Blueprint for growth
Wahaha 0.6 0.4 0.5 0.4 2.2 1.8
Moving forward, brands must weave themselves into
the daily tapestries of their consumers, be it through JianLiBao 0.0 0.1 0.0 0.0 0.1 0.2
product offerings that resonate with the cultural
zeitgeist, or through strategic market manoeuvres that BeiBingYang 1.9 1.7 0.9 0.8 2.5 2.8
place them in the right place at the right time.
DaYao 2.6 4.1 1.9 3.0 5.6 8.5
The winning message is clear: To grow is to be present.
To be present is to be chosen. This presence is twofold, HanKouErChang 0.4 0.2 0.1 0.0 1.2 0.6
encompassing both an attitudinal brand predisposition
(often referred to as Demand Power) and behavioural HaoWangShui 0.5 0.9 0.1 0.2 1.0 1.7
aspects such as volume share. For those who fail to heed
the call to be more present, the risk is clear: out of sight,
Source: Kantar Worldpanel - CTR China. Take-home panel.
out of mind, out of the market! SSD by Brands, Value%, Volume% and Penetration%, AH National urban, FY2023 vs. FY2022

Jorge Alagon
Global Head of Data Science
Innovations, Kantar Airbnb stands out in the Kantar
[email protected] BrandZ Top 100 report not only
for its strong brand value growth,
but also for how that growth has
been fuelled by a clear, consistent
strategy of being more present.

Being present means being available and easily findable

at the purchase moments – with the optimal range of
products to meet consumer needs at the right price.

The ‘hows’, ‘wheres’ and ‘whens’ of this availability will

vary by category and brand, of course. But the same
general principles apply whether a brand is selling

A I R B N B’ S
physical goods or digital services. Airbnb’s digital
sophistication has long been a cornerstone of its brand
presence – while its ultimate offer involves brokering

ST R AT EGY FO R
access to a vast network of real-world lodgings. As such,
Airbnb should be studied as a prime example of what it

G RO W T H
means to be more present both online and offline.

The company’s operational metrics in 2023 prove the

B EIN G PR E SE NT
efficacy of its user-friendly platforms, with $9.9 billion in
revenue (+19.2% year on year) and 448 million bookings
(+13.9% year on year).1 With a website optimised for user
engagement and supported by a robust SEO strategy,
Airbnb ensures it remains a top search result, translating
into higher organic traffic and bookings. This demonstrates
an acute awareness of the importance of being digitally
present when travel purchase decisions are being made.

1
https://www.businessofapps.com/data/airbnb-statistics/

Meanwhile, the brand’s global presence in over 220 New pricing tools for hosts, combined with a renewed Of course, being present isn’t enough on its own.
countries is a testament to its strategic innovation and emphasis on affordability and transparency, have You need predisposition too – predisposed buyers are
Airbnb’s blended strategy builds both
expansion. This diversified presence ensures that a strengthened the quality and awareness of Airbnb’s less more likely to search and find you in the first place,
Demand and Activation
wide variety of destinations and accommodations are expensive offerings. Special credit should be given here to which means other factors like price have less influence
available to users, contributing significantly to Airbnb’s Airbnb’s application of AI across its platform, particularly over the purchase decision. Sometimes, brands that
market share. By localising products and catering to in features like smart pricing. It has served to reduce consumers are less predisposed to choose can win out ACTIVATION BASED
Days Inn BLENDED

regional preferences, Airbnb continues to expand its friction in the customer journey while also optimising the over the option consumers initially favoured. This is
availability and offer, driving its share growth. host experience and profitability. where Activation Power comes in.
Fairfield
Airbnb
Airbnb’s full-year results reveal a disciplined approach In short, Airbnb is winning by optimising its presence at every Activation Power is your brand’s ability to convert Courtyard
Westin
to growth. This past year, the brand managed to both stage of the path to purchase. Kantar BrandZ data shows consumer predisposition into brand choice through Residence Inn Best Western

Activation
increase profitability (thanks in part to strong cost that Airbnb’s volume share is larger than expected given its being present in the market. Both Demand Power and Comfort Inn Hampton
management efforts), while also finding ways to be more equity (Demand Power). This is evidence of how its brand Activation Power are necessary for brand growth. Holiday Inn
DoubleTree Hilton
present as an option for more price-sensitive travellers. presence in the market (Activation Power) is boosting sales.
Airbnb’s strategy is to build both Demand Power and Hyatt Marriot
Activation Power – brand equity and market presence – Sheraton
being easy to choose and easy to buy.

Airbnb’s brand presence in the market, its Activation Power, is boosting sales Airbnb’s pivot from performance marketing to brand
HEADROOM FOR GROWTH DEMAND BASED

beyond expected sales due to equity (Demand Power) building has been critical in its growth trajectory. Demand Power
Bold campaigns highlight unique offerings like Airbnb
Categories, underscoring the brand’s distinctiveness. Source: Kantar BrandZ, Travel Accommodation, USA, 2023
20%
Hilton Diversifying into experiences like cooking classes and
18% outdoor adventures illustrates the brand’s commitment to
cater to various traveller needs beyond accommodation.
16%

In all, by educating customers about the Airbnb

14% ACTIVATION
POWER difference, Airbnb has shifted from purchasing customer
Marriott
12% traffic to building a brand that is Meaningfully Different.
Volume Share

10% Airbnb By investing in both the long and the short, Airbnb’s
Holiday Inn
continued success can be attributed to two factors
8% Days Inn Hampton working in harmony – a Meaningfully Different
6% Best Western brand which creates predisposition; and intentional
Comfort Inn management of the brand’s presence which effectively
Courtyard
4% Hyatt converts predisposition into brand choice.
Residence Inn
2% Sheraton
Westin
DoubleTree
Fairfield
0% 2% 4% 6% 8% 10% 12% 14%

Demand Power

Source: Kantar BrandZ, Travel Accommodation, USA, 2023

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Dr Nicki Morley
Head of Behavioural Science and
Innovation Expertise, UK Insights
& Innovation Expert for the Kantar
Sustainable Transformation Practice I’m often asked for examples of brands
[email protected] that put innovation at the heart of their
growth strategy. Samsung is definitely
a brand that comes to mind as best in
class in this regard.

Kantar BrandZ data tells us that Samsung’s strong brand profiles have all
the hallmarks of an innovative brand, scoring well on such attributes as
‘leading the way’ and ‘having a good range’. But what does that mean
for Samsung as a business? Today, Samsung has strong penetration in
the market and also enjoys elevated Future Power – meaning there’s
a high probability that it will grow value share in the next 12 months

HOW SAMSUNG
based purely on the strength of current brand associations.

HA S CONTINUED Mobile Phones, USA, 2023

TO GROW THROUGH 150

I N N OVAT I O N
Apple iPhone

TO R E M A I N A 125
One Plus Samsung

ST RO N G B R A N D Huawei Asus

Future Power
ZTE HTC
100 TCL

Nokia
Motorola
Google
75
Sony
LG

50
0 30 60 90
Penetration

But Samsung is an innovative brand precisely because Where Samsung’s bravery really shows is in its willingness
it is unlikely to rely solely on the strength of its current to experiment into new spaces, such as extra mile
offers and associations. Innovative brands know that convenience stores featuring dynamic merchandising
to remain Meaningful and Different, they must seek and digital humans. Samsung’s extensive stretch into new
alternative sources of growth from rich new spaces. spaces not only affords it richer penetration opportunities,
it is also the reason for its strong Kantar BrandZ scores on
Samsung has done this well, offering a wide array of ‘leading the way’ and ‘having a good range’. These are
electronics beyond smartphones – but even within that fundamental building blocks to long-term brand equity
domain, its range of handsets is far more extensive growth through innovation.
than that of Apple, in line with its guiding principle of
‘Innovation for all’. Today, Samsung’s smartphone offer Innovation is part of Samsung’s DNA. But other
encompasses everything from its more affordable Galaxy companies may struggle to appreciate the important
A series (meant to attract less affluent consumers) to its role innovation plays in helping brands to remain
cutting-edge Galaxy S24 phone (targetted towards ‘tech Meaningful, Different and competitive in the market.
enthusiasts’ who want better cameras and productivity).
Kantar BrandZ tells us that brands that are Meaningful,
Samsung has also innovated into the foldable phones Different and demonstrate innovative behaviours, double
space, with its clam-like Galaxy Z flip-phone aimed at their chances of growth – so the time to evolve is now.
Gen Z women who want a more unobtrusive phone to
put in their back pocket. Today, Samsung dominates
the foldable phones market – eight out of every 10
foldable phones owned by consumers are from Samsung
according to Kantar Worldpanel ComTech data. Innovation is a key driver for
Meaningful Difference
Samsung also has a wider vision around ‘connectivity
in the home’. Compared to other electronics and tech
manufacturers, this gives it such a strong opportunity to 54%
create a competitive space in which to grow, especially
through innovations like its SmartThings home hub
app and its Family Hub refrigeration line. Samsung has 25%
realised the need for technology to be less intrusive
within people’s lives and homes and, to that end, has
driven low-profile aesthetic innovations though its Frame
TV range (which recently expanded further with the
introduction of the Music Frame). HIGH HIGH
Meaningful Meaningful
Difference Difference
+ INNOVATIVE BEHAVIOURS

The challenge in implementing this advice

is that, often, electronics and technology
manufacturers do not take the time to test
The struggle often, however, isn’t to appreciate the need to innovate but and learn and seek consumer feedback.
to have the bravery to innovate into ‘stretchier’ new spaces. At Kantar, That could change as AI technology makes
we understand how to innovate successfully. Let’s consider now some of it easier and faster to incorporate consumer
feedback in a way that doesn’t risk slowing
our biggest innovation learnings on how to put this courage into practice, down the tech world’s ‘move fast’ ethos.
with Samsung again called on as needed as our illustrative example:
From there, brands should remember
that innovation is not an island. We know

1 4
Innovate to remain Meaningful Be brave with data: Innovative from Kantar BrandZ data that 70% of
and Different: Brands need to build brands use data to build confidence brands’ equity comes from delivering a
from strong brand and consumer within their business, to continue strong experience, being innovative and
insight foundations. From there, making innovative bets. It’s about being creative. To deliver this, brands
they must use Meaningful Difference staying with the uncomfortable as a must build great product experiences and
as their ‘North star’, guiding brand continues to open up to much communications in a connected way.
them to meet needs and exceed ‘stretchier’ spaces. That means coming together early across
the competition as they develop functions, and aligning from strong brand

5
innovations into new spaces. Execute effectively: Brands should and insight foundations.
always look to expand into new

2
Fuel your imagination: To get to spaces – but those spaces themselves Don’t leave your growth to chance. Use this
richer opportunity spaces, brands should be carefully defined. Spaces advice to expand into rich new opportunity
must fuel their imaginations. That that are too widely defined run spaces. If you don’t, others will be keen to
means taking both an ‘inside the risk of a brand not being able disrupt you.
out’ approach to identifying to execute effectively across all
opportunities (for example, from areas, thus diluting its core brand
market understanding), as well message. In a similar way, messaging
as an ‘outside in’ approach that should reflect the range of audience
incorporates macro-forces, trends, segments and scenarios the brand
consumer disruptive behaviours and plays in – but the emotive territory
learnings from adjacent industries. should remain somewhat cohesive.

3
Learn, test, and learn: Samsung,
like all innovative brands, excels at
experimenting and learning. After
some challenges with its early
foldable phones in 2019, it went on to
dominate this space with a series of
increasingly superior phone offerings
for the more tech savvy consumer.

Mark Visser
Global Head of Consulting
Category maturity is a hidden
[email protected] factor behind the growth
trajectories of many large
brands – and behind the recent,
cross-category trend of top
brands expanding into new
Paul Cowper spheres of business.
Senior Par tner Consulting
Consider this scenario: A big brand finds itself in an
[email protected] immature, high-growth category (something like hard
seltzers 10 years ago, or AI business services today).
In this case, the dual task of our brand would be to
accelerate the Meaningful perceptions of the total
category, as well as of its own individual brand’s equity.
Doing so can yield turbocharged growth.

But then, consider the common sequel to such a

situation. Too often, growth slows down as our brand’s
once-new category reaches maturity, leading the brand
to look for new spaces to stretch into. You can see
examples of this ‘find new spaces’ imperative playing

IDENTIF Y
out today in all sorts of categories, from pet care and
mobility to condiments.

O P P O RT U N I T I E S Sounds like a no-brainer, right? But the truth is that

accelerating the growth of one’s current category, or

TO G RO W
expanding into new spaces, are both tasks that can be
best carried out by brands that already enjoy positions of
relative strength. So, if your brand is currently struggling
to be seen as Meaningfully Different, then you may need
to ‘shore up your core’ before expanding into new spaces.

But let’s assume that your core brand is strong, and The reason for this is that people relatively seldom
that your category is mature. In that case, yes you need make very linear, rational, cognitively engaged choices.
to move into new growth spaces, and fast. No matter Their decisions are often framed less by a question like,
how urgent the need for change, this ‘find new spaces’ “Which of these narrowly defined category offerings
process should always start with challenging yourself should I go for?” and more by a question like, “What do
on the definition of the business you are in – which in I need now to make me feel better?”
turn should draw on an understanding of the underlying
motivations and usage occasions of your consumers. So, the way to find new spaces is to take a step back
from the category and instead consider more broadly
Often, there is a difference between the category a (and also more closely) how people live. Consider the
brand says it operates in and the category a brand is fundamental needs that drive people’s choices. This
really competing in when it comes to securing a share can provide the real advantage of being able to do
of consumers’ paycheques. So, you need to be ready, something first. For example:
willing and able to challenge yourself on your actual
• Learning about a new city meant paying for
category positioning.
professional guides or guidebooks – until Airbnb
Experiences came along.
The issue is that most category definitions are product-
or manufacturing-based. As such, brands can fail to see • Crisps were cheap, and mostly meant for kids –
and understand the (emerging) needs and occasions until Walkers Sensations.
they could serve. And they are unaware of the alternate
• Interior design was down to specialists – until IKEA
solutions people are already pursuing to satisfy their
launched its home design solutions offering.
needs today.
These and all other such new space opportunities always
In the messy real world, your true competition isn’t only
seem forehead-slappingly obvious with the benefit of
the other brands and products that are ranked beside
hindsight. Obviously though, the real trick is being able
you in tracking or at point of sale. The reality is more
to see them in advance.
expansive than that:
• Painkillers compete with heat treatments Converting new space opportunities into growth
and massages. can sometimes be as simple as providing better
communication (to help people see your offering as
• Wine competes with tea and biscuits.
being relevant to a new context – consider the rising
• Subscription Video On Demand (SVOD) services popularity of Baileys Irish Cream among bakers). Or it
compete with books and trips to the cinema. could mean extending distribution (to make the brand
more present in that emerging context). On other
occasions, innovation is needed to address emerging
opportunities for the brand.

C A SE STUDY: NE W SPACE S IN ACTI O N General retailers, Brazil, 2022

To further illustrate the multiple ways brands can think about 140
Amazon
‘new spaces’, let’s look at Mercado Libre.
Shopee

Mercado Libre is a Latin American ecommerce Going forward, Mercado Libre’s main growth 120
2021
platform that was founded in 1999 – and had strategies all involve new ways to increase the 2019
grown by 2006 to become Latin America’s largest frequency of usage, or they serve to stretch Havan Mercado
trading platform. It achieved this initial growth by the brand into new categories. For example, it’s Libre

Future Power
following a clear path of finding new geographical working on ways to expand use of the Mercado Ponto 2022
100
spaces. Today, it is active in 18 countries with Pago service on other retail platforms. In the Shoptime
Argentina, Mexico and Brazil (where it’s known as future, the brand may also offer more in the way Submarino
Mercado Livre) as its biggest markets. It’s a great of entertainment streaming services.
example of a brand reaping the rewards from
80 Magalu
being an early pioneer. A potential threat to these ventures has emerged, Americanas
however, in the form of downward pressure on the Casas Bahia
Since 2012, however, Mercado Libre has experienced brand’s Future Power (as seen in the chart to the
greater competition in its core ecommerce business right). To grow, brands first need to have a strong
– most notably from Amazon. In response, Mercado foundation in their current core categories – a 60
Libre has surfaced new spaces to grow into by foundation that ideally involves the kind of repeat 0 20 40 60 80 100
Penetration
extending its range of categories and products sold. business dynamics that Future Power measures. In
But of course, its competitors have made bold moves other words, even whilst prioritising new categories, *Penetration represented by % of current claimed usage
too. Singaporean brand Shopee entered the Brazilian Mercado Libre needs to bolster its experience
market in 2020 and now offers a wide range of low- credentials among current customers – especially
priced, ‘me too’ products (similar to what consumers among the audiences that Shopee and Amazon
elsewhere might find on a platform like Alibaba). It now cater to as well. The relaunch of Mercado Libre’s
has since become the most downloaded, most used loyalty programme, Meli, is just a first step in this bid
shopping app in Brazil. In response, Amazon has to ‘secure the core’ whilst also finding new spaces –
also reorganised this decade around offering more a kind of two-step strategic dance that has become
convenience and value for money. a hallmark of modern brand building.

This disruption to Mercado Libre’s core retail business

has made its third type of new spaces expansion
– into services – all the more crucial. First founded
in 2003, the brand’s Mercado Pago platform is a
payment system that now stands as a full-service
fintech player for B2C and B2B clients. Today, Mercado
Pago contributes to half of the brand’s revenue.

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95 — THE CATEGORY OVERVIEW

98 — ALCOHOL

106 — APPAREL

113 — AUTOMOTIVE

120 — BUSINESS TECHNOLOGY

AND SERVICES PLATFORMS

127 — CONSUMER TECHNOLOGY

AND SERVICES PLATFORMS

134 — FAST FOOD

141 — FINANCIAL SERVICES

148 — FOOD AND BEVERAGES

155 — LUXURY

162 — MEDIA AND ENTERTAINMENT

169 — PERSONAL CARE

176 — RETAIL

183 — TELECOM PROVIDERS

THE CATEGORY PICTURE

TECHNOLOGY BR ANDS
ON THE REBOUND
After a tough showing across the board last year, most categories began Business Technology and Services Platforms, Luxury, and Fast Food
have made the most progress since 2022
to recover their value in a strong year for bounce-back growth.

Every year, in addition to the Global Top Business Tech, Luxury, and Fast Food The Fast Food and Luxury categories also had 10%
100, Kantar BrandZ ranks the world’s most brands make the most progress strong showings, growing 15% and 8% year 2 YEAR WINNERS
valuable brands across 13 major categories. on year, respectively. Last year, these two 5%
Food and
This year, the total value for 10 of these The Business Technology and Services categories were among the most resilient, Beverages
0%
categories increased year on year, while Platforms category grew the fastest this posting relatively small year-on-year declines. Luxury

2023 vs. 2022 Brand Value % change

the total brand value of the other three year, increasing in total value by 45%. Now, with this year’s upswing, Fast Food and -5%
Fast Food
categories remained essentially flat. Partly this is due to excitement around Luxury have managed to actually surpass
advanced AI – and the way that large their 2022 total valuations and achieve Telecom Alcohol
-10%
Providers
That’s a welcome departure from the trends existing brands are well positioned to positive two-year growth.
seen in the 2023 report, when all returning capitalise on future AI-driven growth. -15% Personal
Care Automotive
categories saw year-on-year declines in the Meanwhile, the Media and Entertainment Financial
-20%
face of a weak stock market and cascading But more generally too, there has been category (which includes resurgent social Apparel Services
macroeconomic disruptions. a shift in the tech world toward backing media brands like Instagram and Facebook) Business Technology and
-25% Services Platforms
more B2B plays, rather than focusing more was this year’s second-greatest proportional Retail
But what categories recovered most strongly on consumer-facing propositions. gainer, rising in total value by 34%. That put -30%
completely? Today, the Kantar BrandZ rankings reflect the category just shy of its 2022 valuation.
this momentum well. (For more commentary The other double-digit percentage gainers -35%
on this shift, see the category analyses that were Consumer Technology and Services 2 YEAR LOSERS
-40%
follow in this section). Platforms, which grew 15% since last year,
and Financial Services, which rose 10%. -10% 0% 10% 20% 30% 40% 50%

2024 vs. 2023 Brand Value % change

The view from the Global Top 100

S HARE O F TO P 100
The Global Top 100 can also be broken
down to provide a category-level view:
in this case, by tallying each category’s
contribution to the Top 100’s total value of
nearly $8.3 trillion. Here, Business Technology
and Services Platforms brands once again
come out on top, contributing 23% of the
Top 100’s value.

ALCOHOL
ALCO H O L TO P 20: (US$M)
DEFINITION:

MOUTAI
The Alcohol category includes global and regional brands, and includes
brands of beer, wine, spirits and multi-category alcoholic drinks.

CORONA1
BUDWEISER
HEINEKEN
MODELO
L I B E R AT I N G L I B AT I O N S /
1

JOHNNIE WALKER
WU LIANG YE A LCO H O L B R A N D S O F F E R
JACK DANIEL’S N E W P RO P O S I T I O N S
HENNESSY
NATIONAL CELLAR 1573
BRAHMA
MICHELOB ULTRA
BUD LIGHT
SKOL Category Brand Value
GUINNESS Year-on-Year Change
SMIRNOFF
STELLA ARTOIS
TECATE Alcohol Top 20
LUZHOU LAOJIAO Total Brand Value
MOËT & CHANDON
Source: Kantar/BrandZ (including data from S&P Capital IQ). 1Brand Value is restated

ALCOHO L

The Alcohol category returned to growth this year,

rising to 5% in total brand value thanks to the Savvy Xie
Group Account Director,
performance of beer brands in particular. Brand, Creative & Media Practice,
Insights, China
In fact, the only ranked Alcohol brands that For much of 2023, for example, Modelo led
[email protected]
saw gains this year were beer brands. All of the field in US advertising spending, with
the wine and spirits brands on this year’s list a special focus on sports. The goal of this
saw declines. advertising has been simple and focused:
retain Modelo’s vast, loyal following among In China, people were anticipating a big spike in alcohol
This year also boasts a new most valuable Hispanic drinkers, while increasing exposure sales after the pandemic. But while we’ve seen recovery in
beer brand: Corona. Over the past 12 to the non-Hispanic segments of the US restaurant channels, nightlife channels’ recovery is not as
months, Corona has not only strengthened market. Because of how its popularity falls dominant as expected. People are less willing to go out and
its Difference perceptions in its home market across these two demographics, Modelo’s aggressively party. Brands with the most success are the
of Mexico, it’s also drawn on these authentic growth trajectory has fallen somewhere in ones who can quickly adapt themselves to fit the new
roots (and its Pricing Power) to increase between that of a challenger brand and an market momentum.
sales volumes and revenues abroad. Looking established legacy player (which it is, among
forward, the brand’s non-alcoholic offering, Hispanic consumers).
Corona Cero, will take centre stage as the
global beer sponsor for the Olympics – the first Beyond these individual brand successes,
time a beer brand has held this designation. what accounts for the strong performance of
top beer brands overall? One answer is value.
US brand Budweiser is the second most In much of the world, 2023 was a year when
valuable beer brand. It also had a strong consumer sentiment lagged behind headline
year of overseas sales, with a strong uptick economics data – not least because food
in revenue from China and India especially. prices proved some of the most stubborn of
India is now Budweiser’s fourth largest any category when it came to inflation.
market, up from seventh in 2017.
To the extent that alcohol spending and food
Meanwhile, in the US domestic market, budgets are linked in consumers’ minds, it
Modelo passed Bud Light in the second half makes sense that drinkers would look for
of 2023 to become America’s top-selling beer. ways to cut back on more expensive adult
Much has been written about the politicised beverages, returning instead (the theory
circumstances surrounding Bud Light’s sales goes) to the more democratic world of beer.
dip (parent company ABI has since tripled
the brand’s marketing spend to win business
back). But Modelo’s rise has been entirely to
its own credit.

ALCOHO L

In China, the situation is slightly different

but the result is the same. Chinese food
prices actually trended more deflationary
in 2023. But at the same time, the most Han Ye
valuable Chinese Alcohol brands are so ultra-
premium (a bottle of baijiu can command
Ginto Kannoth Lead Partner, Kantar
well upwards of $200) that cheap food made Group Account Director China Advisory Business
little difference to the purchasing math for [email protected] [email protected]
spirits. Anyway, China’s slower headline
growth rates have had an impact on baijiu
sales: These days, consumers are sacrificing
somewhat in the near term to put away The landscape of India’s spirits industry is In China, baijiu brands are trying to win over
money for the future. undergoing drastic shifts – increasing traction younger generations – which they have realised
with premium spirits: luxury whiskeys, malts, gins, means building associations with new moods and
So, more beer, less baijiu – even for the etc. Also, new and emergent regional players occasions. And so over the past two years, you
relatively well-off Chinese consumer. And are rapidly growing, in part because of India’s have seen the category leader, Moutai, branch
yet, baijiu still carries so much cultural growing economy. Its surge of high-income into ice cream. Moutai has also collaborated
prominence within China, commanding a consumers coupled with the burgeoning youth with some very well known coffee and milk
hefty luxury premium. The result is that even and middle-aged subset makes for an audience tea brands. This has made young people more
in a year where baijiu behemoth Moutai’s that tends to be more experimental. Meaningfully interested, while also bringing the entry-level
brand value declined by 2%, the world’s most Different brand building assumes higher price down to one that’s more accessible for
valuable Alcohol brand nevertheless remains significance in recent times – even during the Gen Z. Importantly, they have done this while
well ahead of the rest of the pack. general slowdown in demand for FMCG in India, still maintaining Moutai’s premium positioning
the spirits brands which are highly Meaningfully – because they chose the right brands to
What’s also important to note this year is Different are able to showcase resilience and collaborate with.
that China’s baijiu brands have responded to better performance. However, we have seen a lot
economic headwinds not by retreating from of entry-level brands disappear – turns
brand building activities, but by doubling out that availability and affordability are not the
down. Moutai in particular has made a only things that matter for spirits.
concerted play for younger consumers with
successful extensions into coffee, ice cream,
and chocolate. Its collaboration with the
Luckin Coffee chain, for example, sold 5.4
million cups of baijiu-infused coffee on its
first day alone.

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ALCOHO L

Baijiu brand Wuliangye, meanwhile, has

partnered with Campari on a strategic
alliance that aims to marry traditional
Chinese spirits with the creative tradition Michal Lutostanski
of mixology (‘Wugroni’ anyone?). The deal
reflects the fact that Chinese consumers Strategy Business Director,
are becoming more interested in the wider Kantar Poland
world of spirits – a shift that Western brands [email protected]
have also noticed, and that has pushed
them to also make more brand building
commitments for the years ahead.
Everyone knows about the challenge alcohol brands face in
For example, even as cognac sales in China reaching new Gen Z consumers. But it’s just as important to
saw the same downturn for 2023 as baiju retain and recruit older drinkers. In Poland, and in Europe,
did, LVMH has continued to invest in new our society is getting older. From there, it’s just simple math:
experiences for its Chinese clientele. These If your penetration among age 60+ consumers declined
include Hennessey’s first-ever Asian flagship by 10% two decades ago, that might mean you lost the
outpost in Shanghai. LVMH also recently business of 0.6 million people, let’s say. But today, if your
acquired a majority stake in the luxury baijiu penetration declines by the same percentage among older
distiller Wenjun. consumers, you might lose one million consumers. This older
demographic is so much bigger these days – so winning
Johnnie Walker, meanwhile, recently launched favour with them will lead to bigger business gains too.
a limited-edition umami-flavoured whiskey
for the Asian market. It’s part of a worldwide
trend toward bolder flavours in the spirits
market. In America, flavoured whiskeys are
having a strong moment even as overall spirits
sales remain largely flat. See, for example, the
50% sales growth enjoyed last year for Jack
Daniel’s ‘Tennessee Apple’ whiskey.

A yen for flavour experimentation is also behind

the ongoing ‘ready to drink’ (RTD) cocktail wave.
Compared to the hard seltzers that dominated
a few years ago, the flavours in RTD offerings
are stronger and more varied, encompassing
a wider range of spirits and mixers.

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ALCOHO L

What’s also notable about the RTD segment

is that unlike the seltzer boom, large brands
have been determined to get in on the ground
floor, rather than race to catch up. Investments Paul Cowper
in RTD formats are a big part of what a
conglomerate like Heineken is talking about
Senior Partner, Kantar Lexi Wendt
when executives vow to move ‘beyond beer’. Consulting UK Senior Director, Brand
[email protected] [email protected]
But even for a Heineken or an AB InBev,
‘beyond beer’ can also mean pushing more
inventive twists on beer drinks themselves:
think micheladas in Mexico, or shandy and These days, you don’t have to be formal and The rise of canned cocktails and malt beverages
fruit beers in Southern and West Africa. dressed up to enjoy a more ‘premium’ experience has led to a lot of historically non-alcoholic
– you can be in a more casual mood and still turn beverage brands moving into the space –
There are, no doubt, further ingenuities to certain types of ‘premium’. Across pretty much sometimes as standalone ‘hard beverage’
in the making – perhaps being developed all alcohol formats, in fact, ‘provenance’ and offerings, other times in collaboration with
in innovation hubs like the one Heineken ‘premium’ mean different things to consumers alcohol brands (for example, Jack Daniel’s
opened last year in Singapore. Already in than they used to. For example, age statements and Coke). And it’s an interesting marketing
Southeast Asia, Heineken’s portfolio brand on whiskey have become much less important challenge, because you have to decide which
Tiger has launched a soju-infused beer in in recent years, and there are other ways you brand codes to lead with or emphasise. Is there
flavours like plum and melon. Unorthodox, can distinguish your brand based on flavour or more power in foregrounding the non-alcoholic
perhaps – but perfectly in tune with the process. Similarly, it used to be that imported brand because it’s got more novelty when
recent worldwide interest in Korean culture. beers tended to claim premium – but now people appearing in the alcohol space? Or is there still
increasingly want local brands, and are ready to power in drawing on the legacy or legitimacy of
Still, traditionalists may wonder: Why see them as premium too. the traditional alcohol players?
tinker with beer in this moment when its
straightforward, no-frills nature is what
so many like about it? In short, because
times are changing, and Gen Z drinkers in
particular seem likely to prioritise flavour
exploration and lighter formats over hoppy
brews in the years ahead.

But also for a more elemental reason:

because top brands know that success
depends on never resting on one’s laurels.

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B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE FIND NEW SPACE 2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO BUY

$85,565 M As a market leader with strong predisposition,

Moutai is well poised to expand beyond traditional
$19,043 M While maintaining its leading position in key
markets like Mexico, Corona is also predisposing
-2% vs 2023 category parameters. more people (via excellent marketing) in growing
Corona is the most valuable beer brand in the markets like China.
Moutai is the most valuable Alcohol brand in the world. Through collaborations with premium partners like world and has built strong Meaningfully Different
In the face of challenging market conditions, Moutai Luckin Coffee and Mars, Moutai has leveraged its connections with consumers. In 2023, Corona continued to highlight its
performed ahead of expectations for its region and strengths to attract a younger audience. And strong sustainability messaging and its connection with
category – thus avoiding the steeper declines seen by Future Power credentials suggest it has the momentum Corona is well known for its sunny, consistent nature. Corona Cero is also one of the global sponsors
other baijiu brands. needed to expand into new realms. marketing messaging. of the Paris Olympics.

Brand Strengths: Chinese wine/baiju brands Global brand equity Corona around the world

LEADING THE WAY

70 150
138 Mexico
129 121
Moutai

SHAKING THINGS UP

How Salient your brand is

Future Power

China
Meaningful Different Salient

30
0 25 50 150
Penetration How Meaningful and Different your brand is

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ALCOHO L

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Alcohol brands must demonstrate their

superior quality to get ahead

Relative to other categories, ‘superior quality’ plays a

bigger role as a demand driver for Alcohol brands.
And it’s especially important for spirits brands.
2024 BRAND VALUE $1,376 M 2023 BRAND VALUE $3,249 M
Superior quality refers to perceptions like perceived
expertise, trust, and taste. Aperol is the number-one fastest riser in Tsingtao beer is one of the fastest risers
the Kantar BrandZ Most Valuable Italian from the Kantar BrandZ Most Valuable
Brands 2024 ranking. Chinese Brands 2023 ranking.
Proportion of brand equity driven by
‘superior quality’ MEANINGFUL +9 MEANINGFUL +7

Superior quality refers to perceptions like expertise,

DIFFERENT +3 DIFFERENT 0
trust, taste and buzz about the brand SALIENT +12 SALIENT +7

21%
18%
16%

2023 BRAND VALUE $417 M 2023 BRAND VALUE $1,841 M

Fruit beer brand Brutal Fruit improved This champagne brand has found further
its Demand Power in 2023 by becoming success by being more present (converting
more Meaningful. its growing predisposition into sales).

DEMAND POWER +7
MEANINGFUL +7

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ALCOHO L

AC T ION
P O IN T S /
B R AND
1
STRETCH INTO
2
E A SE INTO
3
EMBR ACE NE W

B UI LDI NG NE W C ATEGO RIE S

Non-alcoholic brands – from Arizona Iced Tea
to Sunny Delight – have shown no hesitation
‘BET TER FO R YOU’
Attitudes toward what used to be called the ‘vice
categories’ are changing. In the past, and in most
O CC A SIO N S
The rise of RTD canned cocktails has led to a
proliferation of new drinking occasions and
in expanding into the RTD and malt beverage markets, alcohol brands would have shied away dayparts. Consumers may have five or six
category. But the exchange can work well in the from any hint of ‘virtue’ – for fear of backlash. occasions in which they might casually decide to
other direction, too, as evidenced by Moutai’s foray However, rising consumer interest in attributes drink a beer – but the possibilities expand when
into chocolate. And in the UK, Absolut scored a like clean labels, herbal homeopathy, and natural drinks like hard kombucha or a whiskey highball
viral hit by collaborating with Heinz on a range of sourcing – plus the rise of lower-alcohol options are just as easily kept on hand. In mid-2023, a
vodka sauces. – have led to new ways of thinking about the Kantar Analytics data study identified nearly 30 key
interaction between adult beverages and wellness. moments surrounding the emerging RTD category,
It’s still probably too soon to tout alcohol brands ranging from post-exercise to train journeys and
as wellness players. But consumers are making casual hikes with friends.
calculations about which drinks are ‘better’ for their
health goals, rather than writing off all drinks as
equally bad. Brands that understand these new
calculations – and offer propositions that speak
to them – thus stand to become more Meaningful
(and Meaningfully Different) in people’s eyes.

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APPAREL
APPARE L TO P 10: (US$M)

NIKE
DEFINITION:
The Apparel category is comprised of mass-market men’s
and women’s fashion and sportswear brands.

ZARA
LULULEMON W I N N I N G ST Y L E /
ADIDAS A P PA R E L B R A N D S P U R S U E
L A ST I N G VA LU E
SHEIN
UNIQLO
H&M
PUMA
Category Brand Value
Year-on-Year Change

ANTA
PULL&BEAR
Apparel Top 10
Total Brand Value

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

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APPAREL

The world’s top Apparel brands grew their total

value by 5% this year, as a new competitive
Ankit Dhingra
landscape began to take shape following the Director, Brand and Shopper,
disruptions of the early part of this decade. Insights Division
[email protected]
For example, many apparel brands And then, for Western brands, there is some
accumulated a glut of excess inventory positive news out of China these days as
coming out of the pandemic, which well. This time last year, local brands like
In the Middle East today, global brands like Zara, Adidas,
brands then spent much of 2022 and 2023 ANTA and Li-Ning seemed poised to replace
Nike, and H&M have a strong resonance with consumers,
selling down, often in conjunction with their foreign competitors as the prime
especially now that they’ve started to personalise and
steep discounts. objects of Chinese consumers’ affections.
localise their offerings to fit the Arab culture. But what we’re
But today, the likelier trajectory now seems
seeing on the horizon is a push among local retailers to
On top of this, there were lockdowns and to be one of coexistence.
develop more private label brands to compete with the big
other stressors on the all-important Chinese
global names. These private labels are not only betting that
domestic market – and outside of China, For instance, the world’s most valuable
they can compete on price – they think they have a superior
there was the destabilising rise of ultra-fast Apparel brand, Nike, has improved its
view into what the local consumers want. And so the onus is
fashion players like Shein. Even with this Meaningful connections in China over the
now on the global brands to shore up their insights engines
partial list of disruptions in mind, it’s not past year – to the point where it once again
to retain their competitive edge.
hard to see why the 2020s got off to a stands as the #1 apparel brand in the country
bumpy start for many apparel brands for brand equity perceptions.
(unless, of course, you were Shein).
This time last year, the Apparel rankings The Chinese market has also warmly received
were showing a 21% fall in brand value. lululemon, which grew this year based on
positive signals in China, reduced discounting,
2023’s double-digit decline makes this year’s and continued expansion into men’s and
modest positive growth more encouraging – footwear. In its biggest market, the US,
even if 5% growth falls short of a complete lululemon has strengthened both its Demand
recovery for the category. But what, if and its Pricing Power over the past year.
anything, has truly changed in the
intervening 12 months? The Chinese athletic brands, meanwhile, are
heeding their government’s calls to expand
For starters, brands have begun to pull back on abroad. For ANTA, this push has involved
promotions. At the same time, new inventory a number of high-profile athlete signings
management systems (which often were years ahead of the 2024 Olympics.
in the making) have begun to come online.
The hope is that these new systems – which are
built around breakthrough innovations like AI
analytics and RFID tracking – will help brands
to reduce oversupply issues going forward.

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APPAREL

The most famous example of a Chinese

apparel brand succeeding abroad is Shein,
of course. Today, the core proposition that
propelled Shein’s rise remains intact. It’s a Sam Wright Jodie Gillary
proposition that is highly attractive to Gen Z
in particular: ultra-affordable clothes brought
Consumer Insight Head of Client Impact,
to market so fast (in as little as 10 days) that Director Brand, Insights, UK
the product mix is always on trend. (And it’s [email protected] [email protected]
also true that on the supply side, Shein runs
less risk of overstock because of the way it
relies on small initial runs of styles to test out
trends. If a trend doesn’t hit, Shein is rarely Disruptive weather patterns and changing Everything is on the table these days. You go to the
left with a warehouse full of unsold variations seasonal demand have become an increasing children’s section of a store and half of the clothes
on that style). threat to business-as-usual in the apparel are just smaller versions of adult clothes. But then
category. In the UK last year, we had the you also look at more adult brands, and there are
At the same time, Shein’s model has been warmest September on record. And brands were lots of styles there that would have been deemed
so successful that the brand now faces trying to put coats out on the floor at a time ‘too young’ a generation ago. More choice can be
competition from other Chinese players with when it was 25°C on a daily basis. And then good, but it can also be challenging for consumers.
similar business plans. Still, whether customers winter hit, and we had a really wet December, Clothing is so tied to identity. And some consumers
are buying from Shein, Temu, Trendyol, or which led to items like quilted jackets and puffers feel that endless options have actually made it
some other player, there’s no doubt that performing terribly, while winter raincoats and harder to figure out their identities. Everyone’s
Western apparel brands will continue to face anoraks suddenly became a lot more important. saying ‘wear whatever you want.’ But actually,
significant pressure from China’s ‘instant Unfortunately, it’s really hard to forecast the people don’t always know what they want, and
fashion’ merchants. weather 12 or even six months in advance – but brands can still play an important role in helping
it’s clear that ‘seasonality’ needs a rethink. people to cut through this proliferation.
In part, these legacy players have responded
by vowing to be more fast, flexible, and cost-
conscious themselves, while still delivering
on their sustainability commitments. As they
revamp for more speed, however, they will
need to be careful not to weaken Meaningful
Difference and other measures of brand equity.

Perceptions of superior quality, for example,

have kept Uniqlo competitive even as other
Asian brands have undercut it on price. This
reputation has helped Uniqlo make the most of
viral hits like its crescent-shaped shoulder bags.
Similarly, new entrant Pull&Bear is a good
example of how apparel brands can marry
youth appeal with a healthy price point.

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APPAREL

And then, even as ‘instant fashion’ has Still, it’s important that these brands retain
disrupted top brands’ mass-market plays, their reputation for great value, too. A price
new lanes for growth have opened up thanks point that counts as ‘new premium’ in the US Mansi Nagpal
to changes in the premium and luxury or Germany may be unaffordable in crucial Group Account Director, Brand
apparel markets. It’s a simple case of cause emerging markets like India and Southeast
and effect. In the past five years, many Asia – or among the many Gen Z consumers Creative and Media Practice,
upscale players have significantly raised their worldwide who are still coming into their Insights, China
prices – sometimes by more than double. purchasing power. [email protected]
The result is that for many ‘aspirational’ Returning again to Gen Z, much has been
upper- and middle-class consumers, so- made of these young shoppers’ divided
called ‘accessible luxury’ brands are no longer approach to sustainability. One day, it’s What we’ve seen in the past year is that conversion from
affordable – and the ‘high luxury’ houses true, they’re buying large hauls of new upper funnel metrics to lower funnel metrics is becoming
have become unattainable altogether. Today, clothing from ‘instant fashion’ brands; the more difficult for apparel brands in China. We’ve also seen
these consumers need a new landing place next, they’re thrift shopping and selling used confusion around sustainability. Several brands just lift
for polished, on-trend clothing – and so too clothes on Depop. out their global sustainability narratives and drop them
will Gen Z consumers as they begin to reach into China unchanged. When we’ve tested some of those
their late 20s. One way to look at this divide optimistically narratives in the Chinese market, we’ve realised that the
is that Gen Z is now receiving a practical consumer takeaway is very limited. Instead of doing this,
Enter a brand like Zara, which has made education on the subject of value. By acting brands need to drill down on what the actual sustainability
attracting these ‘aspirational’ shoppers a as both buyers and sellers, young people concerns are here, and explore where they can really make a
priority. To do so, it has worked to premiumise are learning about what it means for a difference in line with those concerns.
its flagship brand, while also positioning its brand to have staying power: both in their
Massimo Dutti offshoot to take advantage own closets, and in the wider marketplace.
of the current interest in ‘quiet luxury’. H&M And over time, that should mean that the
has also successfully made a play for luxury strongest brands rise to the top.
defectors and ‘grown-up Gen Zs’ via special
collections and its COS sub-brand.

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APPAREL

B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE BE MEANINGFULLY DIFFERENT 2024 BR AND VALUE BE MORE PRESENT

$27,101 M $15,106 M
TO MORE PEOPLE
Uniqlo plans to open 80 new stores in Greater China
Zara has strong connections in its home market in 2024, as well as 20 new locations across the US
+47% vs 2023 and is now leveraging its strengths overseas to be +25% vs 2023 and Canada.
Meaningfully Different to more people.
Owned by Spanish company Inditex, which reported Uniqlo is among the best-performing Apparel brands Uniqlo aims to take advantage of its strong Demand
its highest ever profits in 2023, Zara is the fastest- Today, Zara stands for delivering on-trend product around the world – including in China, where it has Power in China by remaining as accessible as it can
growing Apparel brand in 2024. ranges and a strong user experience, both online maintained a strong presence. be – optimising its ecommerce and social presence
and in its 2,000 stores across the globe. alongside store location.
Zara’s strong brand equity has allowed it to While other brands live and die by their ability to
premiumise in ways that set the brand apart from chase trends, Uniqlo pairs its more fashion-forward
‘fast fashion’ competitors. Brand equity across key markets propositions with a popular range of good-quality Uniqlo improves in China
basics at affordable prices. Uniqlo now aims to ride
150
the momentum of a strong 2023 with plans for 40
Brand Strengths: further global expansion.

LEADING Spain
USA Uniqlo
How Different your brand is

France 2023

BETTER ONLINE

Volume Share
HEAR GOOD THINGS
Chinese
Mainland

GOOD RANGE Uniqlo

2014

50 150 0 15
How Meaningful your brand is Demand Power Share

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APPAREL

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Apparel brands have become more The most valuable apparel brands tend to be known for
Meaningful to people

The most valuable Apparel brands are increasingly

Meaningful among global consumers. They have H&M 111 Good
range
done so by leading with strong product ranges,
great advertising, a good online experience, and 2024 BRAND VALUE $1,815 M 2024 BRAND VALUE $1,932 M
leading the way in their categories.
Inditex-owned, youth-focused Bershka Hugo Boss celebrates its 100th birthday

Apparel Top 10
LULULEMON 110 Leading
the way
is one of the fastest growing brands in
Spain in 2024.
in 2024 and has evolved into a leading,
tech- driven fashion player.
Meaningful change over five years Demand Power Demand Power
182
Average brand: 100 153
113 113
75
114
119 NIKE 111 Great
advertising
Under 35 Over 35 UK France Germany

SHEIN 108 Better online

and on mobile

2019 2024

2024 BRAND VALUE $711 M 2024 BRAND VALUE $1,595 M

Drawing on strong provenance, Havaianas Uniqlo sibling brand GU offers trendier,

sells 250 million pairs of flip flop sandals more youth-focused clothing and plans
annually across over 100 countries. to expand in the US.

MEANINGFUL 158 DEMAND POWER +53

DIFFERENT 136 MEANINGFUL +20
SALIENT 177

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APPAREL

AC T ION
P O IN T S /
B R AND
1
NURTURE YOUR
2
BUILD YOUR
3
EMBR ACE THE

B UI LDI NG CL A S SIC S
As it rebuilds for a post-Yeezy future, Adidas has
leaned heavily – and successfully – on revivals of
PARTNER P O RTFO LIO
For sneaker brands today, fashion and celebrity
collaborations have evolved from an occasional
RI GHT BRI CK-AND -
M O RTAR MIX
‘classic’ shoe models like the Samba, the Gazelle special event to a year-round calendar of releases. For more premium apparel propositions especially,
and the Spezial. High-profile collaborations have Which means that managing collaborations has brick-and-mortar retail remains an important sales
played some role in reigniting hype for these become a lot like portfolio planning: You have channel. And of these brick-and-mortar outlets,
ranges: A twist on the Samba from British designer to make sure all segments are satisfied. Do you own-brands stores that allow labels to sell direct
Grace Wales Bonner was one of the big fashion hits have your K-Pop star lined up for the quarter? to consumer hold obvious appeal, both financially
of 2023. But even mainline releases of these shoes Major luxury house? Cult euro boutique? Japanese and for brand building. Certainly, an exclusive focus
have achieved cult status on TikTok and Instagram fashion oracle? London streetstyle star? Surrealist on branded stores has worked well lululemon. But
– and the fact that they remain so hard to keep in prankster? Nostalgic IP character? All of these Nike, by contrast, has found that it benefits most
stock has only made them more coveted. collaborations will require distinct media plans. from a mix of direct and wholesale channels – it
To win the collab game, marketing teams must is now actively re-engaging with mass-market
therefore learn to speak fluently across an ever- retailers after a few years in which it began to pull
expanding galaxy of mass and niche publicity back its stock. For a brand as big and inclusive as
channels. Collaboration planning should also Nike, it just makes sense to maximise availability
incorporate finding new spaces. It’s about asking: at all points where customers may be inclined to
Are there existing cultural spaces that have been make a purchase – even if that means ceding some
under-addressed by the brand? By the category? control. For lululemon – still a challenger brand
Are there emerging cultural spaces that could be a in many ways, despite its enormous success –
good fit, too? exclusivity pays off.

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AUTOMOTIVE
AUTO M OTIVE TO P 10: (US$M)

TESLA
DEFINITION:
The Automotive category includes mass-market and luxury
cars, trucks, motorcycles, scooters and tyres. Each brand
includes all models marketed under the brand name.

TOYOTA
BMW CHANGING L ANES /
MERCEDES-BENZ AU TO B R A N D S P U R S U E
W O R L D W I D E E X PA N S I O N
PORSCHE
FERRARI
BYD
FORD
Category Brand Value
Year-on-Year Change

HONDA
AUDI
Automotive Top 10
Total Brand Value

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

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The total brand value of the Automotive category grew

5% this year as brands reaped the benefits of pent-up
demand for new cars following years of shortages. Sarah Ackling
Senior Client Success Director
That recovery should not be taken for granted. But the category’s revised growth projections
[email protected]
Cars could have gone the way of some less also reflect a downward correction in the near-
fortunate sectors (for example, commercial real term forecast for electric vehicle sales. Electric
estate) and faced persistently lower revenues vehicle sales are still growing, to be clear – but
coming out of the pandemic. But fortunately, also at a slower pace than had been hoped Forecasters in the US and Europe have been predicting
plenty of consumers are still looking to get for. It’s true that electric vehicle mileage the end of the dealership model for years now, but it is
behind the wheels of a new vehicle – not only ranges have improved greatly in recent years. still the dominant mode for buying and selling cars. A new
in America and Western Europe; also in Asia, But range was always only one component programme from Amazon is a further challenge to the old
Africa and South America. of consumers’ willingness to ‘go electric.’ model, because of the way it splits the difference between
Charging infrastructure is another big piece of dealerships and direct sales. Working with Hyundai North
Still, in a bit of bad timing, auto brands the puzzle that has yet to be fully solved. America, Amazon plans to launch a new storefront that
now face a 2024 full of macroeconomic will allow people to purchase cars through the Amazon
headwinds (including levelling-out of growth And perhaps the most important source ecosystem. At the same time, it will still be up to registered
in China) that could depress demand – even of consumer hesitation for electric vehicles Hyundai dealers to list cars, update inventory, and set
as supply chains remain more fragile than is price. In the US and Europe especially, discounts and prices. After they order online, consumers
manufacturers would like. brands’ electric vehicles sell at a significant will still have to pick up their purchases in person at the
premium over conventional models with dealership. The objective of this multi-channel partnership
True, most analysts are still expecting the comparable features. And that gap isn’t set is ‘to make customer lives better and easier every day’.
global car industry to grow in 2024. But hopes to close in the near or even medium term,
for a multi-year run of exceptionally strong barring any further breakthrough innovations
growth are dissipating. (Such a run would in battery production.
have been especially beneficial for American
car brands, who missed out on some of 2023’s As an all-electric range, Tesla has never had
rally due to labour strikes.) to face those same kinds of intra-brand
cost comparisons. It does, however, face a
One reason for slowing sales growth? Higher more unique challenge: how to manage its
interest rates, which have made for more value credentials as Tesla’s range expands
painful car loan and payment terms for the to encompass both luxury and entry-level
average consumer. propositions. Of all the ways that Tesla
has bucked branding conventions for the
category – no big ad campaigns, years
between model updates – its ambitions to
be both a mass and luxury brand at once is
quietly one of its most radical.

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AUTOMOTIVE

Luxury credentials, after all, are not easy

to win. Once secured, though, they can
allow for a kind of ‘luxury multiple’ that
benefits stock market valuations and brand David Friedman Loïc Pean
valuations alike. (See the success this year of
Ferrari, whose ultra-luxury, high-performance
VP, Brand Solutions Senior Director,
positioning has always allowed it to make Strategy Insights
more money off of selling fewer cars – thus [email protected] [email protected]
sidestepping some of the chip shortages that
bedevilled the rest of the industry.)

At the same time, Tesla’s factory-line We’ve seen an increasing focus on emotional The popularity of motorsports as
innovations have given it a more-than-credible or perceptual differentiation in auto brand entertainment is surging globally. And
shot at disrupting the mass car market too marketing. In part, this shift is just good brand what we’ve seen accompany this is an
– not just in the West, but in huge emerging building – you never want to be purely functional. uptick in brands attempting to leverage
markets like China and (eventually) India. And But it’s also driven by the reality that for most their motorsports brand as a differentiator
Tesla’s sustainability mission, of course, calls consumers, the apparent quality gap between among consumer more broadly. Motorsports
for hastening the shift toward electric for all brands has narrowed, and will continue to narrow. is an attractive marketing play for legacy
drivers, not just luxury enthusiasts. Even when you look at design codes – like the brands because it’s an area where startup
shape of car exteriors – there’s more sameness challengers just don’t compete. That’s
It remains to be seen whether Tesla will than there used to be. With some vehicle classes, because those startup brands are building
confirm industry speculation and introduce like compact SUVs, when you round up the major out their primary ranges – whereas for legacy
a new model this year priced even lower competitors and view them from the side, it can players, motorsports divisions are essentially
than its Model 3 and Y offerings. But even be hard to tell the different models apart. sub-brands of their performance divisions.
without that, Tesla CEO Elon Musk has not
shied away from price cuts aimed at keeping
Tesla at the forefront of entry-level value for
electric cars in Western markets.

Alongside Musk’s gambling instincts, some

credit for Tesla’s price moves should probably
go to the emerging class of Chinese electric
car brands, led by BYD. BYD’s main export
model for Western Europe sells for around
$20,000; domestically, the brand’s Seagull
sells for around $12,000. (Going forward, these
prices could fall even further, as several Chinese
brands are currently locked in a price war to
become the standard-bearers of the Chinese
New Electric Vehicle revolution.)

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What’s more, as the Chinese economy cools, to grow in America. There, however, they
it seems likely that Chinese NEV brands’ will have to compete not only with the big
ambitions will increasingly shift to overseas US brands, but also with Asian players like Anang Jena
markets. In this realm, BYD is hoping to Honda, Hyundai, Kia, and Toyota, all of which Executive Vice President,
consolidate its early lead among the Chinese did strong business stateside in 2023.
marques by opening up new plants in Brazil, Automotive Sector Lead,
Hungary, Thailand, Uzbekistan, Indonesia, Toyota, most notably, came in as a strong Insights Division
and Mexico. (However, BYD’s manufacturing number two for US auto sales last year [email protected]
push abroad has also raised alarms among (behind only GM). This was just one national-
Western governments with domestic car level success that saw Toyota retain its title
industries to protect). as the world’s top-selling auto brand, and as
our second most valuable Automotive brand. India is no longer a small-car country. SUVs have become
This year, Western brands have a double almost 60% of the market these days. And interestingly,
task with respect to BYD and its compatriots. A few years ago, even as its sales remained some of the brands that had been making SUVs the longest
They will not only have to defend against strong, Toyota was being dismissed in some were the slowest to adapt their marketing to this new reality
Chinese brands’ expansion into Europe and corners as a laggard for its reluctance because they had had so much success in the past with more
the Southern Hemisphere. They will also to shift entirely toward fully electrified ‘traditional’ SUV marketing codes: off-roading, ruggedness,
have to work hard to defend their business vehicles. Toyota’s assessment, though, was toughness. As a result, their sales stagnated in an exploding
in the Chinese market, too. that it retained a significant brand equity market. But once they expanded their focus to emphasising
advantage in the hybrid space thanks to the attributes that today’s SUV buyers are more interested
The brands with the biggest presence in its pioneering Prius range. Furthermore, in – sophistication, comfort, assurance, and an almost
China have vowed to meet the challenge Toyota wagered that hybrids represented the sci-fi embrace of technology – they began to regain and
head on, through aggressive brand building best option for most consumers looking to even exceed their old market share.
efforts and new product launches. This smooth their transition toward electrification.
cohort includes names like Audi, Volkswagen, BMW made a similar calculation this decade:
Tesla, and Mercedes – for instance, Mercedes Its hybrids, too, have found favour among
plans to introduce 15 new models to Chinese consumers who still want the familiar
drivers this year. comforts of the old luxury car models.

At the same time, European brands are Now, looking toward the near and middle
looking toward growth in the US as a potential term, many Western automakers have
counterbalance to Chinese market dynamics. decided to pull back on their commitments
This is especially the case for those brands – to fully electric vehicles. That doesn’t mean
like Volkswagen’s – that have the most room that they’ve shifted back to combustion
engines – rather that they’re favouring a
revised mix that includes more ‘classic hybrid’
and ‘plug-in hybrid’ models. The electric
transition rolls on, in other words… but at
a pace that is more ‘rapid evolution’ than
‘overnight revolution.’

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B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO PAY 2024 BR AND VALUE FIND NEW SPACE

$10,429 M $23,163 M
THE RIGHT PRICE
In order for BMW to grow its brand value further and
Ferrari’s clear sense of Difference has predisposed recover to the peak levels it saw in 2022, it must venture
+34% vs 2023 more consumers to pay its elevated, luxury prices, +11% vs 2023 into new spaces and work to redefine the category.
particularly in Germany where it is a Justified
Ferrari has a strongly differentiated profile globally. Premium brand. BMW climbed one rank this year to become the third More hybrid and electric vehicles could be one
It is perceived as having strong provenance, being a most valuable Automotive brand. It also features in route for BMW to achieve new growth, but so could
specialist brand, and having a distinctive look and Ferrari’s extensive customisation programme serves the Global Top 100 at number 80. exploring other tech integrations; for instance, BMW
feel. Last year saw record sales for the brand – with as a further best-in-class inducement for the has partnered with Meta to explore how AR and VR
full order books through 2025. marque’s fans to pay more – while getting exactly Consumers have very strong predisposition towards can work inside a vehicle.
what they want for their money. BMW globally. In the US, BMW is the leader of the
luxury cars subcategory and is well known as a
Ferrari’s global equity convenient, trustworthy, and distinctive brand. Momentum in the US market
Strategic Pricing Matrix (Germany)
MEANINGFUL 81
70
Higher

Great Value Margin Opportunity Justified Premium

DIFFERENT 125 LEXUS FERRARI
MERCEDES-BENZ PORSCHE
SALIENT 77 NIO
TESLA
BMW

Future Power
Value Average High-Priced
Pricing Power

AUDI JAGUAR ASTON MARTIN

BMW MASERATI

Commoditised At Risk Overpriced

RANGE ROVER BENTLEY

LAMBORGHINI
ROLLS-ROYCE
30
Lower

0 20
Penetration
Lower Relative Price Higher

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DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Difference is a key characteristic in

driving value for Automotive brands

The Top 10 Most Valuable Automotive Brands are

more differentiated than the rest of the category
on average.
2023 BRAND VALUE $2,008 M 2023 BRAND VALUE $1,712 M
And this Difference is driving greater value for
the Top 10 through supporting higher margins. Mahindra flipped the script for marketing Tata Motors has introduced new EV
Highly Different ranked brands like Ferrari and BMW SUVs in India – with improved Meaningful innovations to the Indian market while
may not sell the most units, but they command Different Salient scores to show for it. improving its Meaningful Difference.
an elevated premium. Meanwhile, top brands like
Toyota, Honda, and Mercedes enjoy strong sales MEANINGFUL +27 MEANINGFUL +28
volumes and margin-boosting Difference.
DIFFERENT +34 DIFFERENT +20
SALIENT +28
Average Different index
Automotive brands 2024-2022

GLOBAL ALL
TOP 10 OTHER

120 92 2023 BRAND VALUE $1,461 M 2023 BRAND VALUE $2,144 M

Royal Enfield came back from the brink Hongqi has repositioned itself as a
of bankruptcy by repositioning itself as a domestic, tech-forward luxury marque –
practical motorcycle for daily use. and recently debuted in the China Top 100.
Demand Power Index
MEANINGFUL +5 77 82
60
BOUGHT LAST +4.1 45

2018 2019 2021 2023

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AUTOMOTIVE

AC T ION
P O IN T S /
B R AND
1
EDUC ATE O N NE W
2
E XPLO RE ALTERNATE
3
E XPLO RE

B UI LDI NG BEHAVIOUR S
Many electric car buyers are first-time adopters of
the technology. And brands are finding that while
DE SIGN CUE S
In a bid to re-engage the US market, Volkswagen
has turned back to the past. VW’s forthcoming ID
CO LL ABO R ATIO N
In Asia, the rise of electric mobility is leading to new
forms of collaboration between brands. In Japan,
the learning curve for ‘going electric’ may not be Buzz bus takes design cues from the brand’s classic Honda has partnered with Sony on its software-
apparent when buyers first drive their cars home, it camper vans of yesteryear, with their codes of forward Afeela marque, while also exploring a tie-
is real. Without proper education, consumers may sociality and freedom. Looking ahead, executives up with Nissan to investigate ways to manufacture
have experiences that turn them off an electric car have also hinted that a revival of design cues from more affordable electric cars. In China, Huawei is
brand – or away from electric cars altogether. A the iconic ‘Beetle’ model is not out of the question. working with four different large automakers to roll
good example of this is the relationship between But VW’s biggest bet is its revival of Scout, a out new concepts. Not all of these collaborations
range and weather. Some new owners may feel defunct US brand of SUVs and open-backed trucks involve co-branding: NVIDIA has signed deals with
betrayed to realise that on especially cold days, that traces its heyday to the carefree 1960s – it a wide range of Chinese automakers as a supplier
many electric models’ ranges drop below the usual is now being revived as a line of electric off-road and research partner, but is not ‘getting into the car
distance. They don’t always know that a few simple vehicles. The lesson here is that electric vehicles business’ in the way that Sony is. Still, whether high
actions – like programming your car to warm up can look like anything – not just the high futurism or low profile, the collaborations roll on: Toyota and
an hour before your planned departure time – can of Tesla or the high luxury of BMW or Mercedes. BYD, for example, have formed a joint company
mitigate against this effect. Brand communications Perhaps there’s a third way, a more differentiated to lead research and development on battery
therefore have an important role in educating path, that involves playing with codes of nostalgia, technologies. And even Tesla has begun to source
new purchasers (especially because not everyone fantasy and romanticism. That’s what VW is some batteries from its rival BYD. One impetus
actually reads car manuals). One of Tesla’s recent betting, at least, and thanks to electric vehicles’ here is a recognition that the need to solve electric
ads, for example, touts the ability to ‘defrost your lack of a combustion motor, its designers now have vehicles’ affordability challenge is so important,
car from bed’. This not only extends drivers’ range, more room (literally) to play around with retro so existential, that to not collaborate would be
but also saves them the hassle of scraping off snow design codes and flourishes. In a world where car irresponsible for the future of the category.
and ice by hand. design has largely converged into the most efficient
shapes, consumers can still value the sense of
difference alternatives can bring.

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BUSINESS TECHNOLOGY AND SERVICES PLATFORMS

BUSINESS TECHNOLOGY AND SERVICES PL ATFORMS TOP 20: DEFINITION:

MICROSOFT
The Business Technology and Services Platforms category includes brands that provide (i)
(US$M) IT systems and software infrastructure, including software, middleware, cloud computing,
components for manufacturing of smart/IoT devices or (ii) Software and applications for

AMAZON WEB SERVICES

design, publishing and digital media, and business processes like accounting, finance,
productivity, sales, teamworking or messaging, or (iii) IT consulting/outsourcing for business.

NVIDIA
ORACLE
IBM SOMETHING NEW
ADOBE I N T H E C LO U D /
ACCENTURE
GOOGLE CLOUD B U S I N E SS T EC H B R A N D S
CISCO MEET THE AI MOMENT
SAP
QUALCOMM
AMD
SALESFORCE
INTUIT Category Brand Value
ADP Year-on-Year Change
TATA CONSULTANCY SERVICES
INTEL
TEXAS INSTRUMENTS Business Technology and Services
SERVICENOW Platforms Top 20 Total Brand Value
INFOSYS
Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

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The total brand value of the Business Technology and

Services Platforms category increased by a soaring 45%
Alistair Nel
this year amid mounting excitement around AI. Now Senior Director,
comes the harder part: making good on the hype. Business Development, UK
[email protected]
There’s no doubt that AI itself will have a But if the above represents the promise of
transformative effect on the way many enterprise AI more generally, the specific
businesses operate. Back-office operations, matter at hand is: Which brands will emerge
coding, security, IT, records management, as the best-in-class options for actually With recent advances in AI and cloud computing, it’s just
data analysis – these are areas where AI delivering great business tools – tools that are astounding what this current generation of creative design
can have a major impact in driving business not only powerful analytically, but also easy software can achieve. These days, with Adobe, Canva and
efficiencies and savings. to use and priced for value? other competitors, you can now generate more, better
creative concepts on a smaller budget. Think of how this
Cloud computing, already a revolutionary There is, in other words, still an open question will benefit not just B2B brands, but brand building as a
innovation in its own right, promises to of which of these businesses will win the day discipline generally! These days, there are tools that allow
become an even more powerful offering as as brands. This matters because it’s brand you to generate a hundred concepts within a few seconds
AI continues to advance. That’s the premise power that will guard against the risk that – and then, if you have access to testing tools like Kantar’s
for a recent tie-up between Accenture and a company’s AI innovations get lost in the Concept AI or Link AI solution, you can test them at scale,
Google Cloud – as well as similar ‘AI + Cloud’ ever-expanding fray. After all, it’s not just too. It adds up to a whole new workflow for finding the best
offerings from IBM, Amazon Web Services the legacy players in this category who content to put in front of consumers.
(AWS), Microsoft Azure, SAP, and Oracle. are angling for the top spot – it’s also a
Broadly, the pitch is that business technology gaggle of hungry challengers inspired by the
brands now have the ability to build custom breakthrough rise of OpenAI.
AI solutions built around, and trained on,
their clients’ unique cloud architectures. Still, with respect to the shift toward ‘AI +
cloud’ solutions specifically, it matters that
From there, the thinking goes, businesses clients’ existing cloud architectures have
can more easily surface insights, identify largely been built by the biggest brands
efficiencies, detect irregularities, and in our ranking. Many clients will rather go
standardise learnings across their organisations. with who they know than build a whole new
And that’s just during Year One – because the IT approach. For this reason, and because
most exciting thing about this generation of of the high costs of driving AI innovation,
AI models is that they can continually learn, large existing brands will enjoy a first-mover
grow, and update their operating models. advantage among business clients interested
in AI transformation. This is a further step in
the process of value concentration (around
existing category giants) that has also been
hastened by the rise of cloud computing and
advanced chip manufacturing.

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Another advantage the big existing players

enjoy? Built-in, elevated perception around
Meaningful Different and Salient. All of which
contribute to attributes like trust, leadership, Soumen Mukherjee Jeff Herrmann
and innovation credentials.
Managing Partner, VP, Global Client
For now, it’s fair to say that the rising Brand Solutions Director
AI tide has lifted many boats, certainly [email protected] [email protected]
among the 20 brands that make up this
ranking. The market has rewarded leaders
in cloud services like AWS, Google Cloud,
and Microsoft, all of whom have also Intelligent threat detection and threat Probably the most important overarching trend
increased their brand equity over the past management are going to be big trends in in tech right now is the way that the enterprise
two years (with Amazon leading the pack 2024. It’s about new, smart AI technology market has just come to dominate the industry
on Difference). But there is also new investor that can look ahead to vulnerabilities in this decade. Tech these days is really not
optimism around brands like SAP and your network and your systems – and doing consumer-led, it’s B2B-led. I recently read an
Oracle that combine cloud services with IT all of this proactively, before new platforms article by Cowboy Ventures’ Aileen Lee that
software (and now, AI) – as well as brands and applications are deployed rather than described how 78% of unicorns today focus
with strong consultancy practices like the troubleshooting after the fact. In the old days, on B2B – compared to a decade ago, when
aforementioned IBM and Accenture. you’d pay someone to hack into your system consumer applications dominated by a similar
once it was operational and then you’d put ratio. The competitive edge increasingly belongs
Chip players like AMD and NVIDIA have the safeguards in. But threat management to large-scale enterprise entities equipped with
also benefitted handsomely from the swing is elevating to a whole different level. It’s not the financial muscle to invest in NVIDIA’s H100
towards AI computing. And going forward, going to be apparent to most users, but it will GPUs for their data centres, a pivotal asset for
AI edge computing – in the automotive and be a big driver of business. constructing Large Language Models (LLMs).
Internet of Things sectors in particular – is
also crucial to the turnaround plans of brands
like Qualcomm and Intel.

So far this decade, NVIDIA has been

especially successful at moving from strength
to strength, even as industry trends have
shifted underfoot. NVIDIA chips were in high
demand during the years of peak enthusiasm
for cryptocurrency and the metaverse, for
example. Now, early sentiment has been
equally positive for the brand’s Blackwell GPU
architecture for AI computing.

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All of this has led NVIDIA’s stock price to

soar, which has had the effect of creating a
secondary publicity wave (and brand halo) for
the chipmaker. Of course, NVIDIA is no meme Subhashish Dasgupta
stock, and is aggressively pushing into new
spaces like software, where it has launched a Senior Client Leader and AI
collaboration platform for 3D design as well as Commercial Lead, North America
an AI enterprise ‘operating system.’ [email protected]
Perhaps the only business story to rival
NVIDIA’s this past year has been that of
category leader Microsoft. To recap: In 2022, The most impactful applications of AI will likely emerge
the company suffered from a full-year slump. from targetted, industry-specific solutions trained on
Then, in early 2023, Microsoft announced a smaller datasets. Rather than relying solely on LLMs that
massive investment in OpenAI, which was have garnered significant attention, we’re seeing exciting
soon followed by the debut of ChatGPT-4. developments in areas like healthcare. Businesses are creating
After that, Microsoft announced ambitious customised tools for tasks such as diagnosing from X-rays or
plans to incorporate AI ‘copilots’ across analysing medical charts to recommending treatment options
products like Office, Teams and GitHub. for physicians to discuss with patients. What’s noteworthy is
that many of these powerful AI tools won’t necessarily require
Thus began a stock market and earnings run distant cloud servers; they can be localised on devices using
that helped the brand’s market value reach chips from brands like NVIDIA, thanks to close-proximity ‘edge
all-time highs. In 2024, Microsoft became computing’ systems. This trend toward more specialised and
the second company in history (after Apple) localised AI applications holds great promise for solving real-
to reach $3 trillion in market capitalisation. world problems efficiently and effectively.
Behind the scenes, meanwhile, Microsoft’s
brand equity for IT software has also
strengthened dramatically since 2022.

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B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO BUY 2024 BR AND VALUE BE MEANINGFULLY DIFFERENCT

$70,408 M Google Cloud offers digital transformation to a

broad spectrum of clients in industries including
$201,840 M TO MORE PEOPLE

NVIDIA is both more Different versus its competitive

+74% vs 2023 entertainment, retail, healthcare, and finance. +178% vs 2023 set, and Different versus expectation for its size.

Google Cloud recovered from a dip in 2023 to Over time, Google Cloud has grown its Meaningful Top 100 highest riser NVIDIA creates graphics Over the past three years, NVIDIA has grown both its
outperform the category as a whole in 2024 – it has and Different connections to predispose more processing units (GPUs) and is a key player in shaping sense of Difference and its Meaningful connections
grown 33% since 2022. people within this broad B2B audience. advancements in AI, high-performance computing, with its business audience. This has in turn built its
gaming, and creative design. NVIDIA enjoys high Pricing Power, and ultimately its brand value.
Increasing demand for cloud-based services, AI, and investor confidence in its strategic direction and
scalable infrastructure has helped Google Cloud to technological prowess.
convert brand equity into rapid growth. Brand equity in the US B2B Suppliers, USA

150 Brand Strengths: 150

Google Cloud
Brand Strength: 2024
Intel
Microsoft DISRUPTIVE
MAKING LIVES BETTER Azure
AWS Nvidia
Samsung

How Different your brand is

2024
SPECIALIST
How Salient your brand is

Google Cloud Nvidia

2020 2020 Cisco
Oracle

50 150 50 150
How Meaningful and Different your brand is How Meaningful your brand is

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DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Business Tech category value has

grown by over 70% in three years

Overall, the category is up 9% versus 2022. For 2024,

category performance has been fuelled by growth
in AI, with businesses relying on high-tech GPU and
cloud infrastructure to process large volumes of 2024 BRAND VALUE $1,341 M 2023 BRAND VALUE $4,342 M
complex data.
Bechtle combines IT services with the iFlytek specialises in voice recognition
This year, seven brands performed better than direct sale of hardware and software software, utilising AI to bridge the gap
expected: NVIDIA, Oracle, Adobe, Google Cloud, IT products. between humans and machines.
SAP, AMD, and Salesforce.
In 2024, Bechtle increased its brand value Its solutions cover various domains
by 12%, rising three ranking points in the including education, communication,
Business Technology & Services Platforms Germany Top 50. music, and intelligent toys.
Top 15, growth over time (US$M)

$2,143,284
$1,965,311

$1,491,126
$1,250,752

+57% -24% +44%

2023 BRAND VALUE $9,361 M

2021 2022 2023 2024
HCLTech is an Indian multinational IT
consulting company with a presence in
52 markets.

It offers solutions in areas such as AI-

driven software development and
engineering lifecycle management.

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AC T ION
P O IN T S /
B R AND
1
E XPERIEN CE IS
2
E XPERIMENT WITH
3
UNLE A SH

B UI LDI NG E VERY THIN G

The AI inflection point occurred so recently that
it’s fair to say that we’re all ‘new users’ to a degree
PRI CIN G
For the most part, the typical enterprise software
paradigm of ‘price per user per month’ has
CRE ATIVIT Y
Even with the rise of free or ‘freemium’ challenger
brands like Figma, Canva and the open-source 3D
– even the people in charge of rolling out new prevailed for AI services, including across most of graphics engine Blender, major ‘creative software’
AI tools. In this context, category winners and Microsoft’s Copilot offerings. But the brand decided players like Adobe have continued to do healthy
losers will be determined by more than just the to try something different for its Copilot for Security business. In part, that’s because the challenger
raw horsepower of brands’ AI tools. It will also offering: a consumption-based model based on brands have sourced most of their user base from
matter how easy these tools are to learn and ‘security compute units.’ The way this works is that new or novice creators who aren’t necessarily ready
teach at scale within clients’ organisations – and more complex prompts and summaries cost more for more professional software anyway. Going
how supported clients feel by their contacts at the units. According to a recent report from CNBC, forward, however, AI tools could scramble the
Business Technology and Services Platforms brands the pricing “is designed to keep expenses low for playing feel by reducing skills barriers and hardware
that are leading the AI charge. In other words, organisations that experiment with the tool while requirements. But there’s another way of looking
excellent experience – and a human touch – is more scaling for power users”. With more dynamic at the rise of generative AI and cloud computing:
important than ever as platforms and clients work pricing structures, the thinking goes, brands can Perhaps these disruptions will create hundreds of
together to unlock AI’s fullest potential. safeguard value perceptions – chiefly by preventing millions of new ‘creators’. With this burgeoning
a scenario in which clients feel they’ve overpaid for client base, there will be more routes for creative
The advantage existing brands have in winning product capabilities they don’t yet fully understand. software brands to win at all price points, so long
AI business is that clients trust them to deliver as they stay attentive to the changing needs and
a certain familiar level of experiential polish. demographics of their users.
They trust, for example, that Adobe’s Firefly or
Salesforce’s Einstein or SAP’s CoPilot will slot
seamlessly into those brands’ other tools, with
minimal friction. Delivering on that experiential
promise should be one of the top priorities for
product teams. Another, of course, is driving
tangible business results for clients.

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CONSUMER TECHNOLOGY AND SERVICES PLATFORMS

CONSUMER TECHNOLOGY AND SERVICE S PL ATFORMS TOP 10:

APPLE
DEFINITION:
The Consumer Technology and Services Platforms category includes manufacturers of
(US$M) consumer electronics products, including TVs, home audio equipment, game consoles,
digital cameras, phones, personal computers, laptops, printers, keyboards, etc.,
as well as other electronic products used at home. It also includes online platforms

SAMSUNG
which provides service to consumers.

S M A RT T EC H G E T S
XBOX S M A RT E R /
UBER B R I N G I N G A I TO
HUAWEI T H E E V E RY D AY

SONY
MEITUAN
AIRBNB
Category Brand Value
Year-on-Year Change

BOOKING.COM
MI
Consumer Technology and Services
Platforms Top 10 Total Brand Value

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

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In its second year of tracking by Kantar BrandZ,

the Consumer Technology and Services Platforms
category grew by 15% year on year.
Rajesh Kumar
Global Client Director
Taken together, the brands in this category Samsung, meanwhile, has performed
reflect the ways that consumer tech has especially well in India, where it is opening [email protected]
grown to encompass branded services like new showrooms and recently reclaimed
Uber and Airbnb alongside smartphones, its title as India’s biggest brand by market
televisions, and gaming platforms. share. This decade, Samsung has sourced
In India, basically everyone is playing the premium game
much of its growth from luring consumers
now. Previously, a lot of Chinese brands emphasised their
Among this diverse array, however, (in India, and around the world) towards the
entry-level or mid-range offerings as part of a strategy
smartphone sales – and smartphone brands more premium end of its range. The brand
to compete on price. But today, these same brands are
– continue to drive the most value within recently reported that between 2020 and
focusing on their flagship series. It’s about moving up the
the category. It’s no surprise, then, that 2023, it increased the average selling price of
ladder so that Apple and Samsung cannot stand apart as
Apple and Samsung respectively remain Samsung phones by nearly $100.
the only premium offerings on the market. For the Chinese
the category’s number one and two most
valuable brands. brands, this means premiumising their design and features
Looking forward, Samsung has announced
its ambition to become the leading brand – but it also means implementing trade-in programmes
This year, Apple ended Samsung’s 12-year run in the AI smartphone market. The brand’s so that a wider range of consumers can still afford your
to become the world’s top smartphone seller Galaxy 24 series of phones, launched in phones. Overall, there’s a recognition that the real money
by units sold, according to the International early 2024, offers a preview of what this is not made in the mass market.
Data Corporation. Apple also notched a leadership could look like. A new photo
notably strong holiday period at the end of tool called Generative Edit allows users to
2023, proving that customers were finally erase and rearrange elements in a photo
ready to upgrade their iPhones in greater on the fly. Meanwhile, a Google tool called
numbers following a sector-wide slowdown in Circle to Search – also found on the Google
upgrade frequency. Pixel – allows users to search for circled
text or image elements. There are also new
The marketing campaigns for Apple’s newest translation, grammar, and writing tools built
phones touted features like an advanced into the phones’ keyboards.
chipset and a titanium body. But connected
accessories and services have become just as Apple, for its part, has said it will announce
important to Apple’s premium positioning in and launch its AI smartphone features later
the smartphone market – and have helped to in the year: An upgrade to Siri seems all but
offset declines in desktop and tablet sales. assured. For now, though, the highest-profile
brands using generative AI in the consumer
sphere are not hardware manufacturers like
Apple or Samsung. Instead, it’s the likes of
OpenAI and its partner Microsoft that are
leading the way, with media players Google
and Facebook close behind.

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At Kantar BrandZ, Microsoft is classed as a

business services brand because it derives
the majority of its revenue from B2B work.
But it’s through programmes like Microsoft Alistair Nel Nick Snowdon
365 Copilot or Google’s Search Generative
Experience that the average consumer may get Senior Director, Business Senior Client Lead,
their first taste of what AI can do for them. Development, UK Brand, Kantar UK
[email protected] [email protected]
Do AI innovations mean that hardware is
irrelevant? Not at all. But the landscape
is shifting in ways that could complicate
consumer tech’s ‘premiumisation push.’ In South Africa, ‘load shedding’ in the form of We’re starting to see a big shift away from
How important of a differentiator will a scheduled power outages has become a fact hardware propositions and towards software
physical camera lens be, for instance, in a of life. Each day, you might only get one or two propositions. I’m thinking of Google Pixel and how
future where we’ll all have advanced image hours of electricity from the power grid. Generally, its recent campaign was centered all around its
post-processing at our fingertips? people have pivoted and installed either solar AI-driven photo editing software: how you can
panels of inverters (massive batteries plugged use it to edit someone out of a picture entirely
Beyond the rise of AI, the other big story
into the mains) as an alternative. Due to this, the from your phone, for example. It’s different than
this past year is China. A resurgent Huawei
next wave of innovations in sustainable products messaging that has typically emphasised ‘this
is once again challenging Apple for control
(specifically in appliances and technology) could processor chip’ and ‘these lenses’ and ‘how many
of the top end of the domestic Chinese
come from South Africa. If we’ve learnt anything megapixels’. And now Samsung is building on this
smartphone market. Huawei had struggled
from the past, powerful and industry-changing shift with its campaign around ‘circle to search’.
in recent years after the US cut off access
innovations come from a genuine need that’s And that’s just the beginning, because on the
to 5G phone components, but recently the
crowdsourced – in this case, energy efficiency. consumer side, the AI integrations that consumers
brand has found a workaround.
People need to get on with their lives and day- are most going to notice, regardless of brand, are
to-day routines: wash clothes, cook food, access software features.
In general, even though Chinese smartphone
brands have lost brand value in the short the internet, charge their phones. With minimal
term amid a larger swoon in Chinese tech to no electricity, people are turning to appliances
stocks, their future remains bright. Chinese that require less energy, such as air fryers or high-
consumers like the idea of supporting local capacity power banks. But, these are on-the-
brands, and the Chinese government agrees. market products; what about the next wave? We
And that’s just in the domestic market: should keep an eye on how South Africa could
Abroad, brands like MI, Oppo, and Vivo have crowdsource innovation and what it could produce
themselves embarked on a premiumisation either through adaptions to existing products (a
push in a bid to mature alongside the 10-watt hairdryer for example), or the invention
upwardly mobile, middle-class consumers of new alternatives entirely. These use cases
that already favour these players. and innovations won’t only benefit developing
countries with a shortage of electricity, it could
also benefit developed countries with potentially
less reliance on the grid, a reduction on energy
prices, and impact on the planet.

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Beyond smartphones, major areas for tech

growth in the consumer world include home-
based integrated apps (security devices,
doorbells, video surveillance cameras, Jack Hamlin
child tracking solutions, and heating
management). Travel, leisure, and mobility Global Consumer Insights
services have emerged as another big Director
growth area coming out of the pandemic,
[email protected]
as evidenced by extremely strong year-on-
year growth for Uber, Airbnb, and Booking.
com. All three have grown by embracing new
segments (for example, Uber Teen) and new Apple recently entered the Virtual Reality/Spatial Computing
technologies (Booking.com’s AI trip planner, VR/XR space with the Vision Pro, its first new product
Airbnb’s AI photo tours). category launch since the Apple Watch. Apple is an
industry bellwether – in part because of its ability to set
In the gaming world, both Xbox and Sony’s category shifts in motion by promoting app and ecosystem
PlayStation division have found themselves
development. Prior to the Vision Pro’s launch, 60% of
servicing a relatively stable base of 200
VR devices were owned by Android smartphone owners.
million console gamers. That user base
Meta has invested heavily in the space, with its CEO Mark
stagnation is not ideal, and in the long
Zuckerberg recently releasing a video highlighting why its
term, Xbox hopes to recruit more players via
Oculus VR headset is better than the Apple Vision Pro.
cloud gaming offerings and its Game Pass
subscription service. Sony has similar aims
A high tide rises all boats. Apple’s entry into the VR market
for its PlayStation Plus service – though its
will increase adoption of VR devices amongst iPhone owners
overall strategy has catered more toward
existing gaming enthusiasts via a busy – further bolstering Apple’s ecosystem whilst growing the
release schedule of console-exclusive titles. overall VR category. Zuckerberg may yet find Apple’s entry
fortuitous rather than fearful!
But that’s the longer-term view. This past
year, both Xbox and PlayStation served as
healthy profit engines thanks to a spate of
recent price increases for games – as well as
an ongoing shift toward digital downloads
of games and add-on content (and away
from more costly distribution via physical
discs). Xbox also benefitted this year from its
blockbuster acquisition of Activision Blizzard.
Game on!

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B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE FIND NEW SPACE 2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO PAY

$16,732 M $40,074 M
THE RIGHT PRICE
Booking.com grew up in the Netherlands but has
expanded to be the number-one brand in a wide Samsung predisposes people to buy (and pay more)
+50% vs 2023 range of markets – including across the EU and +24% vs 2023 for smartphones by building strong brand equity and
into Latin America. The brand has become a great Pricing Power – with notable strength in ‘Great range’
The travel industry is still recovering from the global example of finding new space by exporting its Samsung operates in many product sectors, but few and ‘Fair prices’.
pandemic – with digital brands like Booking.com successful model to new geographies. as profitable as smartphones – selling over 225 million
rebuilding revenues and now seeking to expand services. in 2023, about 20% of all smartphones globally. The positioning of its price between Apple’s super-
premium models and many ‘me too’ brands allows
Booking.com has supported this push with new Travel agents, Netherlands Mobile phones account for more than 50% of Samsung to be more accessible – with strong
brand-building campaigns that sit alongside more Samsung’s global brand value, and around $18bn associations of fitting well into everyday life.
traditional performance-based promotion. 70 in revenue.
Booking.com
Strategic Pricing Matrix
Global brand equity Global brand equity

Higher
Great Value Margin Opportunity Justified Premium

MEANINGFUL 154 MEANINGFUL 147 USA

CANADA
ITALY
UK
BRAZIL FRANCE

DIFFERENT 127 DIFFERENT 128

Future Power

MEXICO SPAIN
S. KOREA S. AFRICA
GERMANY

SALIENT 165 SALIENT 177 Value Average High-Priced

Pricing Power
Commoditised At Risk Overpriced
30
0 25
Penetration

Lower
Lower Relative Price Higher

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DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Consumer Tech brands have Brand equity averages 2024

remarkably strong brand equity All brands Global Top 100 Consumer Technology

Consumer Tech brands enable and enhance

everyday life, giving them a real connection
in the minds of consumers. The Top 10 2023 BRAND VALUE $3,485 M 2024 BRAND VALUE $573 M
brands have, on average, the highest 141
Difference Index of any category – and the 136 135 Chinese consumers are travelling again Online takeaway food-ordering
second-highest Meaningful. 127 – and booking platform Ctrip was the platform Glovo is known for its strong
121 119 second-fastest brand value riser in the communications and wide range of
The most Meaningful brands within the 2023 China Top 100. delivery services.
Consumer Technology and Services Platforms 100 100 100
category showed additional growth this year. DEMAND POWER +12 MEANINGFUL DIFFERENCE +27
PRICING POWER +3 SALIENT +34
MEANINGFUL +3

Meaningful Different Salient

2024 BRAND VALUE $3,051 M

Founded in 1973, Localiza has grown to

become the biggest car rental company
in Latin America and now operates across
nine countries. It made its Kantar BrandZ
rankings debut in the 2024 Brazil Top 50.
62
40

Demand Power Bought last

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AC T ION
P O IN T S /
B R AND
1
TO NE IT D OWN
2
CHARGE UP
3
SHARE

B UI LDI NG In its home electronics business, Samsung has

become the leading provider of what might be
Advanced smartphones are sold all around the
world – including in markets with less-than-stable
STR ATEGIC ALLY
Ongoing antitrust actions from governments
around the world may soon force consumer tech
described as the tech world’s answer to ‘quiet electricity grids. And for the most part, consumers brands to open up their ‘walled gardens.’ Today,
luxury’. Its low-profile Frame TV concept remains a have found their smartphones to be a respite, not Xbox and Google have already shown that a bit
hit – and now Samsung has expanded the Frame a pain point, during rolling blackouts. Why buy of strategic sharing can actually boost brands’
range to introduce a powerful home speaker a TV that might not turn on, after all, when you bottom lines. Last year, Xbox bucked the usual
embedded in a (screenless) art frame. Elsewhere can stream videos even when the power is out? trend of hoarding ‘platform exclusives’ to launch
in its range, Samsung’s innovations around matte Still, at some point, phone batteries do hit zero. a pilot programme that sent four of the brand’s
screen coatings and transparent LED arrays And so today, battery life remains more than a homegrown games to the PS5. The idea is to give
provides similar discretion. And in its smartphone convenience factor for many around the world; gamers multiple entry points into the Xbox brand
accessories offering, Samsung recently launched instead, it’s an essential quality-of-life concern. The universe: whether that’s through cloud gaming
a screenless health tracker ring. The takeaway? hope is that ongoing battery research will lead to on PCs and smartphones, game titles leased to
It’s clear that many affluent customers, especially, a big breakthrough, and soon. In the meantime, Sony, or new launches on Xbox’s flagship consoles.
are willing to pay a premium for more discreet consumers will appreciate any incremental Google, meanwhile, struck a deal to bring ‘Circle to
technology. But also – part of the appeal of discreet innovations brands can roll out surrounding this Search’ to Samsung’s Galaxy models, rather than
technology is that it fits into consumers’ existing most crucial (but underhyped) technical spec. hoard the feature for its own Pixel phones. Google
needs and life patterns, rather than demanding has also signalled willingness to license its Gemini
consumers change their lives to accommodate AI chatbot technology for other brands’ voice
the new innovations. Within the tech world, the assistants. Ultimately, such deals are a bid to be
possibilities for ‘finding new spaces’ may seem more present for consumers in a shifting landscape
limitless – but any successful new brand extension – which marks a departure for category where
should build off of real consumer needs. brands have historically been limited by a need to
stick to their own platforms.

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FA ST FOOD
FA ST FO O D TO P 10: (US$M)

MCDONALD’S
DEFINITION:
The Fast Food category includes quick service restaurants
(QSR) and casual dining brands, which vary in customer and
menu focus, but mostly compete for the same dayparts.

STARBUCKS
KFC VALUABLE, BUT NOT CHEAP/
CHIPOTLE FA ST F O O D ’ S N E W
POSITIONING
SUBWAY
DOMINO’S PIZZA
PIZZA HUT
TACO BELL
Category Brand Value
Year-on-Year Change

BURGER KING
CHICK-FIL-A
Fast Food Top 10
Total Brand Value

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

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FA ST FO O D

This year, the total brand value of the world’s

top Fast Food companies grew 15%, with every
Anyawee
member of the top 10 rising by at least 8%. Mongkolteeraphirom
This is a welcome reversal from 2023, when these Associate Director, Insights
same top brands lost 4% of their value. [email protected]

Just as importantly, many top names In many ways, this shift to out-of-restaurant
notched improvements across metrics consumption has been a dream scenario for In Thailand, the big story is competition over chicken. Not
like Meaningful (Subway, Chick-fil-A) and fast food brands They are able to fulfil orders chicken sandwiches, but fried chicken. Fried chicken is a dish
Different (Starbucks, Chipotle, Taco Bell). more efficiently and cost effectively while that was popular in Thailand long before the global fast food
Such gains increase the likelihood that also benefitting from the higher check values chains came here – it’s essentially a local dish. And that’s why
consumers will stick by these brands as the associated with digital transactions. you’ve typically seen KFC be more popular in Thailand than
category continues to transform. McDonald’s or Burger King. But now, those big burger chains
Partly because of this, even fast food brands are repositioning their marketing and menus to emphasise
In 2024, the ‘delivery revolution’ that began that are currently in the middle of major chicken too. Burger King just launched a new chicken recipe
during the pandemic has evolved and settled strategic revamps – like Subway and Burger with a campaign that emphasised local Thais and local
into a new normal. In the US today, to- King – saw positive same-store revenue growth tastes; McDonald’s has refreshed its communications to
go and delivery orders represent the vast for 2023, giving them extra runway to refresh emphasise that it – not its competitors – actually has the
majority of fast food orders – upwards of their US outposts and launch new innovations. juiciest, best-quality chicken in the country.
85%, by some counts.
Successful international operations have
And brands’ store formats have permanently also provided these ‘turnaround’ brands with
altered to accommodate this shift. By 2025, much-needed breathing room. But really,
for example, Starbucks expects that its overseas expansion has huge upsides for all
traditional ‘third place’ cafes will represent top American fast food brands, regardless of
just 54% of its US stores, down from 61% their positioning at home.
today – all while the chain prioritises opening
new drive-through and takeaway formats. Both Wendy’s and Chick-fil-A, for instance,
are now expanding into the UK as the first
In suburban areas, drive-through locations step for a wider push into Europe. KFC,
with multiple pickup lanes have moved from meanwhile, continues to source the majority
prototype to priority for brands like Chipotle of its business growth from China, where it
and Taco Bell. Meanwhile, on the urban recently opened its 10,000th store.
front, Chick-fil-A recently cemented its push
into New York City by opening its first-ever
restaurant devoted entirely to mobile pickup.

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FA ST FO O D

In China, McDonald’s has chosen to meet

increased competition from local brands
head-on by committing to 1,000 new stores
by the end of this year. The plan is to strike a Shailley Firdous Barry Thomas
balance between local taste innovations (for
example, more culturally informed beverage
Associate Director, Senior Global
options) and promotion of the brand’s global Consumer Insights, India Thought Leader
culinary icons. [email protected] [email protected]

On the latter score, McDonald’s has also

committed to rolling out its McCrispy
sandwich to all global markets by 2025. And In India, the big food delivery aggregators are TikTok has changed restaurant marketing.
it is similarly globalising its ‘Best Burger’ now struggling to keep up the momentum – No one can disagree with that. If you want to
initiative, a major revision that calls for people just want to go out to eat again. That continue to grow with Millennials and recruit
cooking burgers in smaller batches and then is to the benefit of the fast food brands – and Gen Z, you must up your game on social
serving them up as juicier patties with more what all of them are trying to avoid during this media, and especially on TikTok. It’s just where
sauce and melted cheese. ‘comeback’, is excessive discounting. Instead, these consumers spend their time these days.
they are all investing in brand building in an Millennials, more than any other cohort, are
The burger initiative is a recognition that unprecedented way. For example, we’ve seen having dining decisions influenced and inspired
product excellence has become all the more a massive brand overhaul for Dunkin’ Donuts by TikTok. Studies show that more than half of
important for fast food brands as in-store – which is now just called Dunkin’ – as well as the platform’s Millennial users have visited a
experience has declined in relevance. Put a focus on design and experience across the restaurant and/or ordered food from a restaurant
differently – in a takeaway context, fast food board. There’s new energy around cafés with after seeing it on the platform. McDonald’s,
brands truly live and die by the quality of brands like McDonald’s and Burger King focusing Chipotle, and KFC all show up really well in these
their food. on expanding their café business. YUM! Brands spaces. Chick-Fil-A is doing a better job. The way
is investing heavily in all its brands – Pizza Hut, Chipotle’s menu works, you’ll see an influencer
This quality imperative is all the more Taco Bell, KFC. Almost all major QSR brands are take an item and find a new way to customise it.
urgent after several years of price increases. focusing on a memorable dine-in experience for Suddenly, a video of its innovation has 30 million
The truth is that fast food is no longer an their customers by bringing in innovations like views and thousands of comments, along with
especially cheap option – especially after a new self-service ordering kiosks. And for the first shares, and people coming into the restaurant
2023 in which grocery prices began to level time, there is heavy investment in brand building asking to try this new take on a quesadilla and
out, making eating at home more affordable and celebrity partnerships in communications. posting about it themselves.
by comparison.

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FA ST FO O D

So far, the big fast food brands have been For now, in an age when fast food tabs have
able to absorb any volume declines by winning begun to climb up past $10 or even $20 in
more business from affluent consumers some parts of the US, it’s no surprise that
ordering digitally. But the risk in 2024 is that Gen Z has most enthusiastically embraced
cost pressures could cause a more permanent the drinks corner of the fast food market.
exodus of lower-income patrons (in the US, It’s much easier – and more fun – for a cash-
those making below $45,000 a year). In strapped student to build multiple occasions
response, CEOs have vowed to put affordability a week around $5 customisable beverages
back on the agenda, often in conjunction than around spending double that, or more,
with revamped loyalty programmes. on full meals.

In many categories, the emotionally driven This dynamic helps to explain why Taco Bell
concept of ‘loyalty’ is often used incorrectly recently piloted a range of churro, coffee and
to describe what are really more prosaic berry-flavoured ‘chillers’. And why Dunkin’ has
challenges of ‘retention’. But in fast food, the added a variety of sweet liquid treats to its
term ‘loyalty’ really does apply. According menu – including a collaboration with rapper
to B2B loyalty solutions company Paytronix, Ice Spice that traded on the idea donuts are
the top 5% of loyalty customers drive up to more exciting when blended into a smoothie
25% of sales for restaurant brands. This is not than when eaten as solid food.
customer behaviour – it is fan behaviour.
And then there’s CosMc’s, the new drinks-
Even more casually engaged loyalty focused drive-through spinoff from McDonald’s
programme members can drive hundreds of that combines funky design cues with quirky,
dollars’ worth of extra business per person customisable flavours. Though still in its
over their lifetimes, Paytronix reports. infancy, the concept is a recognition that in
William O’Connell
Provided, that is, that brands have the right the years to come, ‘fast food’ may become Vice President, James May
AI engines in place to ‘nudge’ these casual something of a misnomer for a category where Brand Solutions US CPG Sector Lead
customers back toward the brand when their beverages have so much growth energy.
attention wanders. Ultimately, loyalty is yet [email protected] [email protected]
another area where the digital shift can only
benefit fast food brands. The first-party data
that loyalty apps make use of can also inform The biggest shift in the category is the value proposition. GLP-1 receptor agonist medications (e.g. Ozempic, Mounjaro,
brands’ strategic insights more generally. Fast food is not necessarily the most inexpensive dining Wegovy) have created a huge wave in the US marketplace. In
option these days. And that holds true more or less some states, one in 10 consumers has taken one of these drugs.
Going forward, a key target for this loyalty throughout the category. And given these price dynamics, And the way they work is by affecting your satiety, basically
push is Gen Z, which remains something of a consumers are now picking where to eat in QSR not based on reducing your food consumption and caloric intake. In the
question mark for fast food brands. Not only price, but more solely based on preference. So there’s more coming years, these medications are set to expand further to
are these young consumers more sensitive of a loyalty aspect that’s coming into play now that ‘cheap countries like the UK. And this could impact fast food brands.
to high prices; they may also still crave the fast food’ is no longer. All of this has put brand front and There’s a lot we still don’t know about how these treatments
kind of in-store social spaces that brands are centre. More than ever before, it’s about winning preference affect food consumptions – but as more becomes clear, fast food
moving away from. and higher-level loyalty. brands will have to be proactive in adapting their offerings.

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FA ST FO O D

B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE BE MEANINGFULLY DIFFERENT 2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO BUY

$18,109 M $7,862 M
TO MORE PEOPLE
Chick-fil-A enjoys a strong reputation for sustainability
In its home market of the USA, Chipotle outscores and customer service. When combined with its
differentiating, high-quality chicken menu, this has
+36% vs 2023 the Fast Food category average in perceptions of +10% vs 2023 resulted in a Meaningfully Different brand that justifies
“Specialist” and “Provenance” credentials. Chipotle is
also the only fast-food brand of its size that directly its premium pricing.
Since 2019, Chipotle has tripled its brand value, and Chick-fil-A first entered the global category ranking in
grown four times as fast as the category overall. owns and operates all its restaurants, allowing 2021, and has since grown its brand value by 30%.
it tighter oversight of experiential assets like its Going forward, the challenge for Chick-fil-A is to amplify
‘Chipotlanes’ for pre-paid online orders. its Meaningful Difference via increased Salience.
Chipotle benefits from a differentiated proposition Chick-fil-A is perceived by consumers as being a
– authentic Mexican food made with locally sourced Sustainability leader for its work supporting environmental,
ingredients – and effective business management. employee, and local community initiatives.
Meaningful Difference in the US Meaningful Different and Salient in the US

150
Brand Strengths: Brand Strengths:
150

McDonalds
Panera Bread (Salience 220)

Starbucks

SPECIALIST SUPERIOR
Chick-fil-A
Chipotle
How Different your brand is

Burger King

How Salient your brand is

PROVENANCE SUSTAINABLE

Challenge
KFC

Chick-fil-A
McDonald’s

Burger King

50 150 50 150
How Meaningful your brand is How Meaningful and Different your brand is

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FA ST FO O D

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Fast Food brand growth has Top 10 Most Valuable Fast Food Brands
been supported by standing
out from the crowd.
50
This year, Fast Food brand value growth
45
was strongly related to being Diferent
2023 BRAND VALUE $944 M 2023 BRAND VALUE $1,452 M
40
Brand Value Growth % change 2023 -2024

In Kantar BrandZ terms, being Different

“Great Value” bakery and café chain Costa Coffee grew overall this year, and
means being recognized as offering 35 Greggs rose 6 places in the UK Most has made its brand more present via
something that others don’t, and
Valuable Brand ranking in 2023. deploying more self-service machines
leading the way. 30 and a new RTD chilled drink.
In a fast-food context, this could mean: 25 FUTURE POWER +14
MEANINGFUL 142
• Leading with digital 20
DIFFERENT +9
• Customisation through AI DIFFERENT 121
15
• Ingredient authenticity SALIENT 189
10

0
70 80 90 100 110 120 130 140

Difference Index

2023 BRAND VALUE $2,034 M

Founded in 2017 in Beijing, Luckin Coffee

has a popular app, competitive pricing,
and an extensive retail footprint.

DEMAND POWER +90

2022 vs 2020

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FA ST FO O D

AC T ION
P O IN T S /
B R AND
1
GO LO C AL
2
D ISCOUNT FO R
3
E XPLO RE

B UI LDI NG Offerings that speak to consumers’ local or national

identity can be just as resonant as those that
DAYPARTS
In early 2024, Wendy’s sparked backlash after media
reports that the brand would use AI to implement
AUTO MATIO N
Even before AI burst into public consciousness in
2023, fast food brands were leaning heavily on the
satisfy personalised preferences. McDonald’s has dynamic surge pricing on some menu items during technology in their logistics planning and mobile
found much success in Europe, for instance, with peak traffic hours. Wendy’s protested that this apps – most conspicuously to offer customers
sandwiches featuring ‘national champion’ cheeses development was misconstrued: It was actually personalised loyalty rewards and bundles. But as
– raclette burgers in Switzerland, for example. And testing out dynamic discounting with the goal of labour shortages persist, AI could also be coming
last year, Chipotle proudly purchased more than driving more business during individual stores’ quiet into the kitchen via a larger push towards robotics.
37.5 million pounds of local produce – with plans to periods. AI-informed happy-hour pricing – now In Chicago, for example, sweetgreen has piloted
source more in years ahead. that’s an idea with more promise as brands look a kale-chopping, bowl-filling salad assembly bot.
to ease customers’ affordability concerns without And Miso Robotics has just released a new version
falling into the trap of over-discounting.. of its ‘Flippy’ burger bot that it hopes to market to
brands this year (an earlier model had a try-out
with White Castle restaurant).

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FINANCIAL SERVICE S
FINAN CIAL S E RVI CE S TO P 20: (US$M)
DEFINITION:

VISA
The Financial Services category includes retail, business and investment banking institutions;
insurance players from both the business-to consumer (life, property, and casualty) and
business-to-business sectors and payment brands (i.e. brands used to pay for things either

MASTERCARD
in stores, over the phone or on the internet). These are the debit or credit card networks
companies whose logo is displayed where debit and credit cards can be used, and online
payment systems whose logo is displayed when you make an online payment.

HDFC BANK 1

AMERICAN EXPRESS
J.P. MORGAN
UNITEDHEALTHCARE A ST RO N G P O RT FO L I O /
CHASE
RBC FINANCIAL BR ANDS RISE
WELLS FARGO
ICBC
BCA
TD
PAYPAL
COMMBANK Category Brand Value
PING AN Year-on-Year Change
BANK OF AMERICA
HSBC
AIA Financial Services Top 20
AGRICULTURAL BANK OF CHINA Total Brand Value
MERCADO PAGO
Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ). 1Brand Value is restated.

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The world’s top Financial Services brands grew

their total value by 10% this year, marking a return
Stina VanRooyen
to growth after a 2022-2023 run in which most saw Director, Brand, South Africa,
brand value declines. Insights Division
[email protected]
In some ways, this was a more ‘normal’ year In the commercial banking realm,
for financial services. Certainly compared to meanwhile, some clients have appreciated
the early years of the decade, when massive the higher interest rates being paid out on
government stimulus programmes led to many savings products. But then there is In South Africa, bank brands have ventured really far into
record profits for many banks in particular another subset of clients who must contend the lifestyle space. To give one example. At this point,
– a tide that later receded amid elevated with frustratingly higher mortgage rates bank and gas station reward programmes have become
inflation. But on the other hand, higher compared to a few years prior: home buyers. highly intertwined. And then, going even further, there are
interest rates in much of the world have (Homeowners have also been disadvantaged players like First National Bank – which is offering to go and
now presented brands and marketers with by climate change-driven fluctuations in the renew people’s driving licences, while generally serving as a
challenges not seen in a generation. insurance market – which has seen rising trusted partner with services that make your life easier. It’s
rates across a number of subcategories, about becoming a problem-solver in ways that go beyond
To be clear, from a pure balance-sheet sometimes scaring off new customers.) managing your money. Here, financial services brands are
perspective, this high-rate environment has really working to form an emotional connection and become
been lucrative for entities that are ultimately One of the best ways to protect brand equity a bigger part of people’s everyday lives.
in the business of holding and financing amid these developments is by focusing on
other people’s debt. But financial services service and experience. This year’s fastest-
is also a relationship business, and as rising Financial Services brand, Chase,
brands, the players in this category have certainly benefitted from a rebound in
had to be sensitive to the ways that some profits this year after a slower 2022 (as did
clients have found themselves constrained its sibling brand J.P. Morgan). But Chase has
by the current environment. also shored up its brand equity – and notably
improved its Difference perceptions – by
Investment bankers, for instance, have had doubling down on in-person branches.
to contend with slower volumes for mergers,
acquisitions and public offerings. And in the Physical branches continue to drive the vast
real estate sector, where higher financing majority of new relationships, Chase has
costs have coincided with post-pandemic found. And going forward, Chase is betting
softness in demand for office space, the that a combination of physical reach and
mood is even cloudier. high client satisfaction will give it an edge,
not only over other legacy banks, but also
fintech challengers.

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FINANCIAL SERVICE S

In the payments space, the number-one and

number-two most valuable brands respectively,
Visa and Mastercard, also posted double-digit
brand value growth. In major Western markets Sandeep Salunke
like America, credit card financing has climbed
over the past two years, even as the reasons
Laura Derrick Vice President, Insights
why consumers turn to credit cards has varied Senior Vice President Division, Kantar
widely. It’s a peculiarity of the moment that [email protected] [email protected]
even as inflation has pushed some middle-
and lower-income consumers to begrudgingly
spend more money, wealthier cardholders
have simultaneously, and more happily, What we’ve seen in the US is that the younger In India, financial services brands have turned
gained disposable income thanks to rising real generations have turned away from the more to recruiting new clients from smaller towns
estate and stock market portfolios. All of these traditional personal finance experts – the ones and rural areas. And what that’s meant is a
dynamics have contributed to greater credit that write books featuring programmes for new approach to marketing content, because
card usage – while also creating the need for ‘getting rich’ or ‘getting out of debt’ by cutting these rural consumers are more likely to speak
financial services brands to account for out your daily latte, for example. Instead, the one of India’s regional languages. For the urban
a diverging range of client emotions. younger generations are really looking towards consumer – regardless of what region you’re
social media for advice – either from people focusing on – English has been the language
By contrast, China has been something of they know or from micro-influencers on TikTok of choice. But the further you move into the
an exception to global consumer spending and Instagram. countryside, the more you need to really pay
trends, thanks to flat consumer prices attention to the local specificities of your
and weaknesses in the stock market and consumer. That starts with language, but more
real estate sectors. All of this has created generally it’s about making people feel like you
difficulties for Chinese payments brands. understand them.
(Infrastructure and rural development
investment, by contrast, have largely held up.)

But for some Western brands, China still

remains a site of opportunity – in part because,
until recently, they had almost no presence in
the country. In 2023, for example, both Visa
and Mastercard saw their fortunes rise in China
as they finally became better integrated with
the WeChat and Alipay platforms. What’s
more, Mastercard and Visa brands have
also reported double-digit volume increases
in cross-border payment transactions – a
phenomenon spurred on by the emergence of
cross-border ecommerce as a viable consumer
retail approach, as exemplified by Chinese
players like Shein and Temu.

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FINANCIAL SERVICE S

A potential headwind, by contrast, is the

rise in Asia and the Middle East of free,
government-backed ‘instant payment’
interfaces – though so far, only India’s Holger Laube
has fully achieved breakout scale. In Latin
America, meanwhile, the private sector Senior Director & Domain Lead
continues to steer the ship on digital Capabilities, Kantar Germany
payments. There, Argentinian player Mercado [email protected]
Pago, a sister brand to leading ecommerce
brand Mercado Libre, has led the way.

It’s no secret – or surprise – that younger In Germany, the banking market has been fairly settled for
consumers have been quickest to embrace a long while. Sure, as in most European markets, neobanks
digital platforms across savings, investment, have been able to attract especially younger customers with
and payments solutions. Gen Z clients in new, mobile-focused and easy-to-use banking services. But
particular have come into focus as a cohort the main players are still fairly set in what is overall a rather
with a higher degree of financial savvy, thanks conservative banking market. It will be exciting to see if
in part to finance content on Reddit and TikTok. pan-European offers such as Revolut, who just started a
To wit, a recent study from the CFA Institute massive campaign in Germany, will shake things up and
found that on average, Gen Z were starting to find a way to establish themselves as a banking brand not
save for retirement and invest in stocks earlier just for younger audiences, but also for more conservative
than their generational predecessors ever did. target groups.

But at the same time, the volatile economic

era in which they came of age has made
Gen Z feel discouraged about ever fully
meeting their financial goals – leading some
to embrace a kind of ‘financial nihilism’.
Some of the most successful emerging
fintech brands don’t ignore this nihilism but
challenge it head-on: offering products and
communications that serve to reassure their
clients that people do, in fact, have the power
to improve their own financial standing – even
if that progress is incremental at first. In brand
building terms, this has all the makings of
a classic ‘consumer tension’, with the future
spoils going to those financial services players
who can best give young people hope.

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FINANCIAL SERVICE S

B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE BE MORE PRESENT 2024 BR AND VALUE BE MEANINGFULLY DIFFERENT

$31,328 M Chase is better than many Financial Services

competitors at converting predisposition into
$18,014 M TO MORE PEOPLE

Mercado Pago provides a variety of well-designed

+40% vs 2023 actual customers. New entry financial services, including digital bank accounts,
investment tools, insurance, and payments. Its core
Chase’s growth in 2024 is driven by a range of Chase has committed to opening and renovating Mercado Pago is one of five business units of payment offering has shaken up the category for
factors, including its extensive network of local many hundreds of new branches over the next Mercado Libre, the Latin American ecommerce giant. merchants in the years since its launch.
branches – which reinforce the brand-burnishing three years, including in lower-income and rural
perception that the bank can meet more needs. communities. Local branches remain a key way to Founded as a payments platform, the brand Mercado Pago’s strong visibility and friendly, disruptive
be more present and capture a greater share of has grown rapidly, processing almost 10 billion brand profile – combined with strong functional
Across US banks, Chase now has the best financial services. transactions last year across a variety of strength – looks set to ensure future growth.
perceptions on superior performance attributes, financial services.
convenience, and trust – and it aims to export this
same reputation abroad. Banks, US Payments services providers, Brazil

20 150

Cielo
Chase

How Different your brand is

Mercado
Pago
Volume share

Many banks failing to convert

expected customers

0 20 50 150
Demand Power share How Meaningful your brand is

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FINANCIAL SERVICE S

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Financial Services brands are Meaningful Index vs. Growth

winning through customer Banks Payments
orientation.
Growth
Brand value growth in the Financial Services
category was most strongly related to
Meaningful perceptions. 2024 BRAND VALUE $6,962 M 2024 BRAND VALUE $1,639 M

MUFG is the largest bank in Japan Banco do Brasil is the oldest active
In this category, being Meaningful means
and the Japan Top 50’s fastest-rising bank in Brazil – and also one of the
meeting customer needs and being
Brand Value % change 2023-2024

brand in 2024. most sustainable.

emotionally approachable. It means
offering a good range of products and
services. And it means being trusted in a
world where bank failures are on the rise. A BRAND I
CAN TRUST
99 SOCIALLY
RESPONSIBLE
92
OUT OF 100 OUT OF 100

Below average Above average

Decline

Meaningful index 2024 BRAND VALUE $2,112 M 2023 BRAND VALUE $685 M

Despite recent economic difficulties in Italy, The first Saudi national insurance
UniCredit drives predisposition through its company to operate in line with the
reputation as a fair and responsible banker. insurance principles of Shariah.

MEANINGFUL 132
FROM A COMPANY
I CAN TRUST
91 DIFFERENT 132
OUT OF 100
SALIENT 174

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FINANCIAL SERVICE S

AC T ION
P O IN T S /
B R AND
1
CO LLECT NE W
2
E XPAND INTO
3
ENHAN CE SECURIT Y,

B UI LDI NG SIGNATURE S
Is the category prepared for a world after physical
credit cards? Cards aren’t just a means of doing
NE W SPACE S
Productivity and efficiency gains from AI
technology could give more financial brands the
SEN SITIVELY
Advances in AI technology have the potential
to reduce the likelihood of fraud and identity
business for many financial services brands, after runway to expand into new adjacent business theft. But before banks roll out these solutions,
all – they’re a strong brand asset. But as especially areas. Already, the trend in the US has been for they should recognise the high burden of getting
more transit systems transition over to tap-to- investment players to become more ‘full service’ things right. The fear is that the technology could
pay, physical wallets will no longer be a necessity. shops. For example, long-time mutual fund player lead to false positives or other algorithmic errors
(In the Netherlands, which recently became the Fidelity has expanded to offer more banking and that accuse individuals of breaking rules that
first country to launch a fully contactless public trading platform services – as has once-and- they didn’t. Financial independence – access to,
transport payments system, 37% of all point-of- future competitor Charles Schwab following its and control of, one’s own bank accounts – is a
sale credit card transactions in December 2023 acquisition of TD Ameritrade. Consumer banking core, emotional issue for many people, and any
were made without tapping or swiping a physical is hard, of course – Goldman Sachs abandoned advances will need to take care of that.
card.) The impetus is on brands, then, to build out its push into the space last year – but for brands
a wider array of multisensory brand assets. That with a tradition of consumer centricity, expansion
includes sonic branding (sound cues), haptics, and remains on the table.
refreshed brand marks – and even scents, in the
case of Mastercard, which recently commissioned a
signature scent to perfume the air of its ‘experience
centre’ lounges. It’s about building out a consistent,
distinctive brand profile across all touchpoints.

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FOOD AND BEVERAGES

FO O D AN D B E VE R AG E S TO P 20: (US$M)
DEFINITION:

COCA-COLA
The Food and Beverages category includes non-alcoholic ready-to-drink
1 beverages: carbonated soft drinks, juice, bottled water, functional drinks
(sport and energy), coffee and tea (hot and iced), packaged foods including

RED BULL2
snacks, meal and culinary brands, dairy products, and confectionery.

NONGFU SPRING
PEPSI3
LAY’S
NESPRESSO S W E E T S U C C E SS /
NESCAFÉ TO P B R A N D S LO O K
YILI TO G RO W VO LU M E
KINDER
LINDT
MONSTER
DIET COKE4
FANTA
SPRITE Category Brand Value
MENGNIU Year-on-Year Change
GATORADE
BRITANNIA
CADBURY Food and Beverages Top 20
NIDO Total Brand Value
KRAFT
Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ). 1The Brand Value of Coca-Cola here does not include Diet Coke and Coca-Cola Light,
2
Red Bull includes sugar-free and Cola, 3The Brand Value of Pepsi includes Diets, 4Diet Coke includes Diet Coke and Coca-Cola Light.

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The combined brand value of the world’s top

Food and Beverages brands remained essentially
Shailley Firdous
flat during a year in which the category hit an Associate Director,
inflection point on pricing. Consumer Insights, India
[email protected]
By and large, these top brands entered the These days, food brands also face greater
2020s with Pricing Power to spare. And it’s a competition from private label offerings, which
good thing they did, because they soon found many retailers ramped up during the cost-of-
themselves needing it. In the face of rising living crisis. The impact of these private label Biscuits, especially, are fragile products – and when too many
raw materials prices and macroeconomic ranges can sometimes be overstated: Kantar biscuits are broken during transit and stocking, it can decrease
slowdowns, most brands raised their prices. studies have shown that in many categories, a brand’s value positioning, especially in the price-sensitive rural
Doing so allowed them to protect their the average private label offering remains market. And so when Britannia redesigned their packaging, it
margins during unprecedented times – or largely undifferentiated (and uninspiring) to wasn’t just to give the brand a fresher look – it was to reduce
even to expand their margins, which had the consumers. But there are product categories, this risk of breakage. And the result was better branding,
benefit of offsetting softening volumes. regions, and consumer segments in which better experience, and better value in consumers’ eyes.
private labels have begun to break through,
Now, top brands are gearing up to focus on to the point where strategists need to
volume again. But they are doing so in a consider them more carefully as part of
retail environment that looks very different their brands’ competitive sets.
to that of the 2010s. For starters, even as
headline measures of inflation ease, consumer On the other hand, there are some
sentiment has lagged behind. And perhaps subcategories where private labels have Jan-Marc Baeumler
understandably so: The prices of many goods almost no foothold: Heinz enjoys the kind Commercial Domain Expert,
aren’t necessarily getting any lower just of enviably secure advantage in ketchup,
because they’ve stopped increasing. for example, that it equally lacks in pickles.
Innovation, Germany
In general, the trend this year has been [email protected]
for brands to consolidate around their
‘superstars’ – ‘Power Brands’, in the words of
Unilever’s CEO, who announced a strategy to
focus the conglomerate around its strongest In the energy drinks space, we have seen a big reorientation
30 brands across food, beverages, and around variety and sugar free alternatives, and this segment
personal care. is growing strongly. We are – and will continue to be – seeing
more launches of these new varieties, as it is clearly becoming
more relevant to consumers.

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Of course, the names in the Food and

Beverages Top 20 are already superstars in one
way or another. But even for these standouts,
the marketing playbook has changed. Barry Thomas Doris Guan
Coca-Cola, for instance, spent around 30%
Senior Global Director of Brand &
of its marketing budget on digital in 2019. Thought Leader Creative Practice, Insights
Today, that figure is 60% – or higher, in [email protected] [email protected]
some markets. That’s because today, AI-
driven digital marketing tools have allowed
Coca-Cola to home in on the consumers
best able to drive volume growth (through The big story for this decade has been how digital At-home coffee consumption has become a
new business and more frequent occasions). marketing, ecommerce, and social media platforms stronger trend in China as the average consumer
As Manuel Arroyo, the company’s CMO, like TikTok and YouTube have turbocharged the rise has become more focused on value. Of course,
explained it in a recent presentation: ‘[Our of challenger brands. I’m thinking of a player like there is still Starbucks, as well as local chains
old approach] was a TV-centric model where poppi, a ‘functional’ soft drinks brand which has like Luckin Coffee. But in the past year, instant
we would basically achieve high-reach levels – been around since 2015 but just become massive coffee has become popular as the most
80-90% of the population including those that on TikTok. Or you look at a brand like Feastables, affordable choice. What’s important is that
reject the category… [Now] we are targetting which is a snack and confectionary brand founded people feel that they can spend less without
what we call positive intenders.’ by the YouTube star MrBeast. After the brand compromising a lot on the quality of the coffee.
launched, he directed his fans on social media Yes, you have to make it yourself – and there was
Intenders, Arroyo explains, are people who are channels to visit retailer stores and make sure his not much of a tradition of doing this in China
open to the soda category, but more often chocolate bars had good positioning on shelves. – but now there are many innovative formats
choose the competition or drink with a lower He turned his fans into merchandisers in little over such as drip coffee, coffee capsules, ready-to-
frequency. They stand in contrast to rejectors, a month! This has never happened before in the use, and super espressos, etc. They are very
who don’t intend to drink soda at all. What history of this category. convenient to use and lead to good quality.
Coca-Cola realised, he said, was that ‘when
you see these rejectors, you don’t need to
invest dollars behind them.’

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Product innovation can also drive volume

growth – so long as research indicates the
time is right. Fifteen years ago, the world
wasn’t ready for vitamin-fortified Diet Coke
Plus: There were ‘treat’ beverages and
‘healthy’ beverages, and anything in the
James May Claire Martin
middle was met with confusion. But the CPG Sector Lead, US Senior Director
playing field has changed – especially after [email protected] [email protected]
a decade-and-a-half of growth in the energy
drinks subcategory. Here, brands like Monster
tout the inclusion of functional fortifications
(B-Vitamins, Taurine and L-Carnitine) What’s next for the food and beverages business? In Asia, the way the average person plays sports
alongside neon-sweet flavours. (See, also, the We’re reaching the end of a period of pricing-led and exercises is less intense. Exercise is mostly
rise of prebiotic soft drink challenger brands growth. And now, the big story for the coming about health. Hence, when people exercise
like OLIPOP and poppi.) year will be of businesses going back to the more lightly, they also want something lighter
core fundamentals in hopes of driving volume and more nuanced for hydration and energy.
Indulgence is set to become a particularly growth. That’s going to take focus, so we This has implications for the way that a brand
interesting territory in the years ahead. shouldn’t be surprised if big companies continue like Gatorade charts its expansion in the region.
The rise of sugar taxes and GLP-1 agonists to prune their portfolios and ranges. But it’s The important innovations for growth in China,
could, in theory, curb consumers’ appetites also going to take new investment in innovation and in Asia, are around combining functionality
for confectionary brands. But shifting too – in some cases, innovation through with lightness, rather than combining peak elite
cultural attitudes could be an equally strong acquisition. This could be a busy year for performance with heavy formulas and flavours.
countervailing force. Social justice activists acquisitions as the big companies seek to Lighter (but still functional) formats like active
have worked hard to counteract the notion counteract some of the challenger brands water are set to grow in Asia in the coming years
that foods are inherently ‘good’ or ‘bad’, we’ve seen emerge this decade. – driven by Asian brands too, of course.
while parenting influencers are begging for
an end to performative perfectionism
around how we feed kids.

For now, there are three confectionary brands

in the Top 20, and they are having a sweet
time of it – Kinder, Lindt and Cadbury are all
recording year-on-year brand value growth.

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B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE BE MEANINGFULLY DIFFERENT 2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO BUY

$22,150 M $5,566 M
TO MORE PEOPLE
One of Nestle’s ‘billionaire brands’, Nido’s innovation
Red Bull is a prime example of a brand with a and product quality are the foundations of its
+19% vs 2023 consistent marketing strategy, effectively executed New entry Meaningful Difference.
over many years. Through events, sponsorship,
Red Bull’s steady growth continues by creating more created content, and traditional advertising, its core Newcomer Nido was launched by Nestlé 80 years In addition, Nido maintains high Salience through
demand without dropping its premium pricing. message is delivered and reinforced. ago and has gone global. consistent advertising support, and through its
distinctive yellow packaging and ‘heart’ brand asset.
It’s a fortified infant milk that’s especially popular in Asia In Mexico, over 95% of adults recognise Nido as part
Brand Strengths: Soft Drinks USA and Latin America – and only the third ‘baby’ brand to of almost everyone’s life growing up.
(arrow show’s Red Bull’s progress since 2014) make it to the Kantar BrandZ Global rankings.

DISTINCTIVE 160
Brand Strengths:

DISRUPTIVE
2023
2017 ADVANCED
How Different your brand is

2021
2019 2015

SUPERIOR

40 160
How Meaningful your brand is

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FO O D & BE VER AGE S

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Food & Beverages brands win Meaningful Difference vs. Salience

by predisposing more people

Kantar BrandZ data shows that top Food

& Beverages brands fall into two groups. Cadbury

The larger group is made up of ‘everyday’ 2023 BRAND VALUE $547 M 2023 BRAND VALUE $1,831 M
Coca-Cola
brands that have higher Salience than
Meaningful Difference.
Nongfu Spring Saudia is one of the Middle East’s biggest Biscuits and cookies brand Sunfeast grew
packaged food brands with a wide range more than 40% in brand value in the
The rest are ‘specialist’ brands that rely less Mengniu of dairy and non-dairy products. latest Kantar BrandZ India rankings.
Nescafé
on Salience. They are more Meaningfully
Different, which supports significantly better MEANINGFUL 127 RELATIVE PRICE 98
price points versus everyday products.
How Salient your brand is

Yilli
Kraft
DIFFERENT 127 PRICING POWER 103
Britannia SALIENT 138
Lay’s
Kinder
Pepsi
NIDO
YAKULT
Diet Coke
Fanta Nespresso
Sprite

Lindt
Red Bull 2024 BRAND VALUE $493 M 2024 BRAND VALUE $2,497 M
Gatorade
Monster Quero, owned by Kraft Heinz, is most Yoghurt drink brand Yakult grew more
famous for its tomato sauce and other than 18% in brand value this year as
tomato-based products. it extended its well-established health
benefits into new spaces.
How Meaningful and Different your brand is
UNIQUENESS
INDEX DIFFERENT 132
115
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FO O D AND BE VER AGE S

AC T ION
P O IN T S /
B R AND
1
EMBR ACE
2
INTEGR ATE
3
RE WARD THE

B UI LDI NG TR AD ITI O N
In recent years, the Chinese market has seen a
rise in new products that aim to blend traditional
INFLUEN CER S
Full collaborative ventures between celebrities
and large food and beverages brands remain
REMIX
One way that brands can achieve maximum
impact on TikTok is by offering themselves up
Chinese medicine with more modern formats. pretty rare on the ground – but that could change as platforms for experimentation, rather than
Some of these beverages have startlingly different following the rise of several successful influencer- presenting their products as an ‘end state’ in and
shelf appeal – as in the case of bottled teas backed challenger brands (for example, Jake of themselves. Prebiotic soda brands have won
containing whole ginseng roots. A prime mover in Paul’s Prime Energy). In 2023, the Warner Music particular favour by offering themselves up as
this space is long-time herbal tea player Wanglaoji, Experience brand studio brokered a deal with Heinz bases for a variety of amateur mixological and
which recently introduced a new durian-spiked to launch Tingly Ted’s, a hot sauce line from Ed homeopathic mocktails. TikTok’s viral ‘sleepy girl
variety with cooling properties. And Coca-Cola Sheeran. In some ways – and in contrast to some mocktail’, for instance, is made by combining
has gotten in the mix as well, with the first herbal cash-grab celebrity tie-ups – there’s never been cherry juice, magnesium and Lemon-Lime OLIPOP.
tea offering from its HealthWorks sub-brand. That a partnership that’s made more authentic sense: Why that brand, and not some other? It’s not just
beverage features prunella vulgaris, a mild natural Sheeran is so much of a Heinz fan that he has a the ‘cool girl’ branding that makes OLIPOP a good
analgesic also known as ‘self-heal’. As brands tattoo of its ketchup label tattooed on his arm. candidate for this kind of social media breakout;
continue to localise their offerings worldwide, they it’s also the fact that its beverages are less sweet or
should consider not only introducing traditional strongly flavoured than more traditional sodas.
flavours, but also traditional functionalities.

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LUXURY
LUXU RY TO P 10: (US$M)

LOUIS VUITTON
DEFINITION:
The Luxury category includes brands that design, craft
and market high-end clothing, leather goods, fragrances,
accessories and watches.

HERMÈS
CHANEL T H E N E W LO O K /
GUCCI LU X U RY C L I M B S E V E N
MORE UPSCALE
DIOR
CARTIER
ROLEX
SAINT-LAURENT/YSL
Category Brand Value
Year-on-Year Change

TIFFANY & CO.

PRADA
Luxury Top 10
Total Brand Value

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

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The world’s most valuable Luxury brands returned

to form, growing 8% in total value since 2023. Pierre Gomy
Global Head of Luxury –
That’s good news one year after the category saw Head of Sustainability,
an uncharacteristic brand value decline of 4% Central & Southern Europe
amid a slowdown in the Chinese market. [email protected]

And it was particularly welcome news This focus on selling more and selling better
considering where the category stood mid- to the ultra-rich explains how, for example, People assume that luxury consumption is very emotion-
year in 2023. Back then, analysts had serious Louis Vuitton has continued to benefit from driven, fantasy-driven, and based around loyalty to a single
concerns about the Chinese domestic and Chinese tourist spend in Europe, even as the brand. But research that Kantar has done shows that the
travel segments. They worried, in short, that total number of Chinese visitors remains on path to purchase is more sophisticated. People first get an
these segments were not bouncing back fast the low side. This year, Louis Vuitton sales idea of the type of item that they want to buy. Then they’ll
enough from pandemic-era lockdowns – due from this segment rose to regain 70% of start with three or four different brands in mind, and go on
to slower economic growth but also changing its 2019 value, even as the brand’s sales in a very detailed purchase journey where they will compare
consumer tastes. mainland China also remain stronger than the product options against each other: looking at product
they were pre-pandemic. reviews, listening to influencers, things like that. So for
But ultimately, a few things happened to put brands, the challenge is to be in consumers’ initial set of
top luxury brands back on the right track. Furthermore, it’s important to remember options – but also to give shoppers the right information or
First, the domestic Chinese market rallied, that top luxury brands have been raising content during the decision-making period.
with the luxury market there growing about their prices steeply and steadily for the past
12% in all according to a recent study by Bain half-decade. In 2023, this pricing push paid
& Company. At the same time, the industry off handsomely, helping the major houses
became somewhat less reliant on China to ride out some of the fluctuations in sales
this past year, thanks especially to strong volumes, even as sticker shock has put the
performance in the US. squeeze on more aspirational consumers.

What’s more, although mass Chinese travel These kinds of pricing campaigns only really
has not yet recovered, the richest Chinese work for luxury brands with strong and
shoppers have resumed their trips abroad. growing Pricing Power. That describes most
And there, they have been met by revamped of the top brands on this year’s list – but even
retail experiences designed to cater explicitly then, there are early signals that wealthy
to high-net-worth individuals. consumers are starting to tire of price hikes,
even from Justified Premium brands.

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Beyond this top tier, in the wider world of luxury

branding, some houses have struggled to
justify their price hikes whatsoever, thus leaving
them with a tough brand building choice in the Sreyoshi Maitra
year ahead. Do they broaden their reach by
expanding entry-level offerings, or by investing
Shopper Domain Lead, Daphne Lee
further in an aura of exclusivity? South Asia Senior Consultant
[email protected] [email protected]
Overall, this is not an easy time to be a
medium-sized luxury house, no matter how
acclaimed one’s runway offerings may be.
Luxury’s recovery from its late-pandemic Large Indian retail groups are keen to forge What we’ve seen in the Southeast Asia region is a
swoon has been uneven. The greatest partnerships with international luxury brands. wide gap between the motivation of younger and
spoils these days seem to go to brands that It also makes sense for these brands to test older luxury consumers. Our research shows that
can operate with Meaningful Difference the waters by creating differentiated product older consumers are motivated to buy luxury out
across a variety of categories like clothing, experiences before they commit to full of an appreciation or enjoyment for certain brands
accessories, beauty, and home – all while operations in new markets. Even at this stage, – there’s only a few brands they’re really tracking,
reassuring shoppers that they are investing in the need for adapting to Indian tastes is clearly so they’ll buy more deeply into those brands’
‘timeless classics’ that will hold their value. evident. For example, Louis Vuitton launched offerings. But for younger people, it’s a lot more
an India-exclusive range of footwear done up in about self-expression. The number of brands
Achieving, and defending, this kind of broad what they call ‘Rani Pink’ – a much-loved hue they’re tracking is potentially unlimited – because
luxury remit is the work of the modern between magenta and fuchsia that has been a it’s tied heavily to internet virality. And their
‘mega-brand.’ That’s a designation that fairly favourite for ages, especially in Indian weddings. purchasing is more experimental, in the same way
applies to the three most valuable brands This footwear collection, exclusive to India, is that they’re experimenting with their identities.
on this year’s list – Louis Vuitton, Hermès an example of contemporary fashion wrapped They’ll buy bolder – but perhaps less expensive –
and Chanel. And the pursuit of this mega- in a rich cultural context. So when consumers products from a wider variety of names.
brand designation has driven much of the learn that this colour is available only in India, it
recent strategic moves from Dior and Gucci comes across like a celebration of Indian royalty
– the latter of which installed a new creative and it is easy to believe that this product line is
director after determining that its existing India’s very own.
‘geek chic’ aesthetic was too niche to propel
Gucci toward the promised land of $20 billion
in annual revenues.

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The pursuit of ‘mega-house’ status also LVMH, meanwhile, recently partnered

explains the momentum around names with Superconnector Studios to set up 22
like Prada and Fendi. Prada has seen Montaigne Entertainment. This platform will
phenomenal 80% year-on-year revenue work to connect LVMH brands with the TV Lee Smith
gains for its sub-brand Miu Miu, and has and film industry – thus building brand equity
just launched its first round of make-up with consumers via channels that go beyond Senior Director, Product
offerings. But it’s also successfully raised ads and social media. The recent AppleTV+ Marketing for Brand
prices and cut back on wholesale for its main series ‘The New Look’, which is about [email protected]
range. Fendi, meanwhile, has invested heavily Christian Dior and features costumes from
in red carpet dressing in an effort to move the maison, has been held up as a template
beyond its more specialised roots as a furrier. for the new venture’s future aspirations.
The target demographic of the luxury market is changing
Alongside high-profile brand collaborations Another high-profile – and unprecedented – thanks to the intersection of two trends. First, the large luxury
(this year’s crop includes Tiffany x Nike), red synergy between luxury and entertainment houses have been very steadily and significantly increasing
carpet ambassadorships have emerged as is Louis Vuitton’s appointment of Pharrell their prices. Second, what we might call the ‘super rich’
one of the hallmarks of luxury brand building Williams as its menswear creative director. – the top 1% – have continued to do well. But the merely
this decade. K-Pop stars have proven to be Though growing, the men’s luxury fashion rich – the top 10% – have felt more impact from various
especially good marketing investments. market still equates to a fraction of women’s slowdowns and disruptions and are making more trade-offs
(in terms of both social buzz and sales). But in discretionary spending. And the third type of consumer
The earned media and social media on the nights of Pharrell Williams’ fashion – the aspirational consumer – is making sacrifices in actual
impressions that these tie-ups provide have shows, nothing in the luxury world feels household costs in order to own luxury goods.
helped to counterbalance the decline of bigger than Vuitton Homme – which is
traditional print and television advertising exactly the goal.
channels. Digital advertising has helped to
plug this gap too, of course. But still, even
the best digital spots cannot approximate
the allure and authority that leading fashion
magazines once held.

But can entertainment content perhaps fill

this gap? That is the bet behind a number of
recent moves by fashion houses into movies
and streaming. Last year, for instance, Saint
Laurent launched its own film production
company. A few months later, Saint Laurent’s
owner, Kering chief François-Henri Pinault,
acquired a majority position in Hollywood
talent agency CAA.

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B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO BUY 2024 BR AND VALUE BE MEANINGFULLY DIFFERENT

$9,099 M Rolex predisposes more people with consistent

cinematic communications and partnerships
$93,676 M TO MORE PEOPLE

By improving its sense of Difference amongst

+15% vs 2023 that advance its key messages of quality +23% vs 2023 consumers in key markets like the US and China,
and expertise. Hermès helps to justify its increasing price points.
Rolex reaches its highest ever brand value, French luxury house Hermès grows ahead of the Hermès establishes this Difference by:
recovering from the volatility of recent years. One of the brand’s highest-profile partnerships is category, strengthening its consumer relationships • communicating its craftsmanship and quality
with the Oscars. It also sponsors Formula 1, tennis to support high premium price points.
With origins in Switzerland dating back to 1905, Grand Slams, and major golf tournaments. These • limiting production of hero products to
the brand remains privately owned with a reputation serve to amplify Rolex’s Meaningful Difference and to encourage exclusivity
Hermès supports these price points by being
for precision, quality, and craftsmanship. emphasise expertise and innovation. Meaningfully Different to more people – through • providing a superior store experience, with unique
its roster of ‘hero’ handbags, belts, scarves, product assortments and expert sales associates
and shoes, and also through its commitment to
Brand Strengths: Brand equity across key markets high-touch service. Hermès Meaningful Difference

SPECIALIST 150 150

UK CHINA
CHINA

USA

How Different your brand is

How Salient your brand is

USA
JAPAN

50 150 50 150
How Meaningful and Different your brand is How Meaningful your brand is

C a te g o r y Fo c u s

LUXURY

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Difference plays a critical role Top 10 Luxury brands

for Luxury brands.
25
Relative difference shows a strong relationship
with brand value change for the Top 10
Luxury brands.
2023 BRAND VALUE $2,136 M 2023 BRAND VALUE $1,294 M
A clear sense of Difference is critical to
support growth in this sector, and can be Celine has found success emphasising In the US market, they have become more
Brand value % change 2023-2024

achieved via: distinctive visual identities; its timeless, classic bags whilst also Meaningfully Different by emphasising
recognisable hero products; associations appealing to TikTok-friendly fashion codes. values of innovation and passion.
with superior quality and craftmanship; or
stories of provenance and heritage. FUTURE POWER 109 MEANINGFUL +15
SHAKING THINGS UP +7

-10 25

-15

Relative Difference
2023 BRAND VALUE $2,714 M 2023 BRAND VALUE $4,652 M

As it prepares a new creative direction, Now under the leadership of new creative
Givenchy continues to predispose more director Daniel Lee, Burberry is gaining
consumers in its home market. momentum in the key market of the US.

MEANINGFUL +8 MEANINGFUL +13

DIFFERENT +10 DIFFERENT +9
SALIENT +3

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LUXURY

AC T ION
P O IN T S /
B R AND
1
CUT D OWN O N
2
FL AGSHIP
3
SPE AK

B UI LDI NG UN SO LD INVENTO RY
France recently passed a law banning the
incineration of unsold apparel goods – and other
As brands continue to move into experiences,
no experience is more important – more brand
CO N SISTENTLY
Much has been made of the rise of ‘quiet luxury’.
And it’s true that flashy logos have become more
countries could soon follow. The conventional defining – than the one provided by the flagship scarce of late (with some notable exceptions, like
wisdom in luxury is that it’s better for business to store. It’s for this reason that Tiffany centred its Vuitton Men’s). But what really makes a brand like
overproduce a given season’s offerings than to fail brand relaunch as a member of LVMH around Loro Piana or Brunello Cuccinelli so popular among
to meet demand. But even granting this, many the renovation of its New York mothership – the the ultra-rich isn’t its quietness, exactly, but the
major houses ended 2023 with an unusually large reopening of which rivalled most fashion shows this way that all of its offerings speak in a unified voice.
surplus of unsold stock. Going forward, Kering year for celebrity star wattage. Overseas flagships If you buy an item from Cuccinelli, you know that
hopes that artificial intelligence will help it to better have an equally important role in boosting a its organic colour palette and relaxed lines are
forecast demand and cut down on leftover stock. brand’s entry into emerging markets. When going to work with pretty much everything else
Already, the conglomerate says it’s improved Coach, for instance, set out to open a new flagship you already own from that line. This makes getting
inventory predictions by 20% using new technology. concept that combines retail with dining, it chose dressed a breeze for the large portion of the ultra-
Kering has also invested in ReValorem, which to do so not in New York or even Singapore, but in rich who want clothes that look and feel great – but
operates a ‘processing factory’ in Northern France Jakarta. The goal there is to provide a New York- who don’t necessarily care all that much about
that breaks down unsold goods into reusable parts style diner café experience not found elsewhere in being boldly ‘in fashion’. (It just so happens that
and textiles. the region, thus familiarising locals with a milieu right now, they are!)
central to Coach’s brand codes. At the same time,
in the context of Southeast Asia’s mall culture, the
restaurant allows Coach to be more present for
those moments where dining occasions segue into
shopping for clothes and accessories.

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MEDIA AND ENTERTAINMENT

M E D IA AN D E NTE RTAIN M E NT TO P 10: (US$M)

GOOGLE
DEFINITION:
The Media and Entertainment category includes traditional media (e.g. TV,

1 Newspapers, etc.) as well as social media, search engines, video-sharing

services, gaming, video and music streaming services, and leisure facilities.

FACEBOOK
INSTAGRAM CHANGING CHANNEL S /
NETFLIX M E D I A & E N T E RTA I N M E N T
E VO LV E S F O R G RO W T H
YOUTUBE
LINKEDIN
TIKTOK
WECHAT
Category Brand Value
2 Year-on-Year Change

DISNEY
V.QQ.COM
Media and Entertainment
2,3
Top 10 Total Brand Value

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ). 1Google includes Google branded services and products excluding cloud, 2WeChat and v.qq.com are part of Tencent group, 3v.qq.com is Tencent Video

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The brand value of the Media and Entertainment Top 10

grew 34% this year, in strong recovery for this collection
Hannah Avery
of some of the world’s most iconic digital brands. Consumer Insights Director,
Kantar Entertainment on Demand
Last year, the category had declined 32% The world’s other two streaming giants,
as jittery investors began to call for greater Disney+ and Amazon Prime, have similarly [email protected]
short-term profitability and less long-term aimed to do more with slightly less: to market
spending. Through this difficult period, and monetise a narrower (but still ample)
however, most of these top brands retained range of content. Amazon Prime’s brand
Streaming services have begun to pull back on the amount
their strong brand equity. This had the effect equity has remained strong and stable in
of content they release – often while also raising prices. Still,
of mitigating further brand value declines 2024, even as it began to charge a small fee
some streaming companies are also finding ways to provide
and giving brands more leeway as they for ad-free service for the first time. Disney+,
subscribers with more value outside of content and price. An
worked to improve their bottom lines. meanwhile, grew its Meaningfully Different
example is Disney+’s subscriber perks programme, which launched
perceptions in its fourth year of operations.
last year. If you’re a subscriber to Disney+, you can get discounts
This year, top Media and Entertainment
for Disney movies in cinemas – as well as for video games,
brands’ business transformations are well Acrimonious labour strikes made this a
toys, and even free food at Disney World. And of course,
underway – with recovering stock market bruising year for all entertainment brands
there’s Amazon Prime: Currently, Amazon is running offers
prices and brand valuations to prove it. that had business in Hollywood – and now,
that combine music plans with video for a discount. It’s about
in the strikes’ aftermath, it seems even
finding new ways to keep subscribers happy now that we’ve
Now, the challenge for these brands with more likely that the ’streaming wars’ will
outgrown that era of ultra-low prices and endless content.
respect to brand equity is this: ensure that end with consolidation around these three
their Meaningful Difference perceptions hold major players.
up even as offerings evolve in line with Wall
Street’s wishes. Well, four, if you count YouTube – which
outranks all other online video brands in
Think of the way that Netflix, for example, overall share of viewers’ attention. Over
has retained its place as many people’s the past year, YouTube has cemented its
first-choice streamer even amid price hikes, advantage in the hard-to-crack realm
a crackdown on password sharing, and a of children’s entertainment, and has
slimmed-down content slate. Ultimately, significantly increased its Salience too.
Netflix’s continued success as a brand Put simply, it remains the brand that
depends on letting viewers know (through comes to mind first when people think
both UX and marketing) that an abundance about watching videos online (which, more
of great content remains just a click away – often than not these days, means on a
whether that’s hit new originals like The smartphone – though the brand is also
Night Agent or licensed favourites like Suits. emphasising its TV app).

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MEDIA AND ENTERTAINMENT

Another brand working to maintain its brand

equity amid significant – and potentially Jed Meyer
lucrative – business transformations is TikTok. Jeff Herrmann Senior Vice President,
One of the big stories for TikTok this past year
has, of course, been US Government efforts to
VP, Global Client Media Solutions Leader,
force a change in the brand’s ownership. But Director North America
if anything, from a brand equity perspective, [email protected] [email protected]
that effort has caused many TikTok users to
rally to the platform’s side – and it doesn’t
seem to have scared off advertisers.
Historically, Google has been a search Netflix has been a juggernaut for a while. But in the
The bigger business story, from a user platform: The user types in a query to search past year or so, it’s done a really interesting job of
experience and brand equity perspective, for information and Google uses its page rank sort of reinventing itself: first, with the shift toward
has been TikTok’s full-throttle rollout of its algorithm to return a list of paid and organic more live content, which is set to accelerate with
TikTok shop programme. How much change blue links, ultimately routing people to another their new WWE deal; second with a successful
and commercialisation can a social media destination on the internet. But now, there is password sharing crackdown which I think took
platform take on while keeping its user base the rise of generative AI. And what you’re seeing some people by surprise, but was managed to do
happy? That’s the question TikTok is exploring with Open AI’s ChatGPT, Google, and others is it quite deftly, without angering a lot of people.
as it boosts shop content. the birth of a new type of platform: an answer And third, it has continued its streak of turning
platform. Now, if you ask a question on a content from non-English speaking countries into
Perhaps Instagram offers an answer. This platform, you can then stay on that platform to global hits. Today, Netflix has established itself as
brand’s evolution suggests that users will explore all possible answers to your query without the one streaming service that people keep year-
eventually come to embrace new formats ever needing to navigate away. That’s a major round, while consumers dip in and out of other
and functions if given the time. Recall how shift in how the internet is organised. streaming options.
stories and video posts were viewed with
suspicion when first launched; now, they’re
a staple of the Insta experience.

Two years ago, some were predicting

Instagram’s demise altogether as young
people rushed to download TikTok – and
as Instagram’s reels feature got off to a
slower start. But today, reels has found its
feet and young people in particular have
added Instagram back into their mix thanks
to its more robust messaging capabilities.
(According to a recent survey of US Gen Z
consumers from eMarketer, 36% of young
people use Instagram as their go-to for
directing messaging on social media,
compared to 3.7% on TikTok.)

C a te g o r y Fo c u s

MEDIA AND ENTERTAINMENT

Instagram’s sister brand, Facebook, has

also found a youth hit in its Marketplace
service, now that cash-strapped Gen Z are Puneet Avasthi
old enough to venture out and furnish their
own living spaces (the sustainability angle Director, Media, Technology,
is a bonus, too). During a 2023 where Meta B2B and Life Sciences, Insights
Platforms, Inc. stock price rallied following [email protected]
a cost-cutting ‘year of efficiency’, its brand
equity remained strong overall, especially
outside of the US.
2024 is going to be a massive year for elections around the
All that being said, there’s no taking away world. In business terms, this bodes well for media brands –
from the TikTok revolution. The platform’s usually you’ll see an uptick both in audience engagement and
discovery algorithm remains one of the in ad rates during election years. But this year in particular,
century’s biggest disruptive changes to how election season will be about much more than just selling
people navigate the internet. political ads. It’s really a chance for media platforms to
showcase their analytics solutions more broadly: their first-
And yet – perhaps there’s an even bigger party data collection tools, audience segmentation tools,
revolution coming in how people interface with new ways of targetting… Of course, at the same time, media
content. AI algorithms are already reshaping the brands must take this moment to showcase how they can
industry in ways large and small – for instance, balance innovation with a responsibility to safeguard trust.
they’re helping the likes of Google and YouTube
increase the effectiveness (and thus value) of
ad placements. But the biggest shift to user
experience will occur when brands like Google
fully roll out natural language AI tools like
Google Search Generative Experience (SGE).

Throughout the pilot period for SGE, Google

has continually made design tweaks in order
to keep links to outside content (including
advertising links) at the core of the search-and-
summarise product. That’s key for the brand’s
continued business health. From the perspective
of Google’s users, the key will be to a develop a
service that’s informationally rich and natural
to use, in the manner of competitors like
ChatGPT. But at the same time, Google’s
results need to remain highly ‘actionable’
when linking to information like shopping
listings, store addresses, or service portals –
and yes, these can all be integrated with ads.

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B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO BUY 2024 BR AND VALUE BE MORE PRESENT

$113,916 M Instagram’s huge increase in brand value (now at

a record high) is supported by the brand’s steadily
$74,919 M Netflix has shown a persistent ability to convert strong
brand equity into new subscriptions.
+93% vs 2023 strengthening brand equity. +51% vs 2023
The platform recruited more new subscribers than ever
Instagram Reels has contributed to a more than The brand’s efforts to revisit cost structures, invest Netflix’s brand value reaches a record high – many (more than 13 million) in Q4 2023 – its single-largest
40% increase in time spent on the app since 2020, heavily in AI capabilities, and accelerate advertising observers now argue that Netflix has won the quarter gain ever. Total subscriptions now stand at 260
dramatically improving the monetisation opportunities revenue in the last year are also supporting its ‘streaming wars’. million globally, leading all other streaming services.
for users and Meta alike, as well as improving stellar growth.
perceptions of superiority and range of functionality. Netflix built momentum with a combination of great
Brand equity in the US content, advertising, and the success of its drive to Well positioned to convert
charge for password sharing.
Brand Strengths: 150 35 Converting very strong
Facebook YouTube brand equity into new

SUPERIORITY Brand Strength: subscribers

Instagram 2023
Netflix

SUPERIOR CONTENT YouTube

RANGE
How Salient your brand is

Volume share
TikTok
Snapchat
Amazon
Prime Video
Hulu

Disney+
Instagram 2014 Apple TV+
HBO
Paramount+
50 150 0 25
How Meaningful and Different your brand is
Demand Power share

C a te g o r y Fo c u s

MEDIA & ENTERTAINMENT

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

A category chock-full of Category comparison – brand equity

strong brands.

As a collective, the Most Valuable Media 140 Salience = size of bubble

and Entertainment brands are some of the
strongest in the world, having established
incredibly strong relationships and profiles 2024 BRAND VALUE $1,653 M 2023 BRAND VALUE $7,242 M
with their users.
When it comes to emotional connection, Translating to ‘little red book’ and also
They also retain great momentum for La Liga is rivalled (in football-mad Spain) known as RED, shoppable social content
Media & only by the UEFA Champions League. app Xiaohongshu has over 450 million
future growth, with the second-highest Entertainment
average Future Power score of any of the registered users.
Difference Index

13 categories featured in the Kantar BrandZ 1st on Meaningful Demand Power %

AFFINITY
Global report. 2nd on Difference INDEX
6.7
137
1st on Salience 3.3

2020 2023

100 Meaningful Index 140

2023 BRAND VALUE $1,303 M 2023 BRAND VALUE $1,194 M

Seen as a disruptor in the streaming Canal+ is well differentiated based on its

world, Star will soon merge with Reliance numerous high-quality TV channels and
Industries’ Viacom18 in a deal worth its consistently ‘quirky’ advertising style.
$8.5bn.

Brand Strengths:
DIFFERENT 109

SHAKING THINGS UP

C a te g o r y Fo c u s

MEDIA AND ENTERTAINMENT

AC T ION
P O IN T S /
B R AND
1
PRO DUCT
2
ALLOW PARTNER S
3
GO LIVE

B UI LDI NG PL ACEMENT 2.0

Another way generative AI can boost advertising
efforts on media and entertainment platforms is
RO O M TO PL AY
Even amid a slowdown in the Chinese media and
tech industries, WeChat remains the gold standard
In the streaming world, the walls of exclusivity have
crumbled somewhat as streamers have begun to
by finding new ways to embed brand messaging in for the kind of ‘everything app’ that Elon Musk sell off certain properties to streaming competitors
video content. It’s not all about pre-rolls and direct frequently references whilst describing his future and foreign broadcast networks. When brands sell
influencer testimonials these days. According to ambitions for X. One of the ways that WeChat older shows in this way, it’s about unlocking the
The New York Times, a startup called Rembrand retains this status is by allowing partners significant earnings potential of older, long-tail titles so that
has ‘made it easier to insert digital, realistic-looking design leeway when building out gaming, shopping libraries can become actual earnings assets rather
versions of soda cans and shampoo onto the tables and customer service ‘mini programs’ within its than merely repetitional assets. It turns out that the
and walls of videos on YouTube and TikTok’ – in app. WeChat remains distinctive because of the content that works best as ‘exclusives’ for streamers
other words, to provide dynamic, in-video product ways it allows its partners to remain distinctive. It (outside of mega-hits like Stranger Things or
placement for user-generated content. lets them build their own worlds rather than trying Yellowstone) is live content rather than library
to confine them within specific design schemes or plays. Peacock saw a large uptick in subscribers
codes. Recall that 15 years ago, the early promise after broadcasting an NFL playoff game earlier this
of Facebook was that it would ‘declutter’ the year, for example – and Netflix has high hopes for
internet by harmonising content (even games its recent deal to livestream WWE matches.
like Farmville) into a neat blue-and-white design
aesthetic. But now, it’s clear that diversity is what
gets you closer to truly achieving ‘everything.’

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PERSONAL CARE
PE R SO NAL C ARE TO P 15: (US$M)
DEFINITION:

L’ORÉAL PARIS
The Personal Care category includes brands in health and wellness, beauty
and facial, makeup, skin, hair, baby, and oral care.

LANCÔME
COLGATE
PAMPERS PERSONAL CARE
GILLETTE T H AT W O R K S /
GARNIER SCIENCE-LED
ESTÉE LAUDER B E AU T Y S H I N E S
NIVEA
CLINIQUE
DOVE
MAYBELLINE Category Brand Value

HUGGIES
Year-on-Year Change

PANTENE PRO V
OLAY Personal Care Top 15

BATH & BODY WORKS

Total Brand Value

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

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PERSO NAL C ARE

The world’s top Personal Care brands declined slightly

in total value this year, by 1%, signalling an unequal
recovery following last year’s double-digit percentage Robert Campbell
decline. While eight of the 14 brands returning to this Client Partnerships Director
year’s list saw positive year-on-year increases, the [email protected]

other six trended flat or negative.

The big personal care companies have some of the best labs
One factor in this unevenness is a smaller-than- But today, Sephora largely stocks independent and R&D programmes in the world. But sometimes these
expected rebound in China in 2023 (following challenger brands, as well as conglomerates’ brands become so focused on functional superiority that
a period of prolonged pandemic lockdowns medium-sized portfolio players. Meanwhile, they limit their thinking, rather than expanding it based on
in 2022). This dynamic has especially affected the kinds of brands that are big enough to the needs and demands people have. For example, a focus
the world’s top prestige personal care brands appear in Kantar BrandZ’s Global Top 15 for on ‘product, product, product’ won’t help you solve the
– some previously loyal Chinese clients have Personal Care do most of their brick-and- problem of how to present yourself to consumers in a more
simply spent less on luxury-tier purchases. mortar business in department stores and modernised, relevant way. You still need to make sure you’re
Instead they are saving more, and perhaps mass-market retailers. speaking the language of your consumers – to make sure
also opting for home-grown, lower-priced your brand fits into the conversations they’re having around
brands like Proya, which recently became Today, even mass channels like pharmacies, personal care. For that, brands need insights and marketing
the top beauty brand on both Tmall and the groceries, and big-box retailers are recruiting that connects back to human needs and tensions.
Douyin social commerce platform. niche and challenger brands to their shelves
– because that’s what consumers like to see,
Globally, consumers are still spending on and because rights to a niche brand can
personal care, even well past the point of help to differentiate retailers’ offerings in
meeting their basic needs for the category. consumers’ eyes.
For example, an exceptional year for Sephora
drove LVMH’s beauty retail and duty-free What explains the rise of the challenger brand
division to 25% revenue growth and 76% profit this past decade? It’s not just that shoppers
growth for 2023. This was powered in part are lured by the thrill of the new. Nor is it
by the phenomenon of ‘Sephora Tweens’: just because of the highly involved celebrity
packs of Generation Alphas who treat the founders behind some of these brands (Fenty
skincare aisles at Sephora like a toy store. In Beauty by Rihanna, Rare Beauty by Selena
their (precociously well-exfoliated) hands, the Gomez). Consider also that these challenger
future of the category seems secure. brands are early enough in their growth
trajectories to be ‘specialists’ by default,
rather than having to service the vast
product ranges of a long-time legacy brand.

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PERSO NAL C ARE

But big brands from large companies can

play the ‘specialist’ game too – and win.
The way to do so is to signal to consumers
that a brand is ingredient-forward, no-
nonsense and high-performance. That
way, if and when that brand premiumises,
Shirley Sha Hritu Kaur
consumers will credit those price increases Group Account Director Executive Vice President
to superior ingredients rather than seeing [email protected] [email protected]
it as needless expenditure for packaging,
fragrance or ‘marketing hype.’

The above strategy describes the recent In China, the big personal care brands have In India, the personal care market has re-oriented
trajectory of a brand like CeraVe, which been challenged by a new type of business. around spotlighting the role of functional ‘active’
was launched in 2005 and now stands as There are companies that have become expert or ‘hero’ ingredients like hyaluronic acid and
the crown jewel of L’Oréal’s ‘dermatological at rapidly building up new brands – starting niacinamide. These ingredients have also become
beauty segment.’ But even more longstanding almost immediately after a new trend emerges popular around the world. In India, brands can
brands like Nivea, L’Oréal Paris and Pantene on social media. Then, as soon as possible, the also differentiate beyond these ingredients
have also earned their way into the ‘functional challengers do a big performance marketing and by incorporating local influences as well. For
beauty’ consideration set. They have done so social commerce campaign for their brand – example, in most regions of the world it would
by reminding consumers that they’ve always using influencers who promise the same trending be rare to find a hair product with onion extract,
stood for efficacious, lab-developed, value- ingredients, but for less. That leads to strong but in India, onion has been used for hair growth
driven personal care. initial sales, which is usually the main goal. in Ayurvedic recipes for a long time. So alongside
Because when the trend starts to die, the owner the acids and actives, that’s also been a trend
In recent years, brands like Garnier and Olay will just kill the brand altogether. They’re more this past year – hair oils and shampoos with onion.
have also revamped to incorporate more than OK with that kind of failure – because that
‘science’ into their brand positioning. The fruit frees up their infrastructure to build a new brand
of these labours are products like Garnier’s around the next trend.
Hyaluronic Cream Cleanser (a very on-brand
fusion of nature and innovation) and Olay’s
revamped line of multi-active Super Serums.

Both of these launches received strong

pushes on social media. That’s because in the
marketing sphere, the power of sites like TikTok
and Douyin to anoint new hits is undisputed.

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PERSO NAL C ARE

Undisputed, but not completely understood. But while legacy players have to service a
Let’s just say that branding professionals are wider range of products in their marketing
eagerly awaiting new AI analytics tools that plans, a ’superstar’ play can still work to
can shed more light on how to maximise the provide overall lift for a brand. This decade,
effectiveness of their social media ad spends. for instance, the success of Maybelline’s
When digital marketing works, it really works: Sky High mascara – one of the first viral Barry Thomas
Over the past year, Olay for instance has hits of the TikTok era – helped to position Senior Global Thought Leader
seen strong year-on-year equity gains in the brand as offering a unique combination [email protected]
China as it cemented its identity as a brand of innovation, value, and trendiness. That
with the best ingredients for less. positioning continues to pay dividends today,
especially among Gen Z consumers, who
As things stand now, many brands in the tend to be more conscious of value. Brand affordability and value-driven purchases are increasingly
West, especially, default to simply partnering important to Gen Z given their spending power is far less than
with the widest possible range of influencers Indeed, if the Millennial personal care wave previous generations. Gen Z dollars today have approximately
and then hoping that something works out. a decade ago was characterised by beauty 80% less purchasing power than those of baby boomers
(In China, there is a more clearly defined gurus showing off their exorbitant product when they were in their twenties. As such, Gen Z are seeking
landscape of ‘Key Opinion Consumers’ who hauls, today on TikTok you are more likely to more value and affordability than prior generations. And, as
sell on social commerce sites). In some of see a ‘deinfluencer’ telling consumers why such, Gen Z are also purchasing more private label products
these cases – when a social media campaign they should buy one great product instead of than prior generations. CPG brands must understand Gen Z
fails to launch – it’s fair to ask whether some five good ones. Which means that the job of consumers and their affordability challenges in order to recruit
of that campaign spend might have been marketers today is to make sure their brand and retail these crucial shoppers. In many cases, brands have
better allocated toward a more traditional is the ‘one’ and not the ‘five’. to take into account the fact that Gen Z simply has fewer
awareness campaign. Again, this is where AI discretionary dollars to spend.
analytics stands to do a world of good for
the category.

What does seem clear is that today’s social

media marketing rewards ‘star players’
rather than range plays. This is perhaps
another area where challenger brands have
it easier: because they launch with just a few
players, they can focus on making them the
‘superstars’ around which later launches will
eventually orbit.

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PERSO NAL C ARE

B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE FIND NEW SPACE 2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO PAY

$15,021 M Gillette is a highly Meaningfully Different brand,

and as such both commands a high volume share
$7,267 M THE RIGHT PRICE

Nivea’s strong growth stems from providing great

+11% vs 2023 and justifies its premium price for its product range. +19% vs 2023 value in inflationary times. The brand is convenient to
use and easy to find with its distinctive logo – which
Owned by P&G, Gillette offers a wide range of With strong penetration and high Future Power German skincare brand Nivea offers a wide range of has long stood for ‘functional beauty’ with strong
grooming essentials for men, including razors, in the USA male grooming space, Gillette is well face and body care products. product performance.
trimmers, and shaving preparation products. positioned to grow in the future through innovation
and expansion into related categories. Nivea has seen double-digit year-on-year brand value As a Meaningfully Different brand with a low price
Despite facing increased competition and growth. Its strong brand equity has allowed it to enjoy relative to its competitors, Nivea offers a great value
changing consumer grooming behaviours, Gillette’s increased sales volumes while also raising prices. proposition.
double-digit year-on-year brand value growth US male grooming
outperforms the category.
70
Brand Strengths: Strategic Pricing Matrix (Germany)
Dove
Brand Strengths: Own Men+Care
CONVENIENT

Higher
Great Value Margin Opportunity Justified Premium
Label Gillette

DISTINCT
NIVEA L’ORÉAL PARIS
BALEA RITUALS

DISTINCT
Nivea Men BEBE

SUPERIOR
Future Power

Axe

SUPERIOR
Value Average High-Priced

Pricing Power
DOVE GARNIER DIADERMINE
OWN LABEL NEUTROGENA
LA ROCHE-POSAY

Commoditised At Risk Overpriced

ALVERDE EUCERIN
VICHY
30 YVES ROCHER
0 25

Lower
Penetration

Lower Relative Price Higher

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PERSO NAL C ARE

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Lower-priced brands fare Top 20 Personal Care brands

better this year.

Brand value change in the Personal Care

category is strongly related to Perceived
Price, with higher-priced brands more likely
to see year-on-year declines, whilst lower- 2024 BRAND VALUE $922 M 2023 BRAND VALUE $2,733 M
priced brands increase their brand values.
Brand value % change 2023-2024

Dutch beauty brand Rituals draws on French skincare brand La Roche-Posay’s

Softening demand for ‘prestige beauty’ in Eastern philosophies to encourage people philosophy revolves around science-
China has been a particular headwind for to relax and enjoy the little things in life. driven solutions and local provenance
higher-priced brands. (tied to its namesake town where it
MEANINGFUL 101 sources thermal waters).

DIFFERENT 150 PRICING POWER 109

SALIENT 87

Percieved Price

2023 BRAND VALUE $1,423 M

Mid-priced functional beauty brand Proya

has been growing its customer base with
an effective ecommerce strategy.

MEANINGFUL +15
DIFFERENT +3
SALIENT +5

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PERSO NAL C ARE

AC T ION
P O IN T S /
B R AND
1
RE-E X AMINE
2
GO PRO
3
WRITE YOUR

B UI LDI NG MULTIFUNCTIONALITY
Elaborate, multistep beauty routines – in which
each single-ingredient serum or essence performs
The rise of salon beauty procedures like lip
blushing, microblading and eyelash lamination
ACQUISITIO N B IBLE
2023 was a quiet year for personal care mergers
and acquisitions thanks to the effects of high
a single, specialised function – are increasingly out hasn’t gone unnoticed by the big personal interest rates. But acquiring – and, in theory,
of step with the economic times. The ‘multistep’ care brands – but they have not yet been fully nurturing – independent startup brands has
era provided many consumers with a fabulous capitalised on in the same way that, say, L’Oréal become a cornerstone of the modern personal care
education on the role various active ingredients Paris operates its professional hair products playbook for conglomerates. In practice, too many
could play. But now, there’s a new openness to the division. VCs and incubators are eager to back acquisitions underwhelm in the years following
value proposition (not to mention the convenience!) ‘professional beauty’ startups from aestheticians their absorption into a larger corporate structure.
of combining those ingredients into a single, and independent formulators – but there’s no It’s clear that it takes a different skillset to grow an
multifunctional solution. This multifunctionality reason to leave this realm entirely to challengers. acquisition in the digital era than it used to when,
can even be cross-category – Nars Light Reflecting The fear, of course, is that these services could say, Estée Lauder acquired MAC in 1998. Getting this
Foundation, for example, has been a major success cannibalise FMCG sales – but if big brands have right in the future starts with a rigorous accounting
in the prestige beauty space and is one of several found a solution to that for hair care, why can’t of the past: What’s worked? What hasn’t? What
next-generation base products blurring the lines they for other aspects of beauty? are the clear best practices? This is a challenge that
between make-up and skincare. demands a new and different playbook.

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RETAIL
RE TAIL TO P 20: (US$M)
DEFINITION:

AMAZON
The Retail category includes physical and digital distribution
1 channels in grocery and department stores and specialists
in drug, electrical, DIY and home furnishings.

THE HOME DEPOT

WALMART
COSTCO
LOWE’S
TMALL2 VA LU E S E L L S /
IKEA
ALDI T H E N E W R E TA I L L A N D S C A P E
PINDUODUO
MERCADO LIBRE1
TARGET
TAOBAO2
LIDL
TJ MAXX Category Brand Value
SAM’S CLUB Year-on-Year Change
7-ELEVEN
WOOLWORTHS
EBAY Retail Top 20
DOLLAR GENERAL Total Brand Value
FLIPKART
Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ), 1Amazon and Mercado Libre include their retail business only, 2Tmall and Taobao are part of Alibaba group.

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The world’s top Retail brands increased their total

brand value by 4% in an especially strong year
Jed Meyer
for brands focused on low prices. Senior Vice President, Media
Solutions Leader, North America
In context, this qualifies as a modest Amazon’s 6% growth rate was also more [email protected]
recovery. Last year, stock market valuations than enough for it to outpace overall global
and consumer demand tumbled for most GDP growth. Far from being a commoditised
retail brands after consumers moved away clearinghouse, Amazon continues to offer
from their pandemic-era shopping habits. unique value and convenience in categories Retail media has become a hugely important part of the
That retreat left retailers who had poured ranging from furniture to clothing basics revenue equation recently. And there’s a reason why it’s
money and resources into ecommerce – and even prescription drugs. What’s happening now and not five years ago. For this new wave of
exposed to higher costs and lower profits. more, the brand’s rapid scaling of its retail in-store retail advertising – meaning in physical stores, versus
advertising business has reshaped category selling ads on Amazon – the story really begins with advances
This year has not been a classic bounce- expectations about how a retailer can make in LED display technology. These screens are now small
back, as retailers now have to contend with money in a tough economy. enough, thin enough, and affordable enough that we can
another highly unusual market dynamic have monitors all over the store: on end caps, on fuel pumps,
that is price inflation – and its knock-on, These days, following Amazon’s lead, on shopping carts, in elevators.
negative effect on shoppers’ budgets and every retailer has started to think of itself
attitudes. But ultimately, this year held more as a media brand. And why shouldn’t
opportunities than the year before did for they expand into this new space, in an
mass-market retailers to grow their brand age when advertisers are newly in need of
value. Consumers care a lot about value first party data, and brands are keen to
these days, but this can be an opportunity boost awareness of their offerings closer to
just as easily as it can be a headwind. Even the point of sale? In Kantar’s 2023 Media
in 2024, retailers can choose among multiple Reactions survey, 46% of global marketers
paths to growth. say they will increase their budget in retail
media – that number should only grow. In
Amazon, the category leader, has chosen this context, a deal like Walmart’s $2 billion
a unique combination of low prices, acquisition of smart TV maker Vizio should
extremely fast delivery, enormous selection, be understood less as a play to deepen
and membership benefits. Even as other Walmart’s presence in the home electronics
brands grew faster percentage-wise this market – and more as a bid to expand
year, Amazon’s scale remains so big that no Walmart’s media portfolio by gaining
competitor could match close to $10 billion access to ad space on Vizio’s home screen.
in brand value that Amazon added in
absolute terms since 2023.

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Still, at this point, only Amazon can truly be

Amazon. Even brands dubbed ‘the Amazons of’
their home markets have business models that
stand apart from the Seattle pioneer in key Ken Nomura Barry Thomas
ways. In Latin America, Mercado Libre’s retail
wing has grown alongside a unique payments
Manager, Senior Global
infrastructure. In India, rankings newcomer Client Services, Japan Thought Leader
Flipkart’s distribution model integrates local [email protected] [email protected]
stores (kiranas) in innovative ways.

Over the past half-decade or so, investors

in other retail companies may have wished Japan is facing strong and persistent labour The US has seen a growing bifurcation of
that those businesses could simply emulate shortages – a challenge that will only continue to consumers since the 1970s which will only
what Amazon was doing. But it’s become grow worldwide as population growth rates slow. continue. As such, in a lot of categories these
increasingly clear that today, differentiation These shortages have changed so many aspects days, it makes sense to increasingly operate
from Amazon can also win the day. of retail. Convenience stores, for example, beyond the middle class and market to both the
are very important in Japanese life – and until premium and budget price-point sectors. Yet
Walmart, for example, has a unique edge recently, they mostly transacted in cash, with stretching brands to both the high- and low-end
in offering affordable groceries. In the US, employees manning the registers and stocking consumer segments can be hard to do. Which
its grocery business is far larger than any of the stores 24/7. But these days, even with foreign is why you’re seeing deals like the one in North
the largest dedicated grocery chains. And worker programmes, there is not enough staff to America between Unilever and Dollar General to
it has been using that groceries prowess do this. And so there’s been a big push toward create Yes! Honey. This is a haircare brand that’s
to strategically direct consumers to other automation. By using, AI-powered robots to stock high-quality but accessible to today’s budget-
higher-margin (but still low price) areas of its shelves and automated cooking stations for hot conscious shoppers. This is a partnership to
digital storefronts and physical superstores. foods; and by self-checkouts and app-based create a new, retailer-exclusive health and beauty
In a way, this is a classic example of the ‘be payment systems for checkout. In all of these brand and share the profits. The dollar and value
more present’ growth accelerator: Walmart ways, we will become even more efficient using retail segments are some of the fastest growing
is able to offer immediate, attractive sales robots and technology. in retail, so the deal is worth it for Unilever. And
propositions during those moments when for retailers, it’s a model that offers them more
grocery shoppers’ thoughts drift away control over price and range.
from food and beverages, say, and toward
categories like apparel or office supplies.
In doing so, Walmart converts ‘emerging’
purchase intentions into concrete sales
activations before shoppers have a chance
to consider other retailers.

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Put another way: Because consumers trust These examples not only represent strategies What’s interesting is that even in its home
Walmart on value, on some subconscious- for Difference, but for Different value more market of China, Pinduoduo has never been
level, Walmart grocery shoppers may feel specifically. Because ultimately, no brand known as the speediest ecommerce brand for
they don’t need to consider other retailers could get through the inflationary doldrums order fulfilment. But what Pinduoduo lacks in
when their focus shifts toward other of 2023 without an answer to the question of celerity, it makes up in extreme affordability.
categories. It’s Walmart’s brand equity how they, specifically and distinctively, could This is a conscious trade-off that has helped
that ultimately allows them to successfully save consumers money. Even if a given deal or Pinduoduo win over a wider variety of
execute on ‘being more present’; availability value push doesn’t lead to a sale right away, consumers, including in the rural and small-
alone is not enough. communication around value helps with the town areas that today represent China’s
challenge of predisposition: a sense people most attractive pockets of growth potential.
Membership clubs like Costco and Sam’s Club, have that your brand is the right choice, a
meanwhile, have built differentiation around fair dealer when it comes to price. It’s about Another differentiator for Pinduoduo (and
exclusive deals and a unique ‘warehouse store’ creating a positive bias around value. That Temu) is its interface. As with Chinese
bulk-buying experience – a favourite not just is, a bias that gives your brand a head start apparel disruptor Shein, consumers navigate
in the US, but also in Asian markets like China in those moments where consumers feel Pinduoduo’s dizzying array of offerings via
(where Sam’s Club in particular has been they need to be careful with costs, but don’t an organisational algorithm that prioritises
scaling up its ecommerce offer too). These necessarily have the energy for fine-grained discovery of a few featured products at a
brands may not have a wide selection – but price comparison research. time. (In contrast to an Amazon-style search-
they have well-loved private-label brands and based system that takes explicit consumer
feature good discounts on the smaller range By contrast, when retail brands fail to prompts and turns them into gridded
of name-brand goods they do offer. Plus, convince shoppers that they are empathetic displays of merchandise.)
there’s a discovery element: New and unusual and proactive around value, they leave
deals are always cycling into stores. themselves open to accusations of Ultra-fast versus ultra-affordable. Search Nelson Woo
‘greedflation.’ Those accusations aren’t algorithms versus discovery algorithms. Senior Director,
The list goes on. The Home Depot and Lowe’s always fair on the merits (suppliers, not These are some of the main axes around Commercial, Asia
have maintained their relevance by building retailers, often do more to drive price which retail competition in the 2020s will
authentic relationships with the contractor increases). Nevertheless, 2023 was a year revolve. Consumers know their desired end [email protected]
and DIY communities, respectively. Target when less Meaningfully Different retailers point – exceptional value – but it turns out
differentiates via its high-design, lower-priced found themselves taking the blame for there are endless ways to connect them to
private labels (even as higher prices passed consumers’ budgetary struggles. this destination. And therein lies the intrigue.
on from its wholesale suppliers led to overall In Southeast Asia, the big ecommerce players have continued
sales declines this past year). Aldi and Lidl to venture into the world of entertainment. One way they do
Of all the top-ranked retail brands, perhaps
take this private label strategy even further, this is with shoppable live streams, where people tune in to
the least Amazon-like is Pinduoduo. This
turning their whole stores into low-cost watch influencers promote products. But equally important
year’s fastest-rising retail player may be
private label wonderlands. Dollar-store chains this past year has been the rise of gaming on ecommerce
unfamiliar to many outside of China – though
work backwards from a rock-bottom price platforms. Today, the major ecommerce platforms offer a
its overseas spinoff, Temu, has recently
cap to find creative ways to assemble full- wide range of games within their apps. That’s useful because
made waves for its extremely low prices and
service product arrays, from home it keeps people within the brand ecosystem even when the
disruptive digital media spends.
goods to personal care. consumers aren’t actively shopping. If you keep the user
present within the platform, playing a game, it becomes
easier to recruit them to future retail occasions – via push
notifications announcing a sale, for example.

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B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE BE MORE PRESENT 2024 BR AND VALUE PREDISPOSE MORE PEOPLE TO BUY

$21,024 M Aldi sits near the top of the grocery retailer space
when it comes to converting predisposition into
$26,612 M In recent years, Lowe’s has boosted its Salience via its
DIY-focused ‘Lowe’s Knows’ campaign and a partnership
+22% vs 2023 actual sales in the UK. +24% vs 2023 with the National Football League.

German discount grocery retailer Aldi has seen Over the last year, Aldi invested millions of pounds Lowe’s is a US home improvement retail brand. Additionally, the brand has supported its Meaningful
strong growth in 2024, after a year of record sales in price reductions in a bid to soften the impact of Beginning as a hardware store in North Carolina, connections with consumers through meeting more of
in the UK and Ireland. inflation. Aldi also recently opened its thousandth UK the brand is now the fifth most valuable Retail brand their needs. Lowe’s is well known in the US as a superior
store and has committed to opening 500 more. in the world. brand with well-designed products.
Aldi is well regarded by UK consumers for being a
disruptive brand – one that is leading the way and Lowe’s has recently expanded its range by joining
fits well into people’s everyday lives. Grocery retailers, UK forces with a premium workwear brand – and by Home furnishing & DIY retailers, USA
increasing its farm, ranch, and outdoor offerings
25
across 300 rural stores. 200
Aldi is better at converting
predisposition into actual
customers than most
competitor brands in the UK

Aldi

How Salient your brand is

Volume share

In 2023, Lowe’s achieved

the Salience growth needed
and consumers became
more predisposed to buy it

Lowe’s 2023

Lowe’s 2021
Lowe’s position in 2021
indicated it needed to focus
on making its Meaningful
Difference more Salient

0 50 200
20
How Meaningful and Different your brand is
Demand Power share

C a te g o r y Fo c u s

RETAIL

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Meaning pays off for Top 20 Retail brands

Retail brands.

Staying close to consumers’ functional and

emotional needs is increasingly key for brand
value growth in the Retail category. Brand value % change 2023-2024
2023 BRAND VALUE $1,239 M 2024 BRAND VALUE $3,191 M
The more relevant retail brands became to
consumers, the more likely their brand value Value home furnishings retailer Action is the fastest growing non-food
was to increase in 2024 HomeSense was the fastest growing discounter in Europe and features a
brand in the latest Canada Top 40. constantly revolving mix of deals.

DEMAND POWER +0.5% MEANINGFUL DIFFERENCE +7

BOUGHT LAST +3%

Change in Meaningfulness 2023-2024

2023 BRAND VALUE $2,789 M 2024 BRAND VALUE $1,151 M

Global beauty retailer Sephora had the Droga Raia is one of the largest retail
fastest growing brand value out of all drugstores in Brazil, with a network of
French Retail brands in 2023. 1,100 stores.

DEMAND POWER +13 PRICING POWER +5

MEANINGFUL +4 SALIENT +9
SALIENT +7

C a te g o r y Fo c u s

RETAIL

AC T ION
P O IN T S /
B R AND
1
REBAL AN CE
2
DON’T SKIMP ON
3
FIND SUSTAINABLE

B UI LDI NG REL ATIO N SHIP S

This past year, amid ongoing consumer backlash
about ‘greedflation’, some grocery chains – most
STORE MAINTENANCE
It’s clear today that for many retail players, physical
stores can play an important role in boosting
WIN S
In tight economic times, consumers respond best to
sustainability when it’s part of a multifaceted value
notably Carrefour in France – began to pull brands Meaningful Difference if those stores are well proposition that also includes pricing and health
from their shelves rather than accept further price maintained. That’s not always a given in today’s benefits. A sense of pioneering ingenuity doesn’t
hikes from suppliers. These were extreme cases, tight labour market. If there’s a headwind dragging hurt either. Witness, for example, Lidl’s move in
but they speak to a rebalancing that’s underway down the otherwise rising dollar-store channel, Germany to make all of its vegan ‘alternative
between retailers and FMCG brands. With the rise for example, it’s instances of unsafe or unclean meat’ offerings the same price, or cheaper, than
of in-store media and first-party data collection store environments. On a positive note, Walmart their meat equivalents. This was a good way to
practices, retailers will soon know just as much as has launched an aggressive plan to remodel and raise awareness of a sustainability barrier that
the big FMCG conglomerates do, if not more, about upgrade over 1,400 existing stores to offer a more consumers may not have even been fully able to
what consumers want. And thanks to expanded pleasant and contemporary shopping experience. articulate, but now appreciate being solved.
(and higher-quality) private label offerings, they’re Ultimately, experience should be seen as a brand
better positioned to put these insights into practice asset that must be invested in – smartly and
on their own. That makes many retailers less continuously – in the same way businesses invest in
dependent on suppliers than they used to be – not logistics or marketing communications.
independent yet, but less dependent. From there,
retailers now have more leverage to ensure that
supplier relationships recalibrate to become less
one-sided around pricing.

C a te g o r y Fo c u s

TELECOM PROVIDERS
TE LECO M PROVID E R S TO P 10: (US$M)

VERIZON
DEFINITION:
The Telecom Providers category includes brands that provide mobile or
fixed-line telephone or internet services as standalone or bundled packages
(along with other services, like television).

AT&T
TELEKOM/T-MOBILE E X PA N D I N G C OV E R AG E /
XFINITY T E L ECO M S M OV E I N TO
N E W S PA C E S
SPECTRUM
CHINA MOBILE
AIRTEL
NTT
Category Brand Value
Year-on-Year Change

VODAFONE
ORANGE
Telecom Providers Top 10
Total Brand Value

Source: Kantar/Kantar BrandZ (including data from S&P Capital IQ)

C a te g o r y Fo c u s

TELECO M PROVIDERS

The total brand value of the world’s top telcos stayed

essentially flat between this year and last. But beneath
Nick Snowdon
the surface, the story is one of rapid recombination – a
Senior Client Lead,
transformation of what it means to be a telecom brand Brand, Kantar UK
in an age of mergers, bundle plays, and diversification. [email protected]

For the past half-decade, if not more, Whether or not these specific deals go
telecom players have had to confront major through, many telecoms brands these days A lot of European players are thinking about
challenges to their core businesses. As find themselves with several brands and how to consolidate. They’re thinking about how
brands, they were at risk of commoditising as sub-brands to manage – including legacy to leverage each other’s fixed infrastructure –
consumers prioritised low prices above all else flagships, prepaid brands, Mobile Virtual because the fixed infrastructure behind fibre
for their phone and internet service needs. Network Operator (MVNO) spinoffs, and networks and 5G has turned out to be quite
And the cable entertainment category in ancillary services. One of the main decisions expensive. But then that raises the question of
particular faced the risk of secular decline as brands have to make is whether to merge differentiation – if functionally you’re going to
consumers shifted toward streaming. these offerings under one name or maintain be using the same infrastructure as two other
some separation in the hopes of reaching entities you’ve joined with, then the task is really
At the same time, 5G and fibre-optic internet different segments. to build a brand portfolio where each of those
infrastructure – technologies that both brands occupies a different space and persona
governments and business see as essential for For now, the trend seems to lie in consolidating than the others.
future development – have proven costly to until there’s one clear flagship brand, with
build out. This fact, though, has set the stage a few smaller satellite brands then orbiting
for change as some government regulators as needed. For example, in the UK, EE has
have become more open to new deals as a progressively absorbed one-time ‘co-flagship’
way to ensure infrastructure buildout. brand BT; in the US, T-Mobile is now several
years out from having shuttered Sprint.
And so, this past decade has seen a wave
of mergers, acquisitions, and consolidations In the prepaid and MVNO space, meanwhile,
between telecom brands – dampened only owners’ strategies vary. In the US, all major
slightly these past 12 months by higher interest players have continued to build out their
rates. Still, the proposed deals keep coming holdings of these lower-cost operators (while
– for example, the hoped-for tie-up between also leasing network access to independent
Vodafone and Three in the UK, or the possible challenger MVNOs).
merger of Vodafone and Iliad in Italy.

C a te g o r y Fo c u s

TELECO M PROVIDERS

And importantly, many of these prepaid

brands now quite explicitly advertise their
connections to the parent brand. In the US,
for example, the prepaid services Visible Avikhar Rajcoomar
Wireless and Total Wireless explicitly tout
being ‘from Verizon’ in their branding; Metro
Jasmine Guo Account Director,
by T-Mobile takes a similar tack. Director Brand Domain
[email protected] [email protected]
At the same time, Verizon also operates
Straight Talk Wireless, an MVNO sold
exclusively at Walmart that largely stands
on its own. Similarly, AT&T’s primary prepaid In Singapore, the telco battle heating up among South Africa continues to be summoned to ‘load
sub-brand, Cricket, remains an independent MVNO newcomers and established giants will shedding’. Regardless of power interruptions,
brand in its own right. And when T-Mobile drive innovations benefitting individuals and the consumers expect readily available network
acquired Mint Mobile – the MVNO featuring society at large. MVNOs are capturing market connection at their ‘finger tips’. Therefore, it is
cheeky ads from co-owner (and actor) Ryan share by offering younger consumers a slice of essential for telco providers to fulfil the pursuit
Reynolds – it opted to keep that brand’s heaven – truckloads of data at low prices and no of network reliability as a hygiene factor – or else
quirky challenger positioning. commitment. In response, traditional telcos are all other desired product benefits and solutions
seeking ways to connect emotionally and elevate offered by providers may be overlooked since
Regardless, the telecom ‘portfolio play’ has the conversation beyond data to strengthen network connection forms so much of the
come to predominate in a different, equally their value propositions while juggling existing ‘backbone’ of a telco business.
important way. In short, legacy telecom infrastructure. As telcos race to reinforce their
brands have moved aggressively to diversify relevance to daily lives, consumers will be the Similarly, with the increasing competitive price
their services into adjacent business spaces. ultimate winners. pressure and the rising demand for data, it
The notion of a ‘double play’ bundle (offering is critical to leverage data affordability since
voice and internet, for example) now seems data is an enabler for technology and artificial
quaint. These days, telecom brands are intelligence. Without data accessibility, the
offering triple, quadruple, and quintuple plays. intention of making consumers’ lives better
through technology will prove challenging.
Spanish brand Movistar, for instance, now
offers financial, telemedicine, ‘connected
car’, and insurance services to subscribers, all
bundled with mobile, home, and TV under the
umbrella Mi Movistar. Similar offerings are now
popping up in most European markets: Orange
Open, Vodafone One, and MagentaEINS from
Deutsche Telekom, for example.

C a te g o r y Fo c u s

TELECO M PROVIDERS

In the US, some of the most innovative bundles

revolve around streaming entertainment. For
example, Verizon offers bundles of streaming
services like Netflix, Disney+, Max, STARZ and Charlotte Price
AMC+ through its +play subscription management
services – at prices that are cheaper than what the Manager, Brand Solutions Delivery,
streamers offer directly on their own platformers. Insights Division, North America
[email protected]
What’s in it for the streamers, in this case? Why
would they forgo the price increases they’ve
put into place elsewhere in the past two years?
In a word: retention. Essentially, listing on +play In the US, the big story this past year has been convergence,
gives these streamers a chance to step back not only through mergers but also through expansion of legacy
from the relentless churn that comes with brands into new lines of business, creating fierce competition in
selling à la carte themselves: Turnover can be the industry. For example, Verizon and T-Mobile now have their
up to 70% lower for subscriptions managed by own home internet products, and home internet providers like
a central management platform like Verizon’s. Comcast and Spectrum have ventured into the mobility space.
This added competition, in addition to rapid 5G adoption in the
In a way, these subscription and bundling US, is giving consumers more choices and creating the need
programmes are updating the business model for brands to reevaluate the price-value equation. Brands are
of the cable TV providers for the streaming beginning to explore a variety of strategies, including price
age. And so, it’s no surprise that the big cutting, value-add rewards programmes, and renewed focus
cable players are themselves playing the on prepaid mobility portfolios.
streaming-service bundle game – while also
launching MVNOs of their own (see: Xfinity
Mobile, Spectrum Mobile).

From a branding perspective, bundling

offers legacy brands a chance to shift
the conversation away from ‘price, price,
price’, and instead orient toward a wider
consideration of value and convenience.
It keeps them from getting trapped in the
dynamic of offering the same services as
they did years ago but now at steeper prices.
That dynamic can leave brands open to
accusations of ‘greedflation’, regardless of
the reality of increased infrastructure costs.

Most of all, service diversification offers telecom

brands a chance to innovate and differentiate
in ways that consumers can directly see – and
from which they can directly benefit.

C a te g o r y Fo c u s

TELECO M PROVIDERS

B R AND SP OTLI G HT B R AND SP OTLI G HT

2024 BR AND VALUE FIND NEW SPACE 2024 BR AND VALUE BE MORE PRESENT

$31,017 M China Mobile has strong Meaningfully Different

connections with consumers. It predisposes more
$73,516 M Telekom/T-Mobile’s brand is well-served by strong,
distinctive advertising, supporting pricing guarantees
+34% vs 2023 people to buy and is successful at converting to sales, +13% vs 2023 and building the emotional connection
adding 16 million mobile customers in 2023. with the brand. This helps to predispose more people
China Mobile is the world’s largest Telecom Provider, Telekom/T-Mobile has seen its brand value grow by 66% at the right price.
with 991 million mobile customers and 286 million China Mobile can now look beyond mobile and since 2019 versus a category-average decline of 6%.
broadband customers. broadband for expansion – into cloud services, for T-Mobile also has the largest 5G footprint in the USA.
example, where it increased year-on-year revenue Telekom/T-Mobile has achieved this growth through This investment in infrastructure has helped grow
Despite economic headwinds in China, China Mobile by an impressive 65%. innovation, customer satisfaction, and network T-Mobile’s market share in line with predisposition.
has seen an impressive year-on-year rise in brand excellence – as well as through strategic acquisitions.
value. In China, the brand has the highest Perceived
Price among its competitive set – however, its equity Telecom Providers, China Telecom Providers, USA
more than justifies this high price.
70 25

China
Mobile

AT&T
T-Mobile Verizon
Citic
Networks 2023
Future Power

GCN

Volume share
T-Mobile
OCN
2019
BGCTV Spectrum
Great Wall China
Broadband Network Telecom
Xfinity
CBN
China
Unicorn

30
0 80 0 25
Penetration
Demand Power share

C a te g o r y Fo c u s

TELECO M PROVIDERS

DATA SP OTLI G HT B R ANDS WITH M O ME NTUM

Telecoms grow through Top 10 Telecom brands

Meaningful connections and
price justification.
40

Being Meaningful means building clear

and consistent emotional connections,
2024 BRAND VALUE $3,348 M 2023 BRAND VALUE $11,773 M
and meeting consumer needs.
With approximately 99 million customers, India’s biggest telecoms provider is also
For Telecom Providers, this is about being
Brand value % change 2023-2024

Vivo holds a 40% share of the Brazilian number one in its competitive set in
a trusted and convenient choice. telecoms market. terms of Demand Power, with strong
momentum to grow.
From there, the goal is to predispose people
to pay the right price – not necessarily the MEANINGFUL 125
lowest price. FUTURE POWER 131
-10 35
DIFFERENT 128
SALIENT 134

-30

Meaningfulness and excess Pricing Power

2024 BRAND VALUE $1,521 M

Odido emerged overnight in September

2023 in a surprise branding reveal that
united the T-Mobile and Tele-2 brands.

FUTURE POWER 133

C a te g o r y Fo c u s

TELECO M PROVIDERS

AC T ION
P O IN T S /
B R AND
1
CO NFRO NT THE
2
USE MVN OS A S
3
TURN OVER A NEW

B UI LDI NG DATA D ILEMMA

In developing markets especially, consumers may
like the perks or the values that are associated with
MARKETIN G L AB S
When T-Mobile purchased Mint Mobile, it wasn’t
just acquiring the brand’s customer base. It was
LE AF FOR BR ANCHES
What is the proper role for telecom brand branches
in the age of ecommerce, eSIMs and tight labour
certain, more premium brands. But ultimately, also absorbing the MVNO brand’s offbeat, honest, markets? In the UK, EE’s new studio concept
most people will go with whatever carrier offers irreverent (Ryan Reynolds-y) approach to telecoms takes cues from retail concepts like Ikea – by
them the maximum amount of data for what they marketing. MVNO satellites of larger telecom offering hands-on demonstration zones modelled
can afford. That’s because for lower and middle- brands are typically expected to do more with less after living rooms, game rooms, and coworking
income consumers especially, ‘data anxiety’ – for their marketing. Nevertheless, CMOs should spaces. These spaces serve as more memorable
the fear that one will run out of data and lose ensure that their MVNO portfolios are sufficiently demonstration theatres for EE’s range of internet,
access to vital information and entertainment – well resourced to make the occasional big, bold telecom, and ‘smart home’ offerings. And as
is as powerful as ‘range anxiety’ is in the electric marketing swing as a way of infusing fresh brand with Ikea’s model living rooms, they also offer
automobile space. And these concerns around building ideas into the corporation as a whole. consumers more comfortable, pro-social spaces
data limits are only going to grow. After all, global When successfully nurtured, MVNOs can serve as in which to wait, recharge, and interact with staff
data consumption is on pace to triple from its 2022 exemplars of how to exploit Meaningfully Different – certainly more so than typical telecom branch
levels by 2027 (driven by video traffic, according to emotional territories – ideally, of course, in ways environments ever could, thus equipping EE with a
a recent report by PwC). For now, it’s paramount that complement, rather than compete with, the new way of being present.
that brands ensure their value offer and experience larger brand.
touchpoints are optimised to predispose more
people. But going forward, AI may offer new
opportunities to allay consumers’ data anxieties
in more creative ways. For example, it could allow
brands to offer new types of personalised reward,
bundle and discount schemes – especially for
brands that now offer multiple additional services
beyond just talk and data.

CLIENT
PER SPECTIVE S

191 — AB INBEV

194 — HAIER

197 — INFOSYS

200 — MASTERCARD

203 — P&G

206 — PEPSI

Client Perspectives

M A RC E L M A RC O N D E S
G LO B A L C H I E F M A R K E T I N G O F F I C E R
AB INBEV

Marcel Marcondes joined AB InBev How do you believe brands add value Let’s focus on Corona, one of our new
to businesses? entries into the Kantar BrandZ Global
in 2005. Prior to becoming the
100 list this year. What would you say is
company’s Global Chief Marketing For every company that is aiming to grow Corona’s main point of difference? And
Officer, Marcondes held a variety organically, brands are the most important how do you go about maintaining that
of roles at AB InBev, including assets of that given organisation. Being point of difference?
brand-led, being consumer-centric: this is
Global President of Beyond Beer what will guarantee our future. Corona’s superpower lies in how it combines
Co. and Chief Marketing Officer functional and emotional points of difference
at Anheuser-Busch. He also spent Those two attributes work in tandem. in a very smooth and integrated way.
As we become more consumer-centric,
seven years in brand management
we get better at understanding the gaps Emotionally speaking, what Corona stands for is
at Unilever in Brazil. and opportunities that we need to address, that it inspires people to disconnect from stress,
in order to be really meaningful to the from routine – and to reconnect with their true
AB InBev’s portfolio includes more people we serve. selves. And that usually happens when you
are outdoors. So Corona often says, ‘Outside
than 500 global and local brands; And then once we have that clarity, it’s all is out best side’. In everything that Corona
one in every four beers sold about the brands. It’s all about ensuring that does, we try to evoke that moment of having a
globally is an AB InBev product. our brands can deliver against the functional break from the routine: a break where you can
and emotional needs that we’ve identified as reconnect with nature, and reconnect with your
coming from consumers. Our goal is always true nature – to be yourself again, relax, and
to build truly iconic brands: brands that enjoy the moment. That’s very powerful for
consumers not only understand, but also love. any brand, and Corona does it very well.

Now, the tough part is to make sure that

this emotional side connects well with the
functional side too. So if Corona is all about
nature, on on the functional side, it makes
sense that Corona is made with 100% natural
ingredients. If Corona is all about inviting
people to be outside, it’s important
that Corona also takes care of the outside –
we have a lot of programmes in terms of
plastic-free products, protecting beaches,
removing plastic from the oceans. The reason
we do this is not because Corona wants to be
in the headlines, it’s because it connects with
the central reason for Corona to exist.

Client Perspectives

Marcel Marcondes
Global Chief Marketing O f ficer
AB InBev

How do you approach actually creating How do you go about monitoring

content to positively impact consumers’ changing consumer needs to help identify
attitudes? potential new spaces for growth?

It’s about being different and meaningful First we collect a lot of data – the kind of
at the same time. Which is why we invest data, I should say, that helps us to really
a lot in listening to consumers and really understand trends and consumers.
understanding the role that Corona can
play in their lives. Second, we really believe in complementing
data insights with ‘consumer empathy’.
One insight we identified recently was that That means talking to consumers directly,
if we zoom in on this theme of ‘disconnect interacting with them on a human level.
to reconnect’, this desire to ‘take a break We have big programmes geared toward this
and stay outside’ – well, especially after goal within the company – for example, all of
the pandemic, there’s a huge trend toward our leaders must spend at least 30 hours per
consumers valuing travel even more than year interacting face to face with consumers.
they used to. There’s a cohort of young
people today that is not even saving money The third avenue we leverage is our direct-
to buy a house anymore. They’re saving to-consumer platform – namely, the app
money to have a meaningful trip, to have that consumers use in those markets
a meaningful experience. where we can operate direct-to-consumer.
The app allows us to connect consumer
This connects 100% with what Corona understanding with purchase behaviour and
stands for. And so travel has become a new transactional data. We can understand when
experiential platform for Corona. This is people buy our beers, and why – what the
why we just did our first-ever partnerships occasion is, how many people are there.
with Airbnb, and with TripAdvisor – so that
we can really play a meaningful role when And our app for D2C also connects to our
consumers are planning that trip that they’ve use of social media as a growth engine.
been saving money for. We want to make Increasingly, through tools like our app, social
sure that they find their way to an amazing media has become a place where we not
destination, a place where they’re going to only learn about consumers, but also interact
be able to enjoy that unforgettable sunset with them while driving personalisation at
they’ve been dreaming of. We even located scale. The interaction becomes a one-to-
the best places in the world for people to one interaction – and there’s nothing more
enjoy a spectacular sunset. powerful than connecting with consumers
on a one-to-one basis.

Client Perspectives

Marcel Marcondes
Global Chief Marketing O f ficer
AB InBev

This summer in Paris, Corona Cero will And this is what led us to have a
be the Olympic Games’ first-ever global conversation with the International Olympic
beer sponsor. How did Corona strategise Committee prior to the Paris games. And it
around its entry into the non-alcoholic was a great match. The Olympics Games,
space – and how do the Olympics fit in? they have this packed schedule where
something is always happening throughout
It all started when, via all of the consumer the day. And we thought, this is the perfect
monitoring tools I just described, it became opportunity for us to showcase how non-
clear to us that consumers were really alcoholic beer can unlock new consumption
starting to enjoy non-alcoholic beer. occasions. We know that beer is consumers’
beverage of choice when they’re watching
That wasn’t a given – it took a lot of sports – and with Corona Cero, they can
innovation. It took a whole different process drink beer and watch the Olympic Games
to brew non-alcoholic beer with superior throughout the day, across more viewing
taste and enjoyment. But now that superior occasions, because the beer is non-alcoholic.
quality is there. And what beer lovers have
found is that non-alcoholic beer can unlock Our purpose as a company is to create the
new occasions and more moments when future with more cheers. So, we want to bring
they can enjoy the beer that they love. a lot of celebration to the Olympic Games.
That’s when we perform at our best. And
And then, we specifically set out to craft for Corona specifically, it’s about fulfilling
the perfect non-alcoholic beer for Corona. our promise of helping people to disconnect
Keeping in mind those attributes like 100% from stress, and to reconnect with their best
natural ingredients, or how people love to selves, while taking in this huge celebratory
drink Corona with lime – with lime, Corona event – the biggest event on Earth.
Cero is unbeatable; this brand has been
winning multiple awards in terms of being
the best non-alcoholic beer in the world.

So we knew we had a very unique non-alcoholic

beer, a very unique proposition. And from
there, we just started looking for ways to really
accelerate people’s awareness of the meaning
and the difference Corona Cero can bring.

Client Perspectives

ZHOU YUNJIE
C H A I R M A N O F T H E B O A R D A N D C EO
H A I E R G RO U P

Haier Group is a world-leading Haier had strong brand value growth this Tell me about the process of creating
year. How is that tied to Haier’s unique Haier’s slogan ‘More Creation, More
provider of solutions for better status as an ‘IoT Ecosystem brand’? Possibilities’, which is a new brand asset
living and digital transformation. for the company.
Haier’s subsidiary, Haier Smart Essentially, Haier’s ecosystem brand
Home, is one of the world’s positioning has acted as a ‘stabiliser’ for Haier Group officially entered the ecosystem
high-quality corporate development. We brand strategy stage in 2019. After five
biggest consumer-facing used to manufacture devices, now we create years of innovative exploration, we are
companies. Its other subsidiary, ecosystems – and what that’s meant is that now transforming into a fully ecological
the COSMOPlat industrial internet we now create more continuous interactions enterprise. And yes, at the beginning of 2024,
with our users. And then these users become we released the new brand slogan ‘More
platform, is a leading IoT and life-long users thanks to the quality of those Creation, More Possibilities’.
digital service provider. interactions. This gives us a stable revenue
base from which to expand and innovate. Our goal was to develop a slogan that would
communicate more of our values to the
This was not an overnight process. Taking world, and more of our social aspirations.
Haier’s consumer-facing business as an Because those aspirations are really at the
example, it took years to develop a strong core of what we do. With our consumer-
portfolio of brands – but now that we have facing business and with COSMOPlat,
this, we are well positioned to attract and we hope to create open ecosystems that
retain all kinds of users when people are encourage co-creation and win-win benefits
looking to upgrade their home experiences. – thus creating greater social value through
For example, with Casarte, we created a new continuous interaction with users and
lifestyle brand with artistic style. Since then, ecosystem partners.
Casarte has achieved growth thirteenfold in
the past seven years and led the industry in It was important for the slogan to be
three dimensions: average unit price, high- hopeful. Indeed, we see our work as one of
end share, and compound growth. ‘Infinite Possibilities.’ With our COSMOPlat
work especially, we bring so many thousands
More recently, Haier launched the scenario of enterprises together – we really feel Haier’s
brand SAN YI NIAO, which delivers full- work is a testament to what can be achieved
scenario solutions for smart living. In just when traditional boundaries are broken and
three years, SAN YI NIAO has reached over people are inspired to innovate and create
three million households nationwide in China. more. When that is achieved, the possibilities
In 2023, the retail sales of SAN YI NIAO stores are boundless and beautiful – like a rainforest
increased by 84% year on year. with a diverse array of species and lush,
green vegetation.

Client Perspectives

Zhou Yunjie
Chairman of the Board and CEO
Haier Group

‘More Creation, More Possibilities’ is not just In recent years, Haier has independently
a slogan but also an encapsulation of Haier’s developed key AI technologies such as our
vision of an open ecosystem – an ecosystem ‘industrial brain’. But we haven’t stopped
that continuously creates iterative value there. Haier has also worked to achieve joint,
experiences for users and co-creates digital collaborative breakthroughs in common
solutions for industries, thus achieving a technologies of intelligent interaction
positive upward value cycle. engines. We believe in the power of AI
to promote the development of not just
What achievements has Haier made in companies, but industries as a whole – with
technological innovation this year? collaboration, we can achieve a new, high
level of industrialisation.
Firstly, we’ve established a globally leading
technological innovation system. Relying on More and more Chinese brands are trying
our 10 R&D centres globally and our HOPE to expand abroad. What are some of
innovation ecosystem platform, we can draw the learnings behind Haier’s successful
upon more than 250,000 global technology globalisation push?
experts to help us achieve our innovation
goals. And then in terms of how we Yes, the goal these days for many Chinese
formulate those goals, we have developed businesses is to shift from exporting ‘Chinese
a new system that surfaces more localised products’ to exporting ‘Chinese brands.’ In
demand insights. other words, to build truly global brands. But
I would say that at Haier, we’ve learned that
Innovation at Haier focuses on three global brands are most successful when they
dimensions: basic technology research, are, in fact, ‘glocal’ – global and local.
platform-level technology, and product and
solution upgrades. Basic technologies include When going abroad, we must always fully
things like operating system architectures respect local culture and law – that is
and algorithms for household appliances. the foundation and the bottom line of a
Platform-level technologies include new ways successful ‘glocal’ approach. From there, it’s
of thinking about the ‘smart home brain’, about truly committing to your new markets.
as well as enhancements to our industrial
platforms. And product innovation is probably Currently, Haier has established 35 industrial
the most familiar domain for many people. parks, 143 manufacturing centres, and a
sales network of 230,000 nodes worldwide.
These allow us to distribute our products to
more than 200 countries and regions, serving
1 billion user families across the world.

Client Perspectives

Zhou Yunjie
Chairman of the Board and CEO
Haier Group

But it’s not just about logistical reach. With The world economy is fraught with
our 10 R&D centres and manufacturing uncertainties. Looking ahead, what are
systems globally, Haier can also quickly the challenges Haier is facing? How will
innovate new solutions that cater to the needs Haier solve these challenges?
of users in different regions. I think taking
the time to really understand each and every Yes, this is a time of rapid technological
overseas market is very necessary for Chinese development and economic uncertainty.
enterprises that want to succeed abroad. Haier often says, ‘There is no such thing
as successful companies. There are only
At the same time, it’s important to remain companies that step with the changing times.’
a unified brand with a strong identity and And then, also, globalisation is often a positive
proposition. Being the most popular brand in force, but it creates new challenges around
an overseas market cannot be our only goal bridging cultural and communication barriers.
– we must also make sure we are being seen
as a trend-leading premium brand, in line Ultimately, the principle we embrace is
with how Haier has defined itself at home. that of adaptability and flexibility. Many
businesses claim to be flexible, of course. But
What about sustainability? How the difference is that, at Haier, we have had
does Haier continuously advance in our RenDanHeYi model in place since 2005.
sustainable development? It’s a model that creates space for people
and divisions to act as entrepreneurial,
It’s about taking a holistic approach. Haier autonomous actors within our larger
has taken the lead in practicing a ‘six-green’ organisation. And this in turn ensures that
strategy worldwide, embedding low-carbon our global employees are fully engaged and
and energy-saving practices into the entire empowered to seek out new innovations and
product life cycle management. In other new trends. And it’s a model that ensures
words, we have realised ‘green design, that, rather than Haier becoming too fragile
green procurement, green manufacturing, or rigid, it remains a boundless organisation
green operations, green recycling, and that realises self-evolution.
green disposal’. For example, our ultra-
low temperature freezers have seen a 30%
increase in freezing efficiency through new
technology, directly promoting the industry
to energy savings of 50%.

Client Perspectives

SUMIT VIRMANI
E V P & G LO B A L C H I E F M A R K E T I N G O F F I C E R
I N F O SY S

Sumit is the global CMO at How do you believe brands add value Business impact is measured by clearly
to businesses? outlined metrics that makes sense to the
Infosys. A transformative business. Not just those vanity metrics that
marketing leader, he has for That’s a question that really gets at the people in marketing get excited about –
over 25 years shaped brand larger role of marketing itself. The way I number of impressions, or share of voice.
look at it, marketing primarily has two big I’m talking about metrics that show how
experiences and narratives across
roles. One is to really accelerate growth in marketing interventions are impacting
industries and geographies. the short term, and the other is to secure your funnel, impacting your win rate, and
He joined Infosys in 2004 and market share in the long term. And following ultimately impacting your growth. Those are
has since helped navigate Infosys on that, I think brand is an asset that can the metrics for which marketing really has to
advance both of these two objectives. After make itself accountable. If you succeed on
into the league of the world’s all, brand is really the true emotional bond those metrics, that’s when the respect really
Top 100 brands, and to evolve between an organisation and its consumers. comes from the business side – because
it into the fastest growing IT That bond is strengthened through consistent it means you’re succeeding in translating
promise delivery in the short term – ideally marketing spend, and brand power, into
services brand globally.
in a way that reinforces brand – which in short-term growth.
turn will determine how well your business
can follow through on long-term aspirations. And then if you can deliver on those business
Given all this, I think the role of the brand metrics, and on driving short-term growth –
is quite foundational in driving long-term ultimately, you’ll find your marketing teams
business success. will be more empowered to deliver on those
long-term brand impact metrics as well. It all
How do you balance long-term versus just becomes easier. Because over time, the
short-term budget allocation within your business side will observe how the marketing
marketing spend at Infosys? team is working, how they’re delivering on
their short-term goals. And in the process, a
Frankly, there’s no easy answer, no template. kind of education is taking place. Short-term
But there are practices that can lead you to success can give marketing teams the time
success. For example, we have nurtured a and the space they need to demonstrate all
deep partnership between our business and the other great things strong branding can
marketing teams over the years, to ensure achieve – how, over time, stronger branding
that we have a clear approach to how we can drive things like growth and brand
measure marketing success. That marketing premium and market share.
success is measured across two big portfolios:
business impact and brand impact.

Client Perspectives

Sumit Virmani
E VP and Global Chief Marketing O f ficer
Infosys

And once all of that knowledge is shared Our intent, our promise, is to make sure that
within the organisation, it becomes easier we stay by those enterprises as navigators –
for marketing to find the right balance that we will help them transition this change
between short-term and long-term spending alongside them. So that’s what’s driven most
allocation. Because while there’s no one of our innovation in the marketplace. For
formula, no one optimal balance – what’s example, we all saw the big shift towards
crucial is that you’ve built up support for digitalisation during the pandemic – that
the notion that there should be a balance massive acceleration of the cloud. Now,
between short- and long-term investments. we’re seeing a massive shift in AI-driven
thinking. All of these changes have required
From that starting point, yes – allocations a continual evolution of Infosys’s capabilities.
will keep changing depending on the market
environment and the organisational needs. The second dimension of our difference
But all of this is happening within the context lies in our purpose. After all, what you’re
of an appreciation for both short-term and truly about is defined by the purpose that
long-term marketing, all backed by agreed- you espouse into the marketplace. And
upon metrics. Infosys as a brand has been a purpose-
driven brand right from its foundational
What is Infosys’s main point of days, well before purpose became this
Difference, and how do you go about omnipresent narrative. I’m thinking about our
maintaining that? commitment to community, how we started
the Infosys Foundation nearly 30 years ago.
I’d like to summarise that primarily across And our commitment to sustainability: We
the two big pillars of promise and purpose. went carbon-neutral in 2020, which was
The promise that we actually espouse into possible because we started thinking about
the market is all about ‘navigating your next’. sustainability several decades earlier. So
We work with large global enterprises – and clearly, purpose is as foundational to Infosys
what Infosys does is actually help them as its promise, and the combination of that
navigate every transformational turn in is what makes Infosys unique.
their business, whether that turn is driven
by what’s happening in their industry, or
whether it’s driven by a new technology.
(After all, it’s the foundation of tech that
actually enables that transition.)

Client Perspectives

Sumit Virmani
E VP and Global Chief Marketing O f ficer
Infosys

How do you go about monitoring For example, back when there was a massive
changing consumer needs at Infosys? acceleration toward the cloud, Infosys was
one of the first tech services companies
Roger Martin has a very interesting definition able to launch an integrated solution,
of marketing, and it’s something I subscribe Infosys Cobalt, which from the start has
to. Essentially, he says that the challenges of incorporated our strong brand point of view.
marketing all boil down to ‘where to play’ and And similarly, long before AI actually became
‘how to win’. And while most of us spend a fair the buzzword that it did, we were again
amount of time on the latter challenge, ‘how ahead of the pack in launching Infosys Topaz
to win’, I think it’s equally important to spend – a solution that helps clients navigate their
a fair amount of time with ‘where to play.’ AI journey across a portfolio of products,
platforms, and services.
Where should we be playing? That’s a
question that can only really be answered – The reason we were able to be so ‘fast’, in
or answered well – in consultation with your both of these cases, is because we were
business and strategy colleagues. actually being proactive about reading the
early signals. We stayed close to our clients,
To be clear, this is a consultation, or a and in doing so gained an understanding
dialogue, that should flow both ways. of what challenges lay ahead for them –
Marketing, in some ways, is a window challenges that we then applied ourself to,
through which market insights can then flow thinking about how we could best help our
into the rest of the organisation. There are clients from the position of being a true
so many interactions within the marketplace navigator, a true partner. This is where those
– through partnerships with influencers, strong internal partnerships with strategy
for example, or research that you do with and business teams come in, as those are
consumers. And through these interactions, the groups that can convert insights into
marketers can pick up important signals strong actual offerings.
about impending category shifts, and
then actually prepare the organisation to
respond to them.

Client Perspectives

R A JA R A JA M A N N A R
CHIEF MARKE TING AND COMMUNIC ATIONS OFFICER
M A ST E RC A R D

Raja Rajamannar is Chief How do you believe brands add value What would you say is Mastercard’s
to businesses? main point of difference? Is this mainly
Marketing and Communications functional, emotional, or a combination?
Officer at Mastercard, a leading In countless ways, every day. CMOs have And how do you maintain this?
global technology company in the more power than ever to shape the fortunes
payments industry. Raja joined of their brands. Whether helping to fuel Our iconic ‘Priceless’ campaign was built on
growth or creating a sustainable competitive the universal, emotional truth that there are
Mastercard in 2013. In 2021, advantage, marketers need to deliver for their some things that money can’t buy – and
he authored the bestselling book businesses in new and unprecedented ways. that these experiences matter far more than
Quantum Marketing. material possessions. We launched ‘Priceless’
It’s important to note that the brand and a quarter of a century ago, but this idea of
business should always be aligned on the celebrating, curating, and creating moments
company’s ‘North Star’, moving forward in that will be remembered for a lifetime is
one direction. As brand marketers, it is our more relevant and resonant than ever today.
responsibility to foster trust by innovating,
including, and connecting with people in Over time, we have evolved into an
ways that truly resonate. experiential brand that focuses on connecting
with people through the things they love
most. Our strategy is grounded in fostering
trust, creating emotional and authentic
connections with people, and building lasting
positive associations with the brand.

We bring our experiential strategy to life

by connecting to people through universal
passions like music, food, sports, and
travel. We’re constantly innovating to meet
consumers’ wants and needs, whether
that’s by partnering with Live Nation to
give cardholders access to see their favorite
band or launching Priceless India to deliver
once-in-a-lifetime travel experiences. These
experiences provide tangible value to the
billions of people who carry our cards.

Client Perspectives

Raja Rajamannar
Chief Marketing and Communications O f ficer
Mas tercard

Given the sheer size of your brand, At Kantar, we consider a brand’s ‘equity’
what would you say are the particular to be a consumer’s predisposition to
challenges you face in maintaining choose it. How do you approach
difference and relevance? creating content that positively impacts
consumer attitudes?
In recent years, Mastercard has completely
transformed into a diversified technology We build trust and win consumers over at
company serving more businesses in more every touchpoint through our experiential
ways. More than a third of our revenues ‘Priceless’ platform, our innovative
come from our extensive services portfolio, multisensory approach to engagement, and
encompassing cybersecurity, personalisation, our inclusive products and services.
identity verification, data analytics, and more.
Imagine walking into a Mastercard-sponsored
Our marketing strategy has had to evolve soccer event where you come face to face
along with this diversification, and we’ve with our multisensory branding. You smell the
put a concerted effort into meaningfully ‘Priceless’ fragrances and hear a song you
expanding ‘Priceless’ to business audiences. enjoy with subtle Mastercard sonic notes, all
As with our proven consumer marketing while watching your favourite soccer player
approach, we connect through emotion and score the winning goal through tickets you
convince through proof. For us, it’s not B2C bought on priceless.com. At that moment,
or B2B. It’s an integrated, holistic, human-to- Mastercard becomes part of the experience.
human approach. The next time you hear those notes, smell
those fragrances, or watch a live soccer match,
you’re transported back to that joyous day.
That’s the power of our approach!

Additionally, we create products, programmes,

and services that are inclusive, allowing us to
reach more communities. A core part of our
business is to create a world where everybody
can thrive in the digital economy. We hold on
to that ambition through our marketing efforts,
creating products that range from True Name
and Touch Card to make payments safer and
more accessible for different groups of people;
to platforms like Where to Settle, where we use
our powerful network, data, and partnerships
to help people in need.

Client Perspectives

Raja Rajamannar
Chief Marketing and Communications O f ficer
Mas tercard

How do you monitor changing consumer How is AI being used to create closer
needs to identify potential new spaces connections between Mastercard and
for growth? consumers?

Marketing has changed more in the past three The Digital Marketing Engine is just one
years than the preceding 20, and the pace is of many ways we’re using AI to connect
not slowing down any time soon. The newest with people and make our marketing more
AI technologies are distinctly real-time in effective. Another recent example is the
their nature, and that is completely changing Mastercard Small Business AI tool, an inclusive
the way we connect with consumers. mentorship tool that will provide customised
assistance to small business owners. To
For instance, we launched the Digital support this, we created a global media
Marketing Engine to better monitor the coalition to ensure the AI tool is able to meet
ecosystem and ensure that our campaigns the varied needs of all business owners.
are reaching people where, when, and how
they want to be reached. This is a powerful
AI tool that identifies microtrends in real time
and responds quickly through targetted offers
and messaging. For example, if a pop-up
fashion show is happening in New York City,
our tool will identify the microtrend and then
share an ad about fashion-related experiences
on priceless.com to that target audience.

To ensure we continue to keep pace, we

prioritise education and innovation within
our communication and marketing team –
from book clubs and courses to innovation
challenges. These challenges encourage
ideation and sharing at all levels. For instance,
our Mastercard Artist Accelerator was born out
of one such innovation challenge thanks to the
exciting thinking of a junior team member.

Client Perspectives

K I RT I S I N G H
C H I E F A N A LY T I C S , I N S I G H TS A N D M E D I A O F F I C E R
P&G

Kirti Singh joined P&G in 1993. Large companies always have to strike a What role does brand play in pricing
balance between delivering consistency for P&G?
He has held numerous leadership globally, and localising by market. How
positions across P&G businesses, do you think about that balance at P&G? Our pricing strategy is set at a brand level.
and across several geographies Brand is at the heart of all our business
including India, China, Singapore If you start with the consumer, you often end planning, including pricing. Ultimately,
up in the right place. And all consumers are the way we grow our brands is by either
and the U.S. This year, P&G local. So there is no such thing as the ‘global attracting new users, or by making our
brands Pampers, Gillette, Pantene average consumer’ – not in the real world. brands so worth it that consumers are willing
Pro-V, and Olay have once again So our work really starts by understanding to pay a premium. We always keep this in
consumers in the place which they live, in the mind when formulating our pricing strategy.
featured in the Kantar BrandZ context in which they live their lives. What proposition are we bringing to market?
Most Valuable Global Personal What benefit are we offering the consumers?
Care Brands rankings. Once we have arrived at that understanding, And then, in that context, what is the right
we can definitely step back and consider: pricing level that will make it worth it for
Which ideas might travel more widely? Which the consumer to buy? When we formulate a
might not? What we’re really examining here pricing strategy for our brands, in other words,
are core functional needs that our consumers we always do so in a consumer-driven way.
might have. We are a company of everyday
brands, connected to everyday occasions:
washing your hair, cleaning your teeth, doing
your laundry.

To a large extent, people’s fundamental

needs are the same everywhere. What
is of course different is the context in
which consumers live their lives. Our core,
fundamental products are offerings which do
travel more often than not. But market by
market, you do need more local adaptation
when deciding how to communicate it with
the consumers, or how to bring a product
alive on a shelf, or how to stand out online.

Client Perspectives

Kir ti Singh
Chief Analy tic s, Insight s and Media O f ficer
P&G

How does P&G create content that Brands can only be chosen if they’re
can positively impact a consumer’s actually present and available. What
predisposition towards your brands? role can a brand play in helping you
maximise distribution?
Again, it all starts with our brand-level goals
and perspective. I’ll give you an example in The core strategy that our brands follow is
Lenor, which is one of our fabric enhancers to be available in two ways. First, from a
brand in UK. There was a time when that mental availability standpoint, which happens
brand was growing, but not as much as we through communications, through media.
would want it to. So P&Gers in the UK went to And then also through physical availability,
consumers’ homes to really figure out what which is where distribution comes in. It is
was happening. And what they discovered was critical for our brands to be available wherever
that the gold standard for freshness in the UK consumers are going to be shopping for them,
is the ability to dry your clothes outdoors on a whether that is offline or online.
nice sunny day. The problem with that is, in the
UK, nice sunny days don’t happen very often... And again, what we are trying to do is make
sure that when consumers are making that
That insight led us to really going back to the shopping choice, we are providing them with
drawing board – designing the chemistry, the best shopping experience – which lets
the products, to work across all of these them select not just the best brand, but the
conditions. And then, from there, our focus best version of that brand that meets their
was really bringing that innovation to life in needs as quickly and as simply as possible.
our communications, in our copy, and in our So distribution, and the quality of that
packaging. It all centred around the concept of distribution, is very fundamental to our
‘outdoorables’ – really activating the concept brand strategies.
that Lenor has the ability to bring that
outdoor freshness to your clothes, even when
you are not able to dry them outside. And
that’s really what the entire content strategy
has been built around. But you see, it’s more
than just a content strategy – we really had to
get back to what the brand stands for, what
consumer problem we were trying to solve for,
what makes a purchase seem worthwhile to
people. And the consumer insights we surfaced
became the red thread connecting all the ways
we thought about the product, the packaging,
the retail execution, and the communications.

Client Perspectives

Kir ti Singh
Chief Analy tic s, Insight s and Media O f ficer
P&G

And the power of your brands can help But as we’ve spent time with the consumers,
you in conversations with retailers? we’ve also realised what a mental load not
having the dishes clean places on consumers’
It does. What we really strive for with our minds. How much of a weight it is on
retail partners is to grow the market. That’s consumers’ minds to have a dirty kitchen.
really what we are focused on. And that is We learned that doing the dishes is the
a different way of showing up than retailers second most dreaded chore that people
may encounter in conversations with other do in their homes. (The most dreaded one
manufacturers, where a lot of focus is put on being, of course, cleaning toilets). So that
market share. But we have very deliberately made us think more holistically about how
and intentionally focused on market growth, we could improve consumers’ lives in this
while also of course ensuring that our brands context – how we could not only provide the
are leading that market growth. We’ve functional benefit of cutting through grease,
found that once you switch to that mindset, but also address the mental load that is
the relationship with retailers absolutely associated with dishwashing.
shifts toward more of a partnership, where
‘growing the pie’ is a very win-win strategy. And the way to reduce that mental load is
to really reduce the time that people need
Let’s close by focusing in on a specific to spend on doing their dishes. And we
brand. Dawn is a very big brand within measured that – measured how much time
the P&G portfolio [it’s also known as Fairy is being spent on the dishes. And in US, on
in some other markets around the world]. an average, it’s 29 minutes! From there, we
What would you say is its main point really focused on how Dawn as a brand could
of Difference, and how do you go about reduce that burden for consumers.
maintaining it?
And that’s where innovations like Dawn
For Dawn, our thinking about difference Powerwash came from. Powerwash enables
starts with understanding the consumer job consumers to really wash on the go, to get
to be done – and then defining how Dawn the dishes done very quickly, thus reducing
(and every other P&G brand) can be superior the mental load that they face.
on that core benefit. In the case of Dawn,
the starting point is cleaning dishes and What’s the lesson from that experience?
cutting through grease. And Dawn, or Functional superiority is important – but it’s
Fairy, is absolutely superior on that core also important to take that extra step and
functional benefit. see whether there is an emotional or social
benefit that we can provide as well, to really
complement that superior brand experience.

Client Perspectives

JA N E WA K E LY
EXECUTIVE VICE PRESIDENT, CHIEF CONSUMER & MARKETING
OFFICER, CHIEF GROWTH OFFICER, INTERNATIONAL FOODS

As Chief Consumer and Marketing How does PepsiCo think about deploying But it also imbues new meaning. The pulse,
its distinctive assets in a consistent and the logo, the energy that comes from the
Officer and Chief Growth Officer, connected way? Pepsi visual ID relaunch that went around
International Foods at PepsiCo, the world makes you feel something. It
Jane oversees PepsiCo’s Global Memory structures, distinctiveness, brand moves you, it makes you feel energised,
Consumer organization (Marketing, meaning – it’s all built over generations. it’s incredibly exciting. And that visceral
It’s very hard to do that with speed. As response, that emotional response is
Insights, R&D, Design) across marketeers, we stand on the shoulders of triggering new memory structures that pull
PepsiCo brands portfolio which the giants that went before us. And joining from the past but distinctly propel us into
includes a wide range of enjoyable PepsiCo, I’m very humble to the generations the future. So that’s super exciting as well as
of incredible marketeers who have built ambitious in terms of its strategic meaning.
beverage and convenient foods these brilliant brands.
portfolio such as Lays, Doritos, Our Zero products have fantastic taste and
Cheetos, Gatorade, Pepsi, One of the things that the greatest brands zero sugar. So, when we launched the new
Mountain Dew, Quaker, and in the world do is drive consistent meaning visual ID, Fast Company issued a fantastic
and distinctiveness because that’s the way quote: ‘It’s a subliminal war on sugar’. I
SodaStream. Jane also leads to ‘shortcut’ into the memory structure and thought that was very interesting. They’ve
the International Foods Group in the fabric of culture. understood we are making Pepsi Zero our
support of PepsiCo’s efforts to hero. We still offer choice – and for some our
Pepsi is a great example. Someone said to full sugar Pepsi is still preferred – but we are
accelerate growth in this fast- me the other day, ‘Why did you do a new confidently using our mental and physical
growing strategic category. Prior to logo for Pepsi? What was behind that?’ availability to nudge consumers towards
joining PepsiCo, Jane was the Lead It’s not a new logo, it’s a visual ID that considering Zero.
CMO at Mars Incorporated and deeply draws from the past, from where
Pepsi comes from, what it stands for, from Actually, part of our branded strategy is to
enjoyed experience across Petcare, the shortcuts in people’s memories that create one brand, not distinct SKUs and hero
Confectionery and Foods sectors. distinguish and make Pepsi recognisable. SKUs that all need to be advertised, and that’s
going to help us. If you look at the colours
and at how we are using black, it’s all about
propelling us into the future where Zero is
becoming a much bigger part of our portfolio.
In the UK, it’s not only our biggest subline, it
takes the highest share in cola overall! This
shows that bold moves to prioritise mental
and physical availability has built portfolio
strength distinctively for the future.

Client Perspectives

Jane Wakely
E xecutive Vice President,
Chief Consumer & Marketing O f ficer,
Chief Grow th O f ficer, International Foods
PepsiCo

At PepsiCo, how do you go about How do you go about identifying new How do you ensure your brands maintain
retaining a Meaningful connection with spaces at PepsiCo, how do you actually their relevance and that Meaningful
consumers generally? do that in practice? connection with consumers?

Brands’ great power and great value is the It’s about projecting the future of demand, We say that the beating heart of what we
feeling they elicit. I think as marketers, we and the future of your category. At PepsiCo, do is human centricity. How do we deeply
often go too deep into ‘system-two thinking’ this is what we call the ‘Change Compass’, understand those universal truths, the deep
– that sort of deep post-rationalisation mode. which is our proprietary tool. I really love it needs and desires of the people we serve?
The reality is that the power of the best, most because it takes a mixture of macro forces How do we create that strong bond between
powerful brands in the world does not rely on and social listening that uses many, many consumers and our brands?
that thinking. The second you say the name, data sources – to create foresight that starts
you feel something, you feel an emotion. to help us have a crystal ball. There’s an incredible example of this that
And there’s a very salient, distinctive we’ve launched at the moment with Quaker.
meaning that immediately comes to mind. And I always say there’s only one thing you If you start at the basic insight, Quaker is the
can guarantee when you predict the future breakfast that sets you up for the day. The
For example, Doritos is one of my personal – that you’re going to be wrong. So don’t latest Quaker campaign of ‘You’ve Got This’
favourites in our portfolio. Its appeal is so predict too firm a future. What we do is we really brings to life that support that both the
immediate – it’s a triangle in the world of scenario plan. We look at the foresight. And product and the brand give you at the start
circles. It’s breaking the mould. It’s really when we’re at our best, we literally push the of the day. But we also then layer in another
about bold self-expression and doing things corner of the envelope to really understand emotional component, one that adds a more
differently, taking another angle. And different possible futures that this could mind-opening and heart-opening dimension
however you express it, whatever words are create. And I think the power of that exercise – because it’s not just the bowl of Quaker
used, that meaning is extremely tight. lies in using really diverse thinkers – people that sets you up for the day, it’s often the
with diverse backgrounds, skills, and cultural support of the person who may be making
The best brands in the world have the paradigms, so that you really push the that bowl of Quaker for you.
tightest, most distinctive meaning. That’s boundaries of what the future could create.
what we are looking for in our brands, and And then as a category leader, a category We’re always looking to unlock that deep
that’s what drives the most powerful brands shaper, you start to say, ‘So in that scenario, meaning – to find creative that really unlocks
in the world. how could our business flourish? How could the ultimate expression of why a moment
we delight the consumer? How could we counts most. Because when you achieve
shape the future of our category to meet that, it’s so universal. And deep, universal
unmet needs here today?’ And I think that’s human truths unlock emotion; this is where
the mark of leading brands that really lead distinctiveness is going to be very crucial
and shape their categories. They don’t just over the coming years.
hold the mirror up to the current reality and
react. That’s a really exciting part of defining
the demand growth of the future.

R E S O U RC E S

209 — BRAND VALUATION

METHODOLOGY

213 — REPORTS & PUBLICATIONS

214 — ABOUT US

216 — OUR BRAND EXPERTS

224 — KANTAR BRANDZ TEAM

226 — CONTACT US

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K ANTAR BR ANDZ BR AND

VALUATIO N METH O D O LO GY

INTRODUCTION Impor tance of brand Impor tance of Globally accredited

brand valuation MDS Framework

A Kantar BrandZ ranking of brand valuations The Kantar BrandZ valuation methodology Brands embody a core promise of values Brand valuation is a metric that quantifies Kantar’s Meaningful, Different, Salient
lists the brands making the largest absolute can be uniquely distinguished from its and benefits consistently delivered. Brands the worth of these powerful but intangible Framework is the only brand equity
$ contribution to the total value of their competitors by the way we use consumer provide clarity and guidance for choices corporate assets. It enables brand owners, measurement approach endorsed by
respective parent companies, considering viewpoints to assess brand equity. We strongly made by companies, consumers, investors the investment community, and others to the Marketing Accountability Standards
both current and future performance. believe that how consumers feel about a and other stakeholders. Brands provide the evaluate and compare brands and make Board (MASB).
brand determines its success or failure. signposts we need to navigate the consumer faster and better-informed decisions.
This is the true value of brand building and We conduct worldwide, ongoing, in-depth, and B2B landscapes. MASB’s process, the Marketing Metric
we want to isolate and reward the brands quantitative consumer research and build up Brand valuation also enables marketing Audit Protocol (MMAP), is a formal,
making the largest contributions to the a global picture of brands on a category-by- At the heart of a brand’s value is its ability professionals to quantify their achievements industry-recognised process for assessing
success of their parent companies. category and market-by-market basis. to appeal to both relevant and potential in driving business growth with brands, and connections from marketing activities
customers. Kantar BrandZ uniquely measures to celebrate these achievements in and metrics to financial performance.
A company may have huge overall business Globally, our research covers over 4.3 million this appeal and validates it against actual the boardroom.
value but the absolute $ contribution made consumer interviews in 532 categories, sales performance. Brands that succeed in This means our MDS framework is
by the relevant brand(s) that the company and 21,000 different brands in 54 markets. creating the greatest attraction power are independently validated to deliver
owns may not be a comparatively large This intensive, in-market consumer those that are: commercial outcomes and pinpoints long-
figure – at least not a large enough figure research differentiates the Kantar BrandZ Distinc tion of Kantar term measures of brand value growth. It
to qualify for the given Kantar BrandZ methodology from competitors that rely Meaningful means the Power metrics that you get from
ranking of brand values. only on a panel of ‘experts’, or purely on In any category, these brands hold more
BrandZ valuation the MDS are very effective tools to help you
financial and market desktop research. appeal, generate greater ‘love’ and meet build your brand’s value and deliver growth.
The brands that appear in this report are the individual’s expectations and needs. Kantar BrandZ is the only brand valuation tool
the most valuable globally. They were Before reviewing the details of this methodology, that peels away all the financial and other
selected for inclusion in the Kantar BrandZ consider these three fundamental questions: Different components of brand value and gets to the
Most Valuable Global Brands 2024 report why is brand important; why is brand valuation These brands are unique in a positive way core – how much brand alone contributes to
based on the unique and objective Kantar important; and what makes Kantar BrandZ and ‘set the trends’, staying ahead of the corporate value. This core, what we call Brand
BrandZ brand valuation methodology that the definitive brand valuation tool? curve for the benefit of the consumer. Contribution, differentiates Kantar BrandZ.
combines extensive and ongoing consumer
insights with rigorous financial analysis. Salient
They come spontaneously to mind as the
brand of choice for key needs.

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THE VALUATION PROCESS Par t 1 – Calculating Financial Value

Kantar BrandZ valuations isolate the value ELIGIBILITY CRITERIA STEP 1 STEP 2 STEP 3
generated by the strength of the brand alone Brands appearing in the Kantar BrandZ Most We begin with the brand’s parent company, Next, we need to determine the proportion of The final step is to consider the projected
in the minds of consumers i.e. with all other Valuable Global Brands 2024 ranking must which generates earnings from: these Intangible Earnings that are directly earnings of the brand in question, which
elements removed. satisfy at least one of the following criteria: attributable to the brand we want to value. measures the brand’s ability to generate
1. Tangible assets (assets with a physical To do this we take the Intangible Earnings earnings in the future and requires the
To achieve this, we calculate and combine • The brand is owned by an enterprise form, which include fixed assets such as identified in Step 1 and apply the Attribution addition of a final component – the Brand
two important elements: Financial Value and listed on a credible stock exchange, buildings, machinery, land, current assets Rate, which literally attributes a proportion Multiple, which is also calculated from
Brand Contribution or its financial information is available e.g. cash and inventory). of the parent company’s Intangible Earnings financial data sourced from S&P Capital IQ.
in the public domain to the brand we want to value. It’s similar to the calculation used by financial
1. Financial Value – the proportion of the 2. Intangible assets (such as patents, analysts to determine the market value of
total $ value of the parent company • Unicorn brands must have their most trademarks, brands). The Attribution Rate is determined by stocks (Example: 6x earnings or 12x earnings).
that can be attributed to the brand in recent valuation publicly available analysis of brand-level financial information
question, considering both current and Example: ‘Volkswagen AG’ is a parent from the parent company’s published When we multiply the Branded Intangible
future performance. company that generates earnings from financial reports and other credible sources, Earnings from Step 2 by the Brand Multiple,
tangible assets like its manufacturing plants such as data from Kantar. we reach the brand’s true Financial Value –
2. Brand Contribution – quantifies the and equipment, as well as its intangible i.e. the proportion of the parent company’s
proportion of this Financial Value that is assets, so the brand names under which the Once the Attribution Rate is applied to $ value that can be attributed to the brand
directly driven by a brand’s equity i.e. the cars are sold – Volkswagen, Audi, SEAT, etc. Intangible Earnings, we are left with Branded in question, accounting for current and
ability of the brand to deliver value to the Intangible Earnings i.e. the proportion of projected performance.
company by predisposing consumers to To determine the proportion of earnings the parent company’s Intangible Earnings
choose the brand over others or pay more directly derived from the company’s that can be attributed to the specific brand
for it, based purely on perceptions. intangible assets we begin with Corporate in question e.g. this step would attribute a x
Earnings – sourced from S&P Capital IQ, proportion of Volkswagen AG’s Intangible 1 Intangible
Note: This does not include the proportion of which represent the latest annual earnings Earnings to Volkswagen, Audi, SEAT, etc. Corporate Ratio
consumers who choose the brand for reasons reported by the parent company. Then, by Earnings
other than this predisposition e.g. those using other financial data from the same
attracted by price promotions, a particularly sources, we calculate and apply a metric x
prominent display, etc. Such purchases are 2 Attribution
called the Intangible Ratio. FINANCIAL Intangible Rate
not due to the brand’s equity and so are VALUE = Earnings
removed as part of the process. By multiplying Corporate Earnings by the
Intangible Ratio, we are left with Intangible x
Earnings, which represent earnings derived 3 Brand
Branded Multiple
from intangible assets.
Intangible
Earnings

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K ANTAR BR ANDZ BR AND

VALUATIO N METH O D O LO GY

Par t 2 – Determining Brand Contribution Par t 3 – Calculating

Brand Value

To arrive at the true value of the brand Using Kantar BrandZ’s unique survey-based Brand Value is the $ amount that the brand
(i.e. the asset in the minds of consumers), brand equity model (Meaningful Different contributes to overall business value of the
we need to quantify its strength relative to and Salient framework), we are able to parent company. This is calculated as follows:
competitors i.e. to isolate the Financial Value quantify a brand’s abilities in each of these
that is directly driven by its Brand Equity. three areas relative to competitors, with a
This allows us to understand the proportion survey-based measure:
FINANCIAL
of the Financial Value that is explained by the VALUE
brand alone, and hence the total $ value of (i) Current demand = Demand Power
the brand itself. A brand’s equity can impact
BRAND
VALUE = X
consumer behaviour and contribute value to (ii) Price premium = Pricing Power BRAND
a corporation in three ways: CONTRIBUTION
(iii) Future demand and price = Future Power
1. Current demand – based on the strength
of its equity alone, a brand can influence The first two of these measures contribute to This is the final Brand Value figure that
consumers to choose it over others in the the proportion of the company’s total value appears in the valuation, positioning the
present – generating volume share. accounted for by the brand’s equity alone brand within the ranking as one of the
i.e. the Brand Contribution. country’s strongest and most valuable.
2. Price premium – based on the strength
of its equity alone, a brand can influence
consumers to be willing to pay more for
it over others – generating value share
and profit.

3. Future demand and price – based on

the strength of its equity alone, a brand
can influence consumers to buy the brand
more in future or to buy it for the first time
at the desired price – increasing volume
and value share in the future.

SHAPE YOUR
BR AND FUTURE
Kantar is the world’s leading marketing data
and analytics business and an indispensable
brand partner to the world’s top companies.

We combine the most meaningful attitudinal and behavioural data with deep
expertise and advanced analytics to uncover how people think and act.

We help clients understand what has happened and why, and how to shape
the marketing strategies that shape their future.

To find out more, please visit: kantar.com

GOIN G GLO BAL?

WE WROTE THE BO O K. K ANTAR B R ANDZ REP O RTS

Kantar BrandZ: MOST VALUABLE BR ANDS INSI GHTS SP OTLI GHT

The ultimate resource for
brand knowledge and insight • Global • US Banks • Belgium (Strong Brands)
• Australia • US Business Solutions & Technology • Canada
• Brazil • US FMCG • Cuba
Our Kantar BrandZ country reports contain unparalleled
market knowledge, insights, and thought leadership • Canada • US Media & Entertainment • Emirati & Saudi
about the world’s most exciting markets. You’ll find, in • China • US Retail • Hong Kong (Strong Brands)
one place, the wisdom of Kantar’s brand building experts
from all regions, plus the unique consumer insights • Netherlands • India
derived from our proprietary Kantar BrandZ database. • Emirati and Saudi • Mongolia

If you’re planning to expand internationally, Kantar • France • Myanmar

BrandZ country reports are as essential as a passport. • Germany
• Global Brand Builders
• India
in association with Google
• Indonesia
• Italy
• Latin America
• Mexico
• Japan
• South Africa
• Southeast Asia
• South Korea
• Spain
• Sweden
• UK
• US

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K ANTAR

Kantar is the world’s leading marketing data and analytics company.

We have a complete, unique, rounded understanding of how people
think, feel, and act – globally and locally in over 90 markets.
By combining the deep expertise of our people; our data resources
and benchmarks; and our innovative analytics and technology,
we help our clients understand people and inspire growth.

To learn more about how to obtain valuable insights applicable to

all business areas, please contact:

Chris Jansen Ted Prince

Global CEO, Group Chief Produc t
Kantar O f ficer, Kantar
[email protected] [email protected]

For the latest news and studies from the Kantar network globally,
visit: www.kantar.com

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OUR BR AND E XPERTS

WHO CONTRIBUTED IDE AS, RESE ARCH, INSIGHTS, AND THOUGHT LE ADERSHIP TO THE REPORT

Margherita Sarah Ackling Sophie Adnitt Jorge Alagon Patricia Alcalde Ahmed Ashraf Lauren Aspden Puneet Avasthi Hannah Avery Jan-Marc Diego Banderas
Abbati Senior Client Success Health and Beauty Global Head of Data Global Client Executive Senior Director, Customer Head of Growth Strategy, Director, Media, Technology, Consumer Insights Director, Baeumler Brand Director
Client Associate Director, Director Consumer Insight Director, Science Innovations at Kantar Consumer Experience Domain Lead SEA, Consulting B2B and Life Sciences, Kantar Entertainment on Commercial Domain Expert,
Advisory & Analytics and Kantar Worldpanel Technology Insights Division Demand Innovation, Germany
CX Practice

Kelley Baron Marcela Francisco Bayeux Greg Biro Biswapriya Hari Blanch Deborah Bobier Luis Bosisio Niels Bouwman Jessica Bower Caroline Bright
EVP, Global Client Director – Barvinkova Brand Expert Director, Head of Ad Hoc Brand Bhattacharjee Bennett Vice President, Brand Solution Expert Client Director Brand & Director in Brand & Culture Director
Coca-Cola Regional Account Director Head of Creative Valuation EMEA, Client Services Media, Insights Division Practice, Singapore,
Director B2B & Technology Associate Director in
Development, Brazil, Consulting Division Consulting
Creative Strategy, Consulting
Insights Division

Charlotte Brown Gonca Bubani Jeremy Burbank Karen Cai Mike Campbell Robert Campbell Juliana Cavallari YeeMei Chan Fergus Channell Winnie Cheng Hwangoo Cho
Senior Client Director Global Media Thought Partner, North America, Head of Automotive, VP, Client Leadership, Client Partnerships Director Account Director Director, Global Clients, Consultant, Digital Analytics Senior Commercial Strategy Client Service Director,
Leadership Director, Consulting China, Kantar Client Management, APAC Director, Analytics Auto Lead
Insights Division North America

Resources

OUR BR AND E XPERTS

WHO CONTRIBUTED IDE AS, RESE ARCH, INSIGHTS, AND THOUGHT LE ADERSHIP TO THE REPORT

Allie Conrad Siobhan Paul Cowper Ryan Crooker Rachel Dalton Joe Darlington Maria Darmi Subhashish Satish Dave Lydia Davey Stephen Dell
Vice President, Media US, Counihan-McGee Senior Partner, Consulting Vice President, Client Head of Retail Insights, Senior Client Lead, Global Client Director Dasgupta Director, Customer Senior Consultant, Senior Client Lead, Brand
Insights Division Delivery, Canada, North America Brand Domain, UK, Senior Client Leader and Experience, MENAP Creative Strategy Consulting,
Senior Director, Brand
Insights Division Insights Division AI Commercial Lead, UK
Solutions Delivery
North America

Laura Derrick Ankit Dhingra Kitty Dong Jamie Donovan Rohan Dsouza Jake Dubuque Alejandro Duenas Gabriella Jose Luis Estrada Patrick Fellin Iris Feng
Senior Vice President Director, Brand and Shopper, Account Director, China Client Director Director - CX, UAE, Kantar Managing Partner, Senior Account Executive, Eden-Badger Brand Director Client Partner, Group Account Director,
Insights Division Brand Strategy Insights Division North America, Kantar B&C Quanti, China
Consulting Director,
Brand Consultancy Division

Jing Feng Wee Shailley Firdous Patricia Flores Dan Foxman David Friedman Isabella Gemelli Wendy Gerber Myles George Jodie Gillary Marc Glovsky Pierre Gomy
Insights, Domain Expertise Associate Director, India, Dupty Lead, Brand Media & Director, Global Clients, VP, Brand Solutions Strategy Associate Director, Senior Partner, Director, Brand Strategy Head of Client Impact, Senior Brand Strategist Global Head of Luxury -
Team, Innovation Senior Consumer Insights Creative, France APAC Brand Strategy & Guidance Brand Consulting Brand, UK, Insights Division Head of Sustainability,
Expert, Japan Central & Southern Europe

Resources

OUR BR AND E XPERTS

WHO CONTRIBUTED IDE AS, RESE ARCH, INSIGHTS, AND THOUGHT LE ADERSHIP TO THE REPORT

Lindsay Andreas Grotholt Doris Guan Jasmine Guo Nishi Gupta Parvez Halde Gemma Hall Jonathan Hall Jack Hamlin Erin Harrison Peter Hartt
Gorton-Lee Commercial Lead Brand, Director of Brand & Creative Director Client Leader, Vice President, Global Client Director Head of the Sustainable Global Consumer Insights VP, Client Partner Senior Vice President,
Media and Creative Practice, Insights Division Partnership Clients, Insights Division Transformation Practice Director Client Services,
Brand Strategy Consultant
Indonesia, Insights Division Brand Solutions

Susan Hassett Françoise Hernaez Jeff L Herrmann David Hluska Rob Huijboom Zuzana Jankovská Anang Jena Adrian Johnson Thor Johnson Rhiannon Jones Irene Joshy
Client Partner, Head of Luxury, VP, Global Client Director Client Partner Head of CX Regional Director, Executive Vice President, Senior Client Lead, UK Client Partner Strategic Foresight Specialist Head of Creative, APAC
North America, France, Kantar Global Accounts Automotive Sector Lead,
Insights Division Insights Division

Ashley Kang Ginto Kannoth Hritu Kaur Dawn Kiernan Albert Kim Mike Kniesche Lina Kraskauskaite David Krull Nithia Kumar Rajesh Kumar Brian Kushnir
Global Head of Beauty, Group Account Director Executive Vice President Senior Vice President, Operation Director, Korea Kantar Commercial – Global Commercial Business Partner Global Client Director Head of Experience Solution, Global Client Director Global Client Director
Kantar Worldpanel Division Client Partner, (supporting Samsung BAS Account Lead APAC & Global CX Product
Media & Entertainment, MCP), Insights Division Lead
Insights Division

Resources

OUR BR AND E XPERTS

WHO CONTRIBUTED IDE AS, RESE ARCH, INSIGHTS, AND THOUGHT LE ADERSHIP TO THE REPORT

Mary Kyriakidi Tejaswini Lachke Carola Lattuada Holger Laube Deborah Lawson
Global Thought Leader, Vice President, Senior Client Executive, Senior Director & Domain Business Development
Brand Insights Division Innovation & Commerce, Lead Capabilities, Germany, Director, Brand, Insights UK,
Trend Cult Leader, Kantar Kantar
Insight Division

Daphne Lee Richard Lee Christian Leglise Michael Lenzen Piers Lindsay-
Senior Consultant Business Unit Director, Drinks Brand Senior Director Seniro Director, Brand Taylor
Domain, Insights Division Strategic Client Partner

Pedro Lopez Michał Lutostański Sreyoshi Maitra Maik Manig Bunvibha Martin
Senior Brand Director & Strategy Business Director, Shopper Domain Lead, Client Director, Brand Senior Director, Innovation
Head of Media Poland South Asia and Brand Strategy Lead

Resources

OUR BR AND E XPERTS

WHO CONTRIBUTED IDE AS, RESE ARCH, INSIGHTS, AND THOUGHT LE ADERSHIP TO THE REPORT

Claire Martin Insaaf Martin James May Margaret McKellar Scott Megginson Tarun Menon Jed Meyer Maslina Mokhtar Mark Molenaar Anyawee Dr Nicki Morley
Senior Director Account Director, US CPG Sector Lead Senior Vice President, President, Canada, Group Account Director Senior Vice President, Client Partner, Brand Director, Customer Mongkolteeraphirom Head of Behavioural Science
Insights Division Client Partner, Kantar Media Solutions Leader, Guidance and CX Experience, Sub-Saharan and Innovation Expertise, UK
Associate Director, Insights & Innovation Expert
North America, Kantar North America Africa, Insights Division Insights Division for the Kantar Sustainable
Transformation Practice

Soumen Vishagh Rajesh Nagare Mansi Nagpal Julio Negrete Alistair Nel Ken Nomura Josephine O’Brien William O’Connell Karlene O’Hara Liesl Osborne
Mukherjee Muthirakalayil Executive Vice President, Group Account Director, Senior Director, Senior Director, Business Manager, Client Services, Global Consumer Insight Vice President, Global Chief Product Officer, Account Director
Kantar IMRB India Brand Creative and Brand Domain Development, UK Japan Director, WorldPanel Brand Solutions Worldpanel Division
Managing Partner, Senior Consultant
Brand Solutions Media Practice, China,
Insights Division

Adhil Patel Loïc Pean Luciana Pepe Ricardo Pérez Yamina Pérez Martine Philippe Dave Phillips Edlyn Phua Simona Sven Plach Nongnoot
Director, Brand, South Africa, Senior Director, Insights Senior Account Manager, Head of Brand Guidance, Associated Director Brand Guidance Lead, Executive Client Director, Director Pietropaolo Associate Director, Poungpong
Insights Division Insights Division Insights Division Kantar Insights, Belgium Global Clients, Global Client Senior Client Executive, Kantar Insights Division, Head of Brand Strategy,
Leadership Innovation Brand Domain Innovation and CX -
Qualitative

Resources

OUR BR AND E XPERTS

WHO CONTRIBUTED IDE AS, RESE ARCH, INSIGHTS, AND THOUGHT LE ADERSHIP TO THE REPORT

Charlotte Price Aruna Rajaram Avikhar Rajcoomar Shobhana Libby Randall Jana Rathouská Luboš Rezler Marie Ridgley Ted Riedel Helen Rowe Daneev Roy
Manager, Brand Solutions Director, Insights UAE Account Director, Ramachandran Senior Client Executive, Senior Client Partner Senior Client Director Executive Client Director, Retail Practice Leader, Brand Consultant, Client Partner
Delivery, Insights Division, Brand Domain Global Client Director Brand D & I Global Client Leadership North America, Kantar Kantar Insights UK
North America

Colm Ryan Mahadevan S Sandeep Salunke Adji Saputro Toshimitsu Sekii Shirley Sha Mary Shenouda Irina Shkinderova Lauren Věra Šídlová Ajay Singh
Global Category Analyst Vice President, Insights Vice President, Head of Partnership Clients Client Service Unit Head Group Account Director Senior Director, Global Client Director Shunmugam Global Creative Thought Director, Brand, Creative &
(Quant), South India Insights Division, Kantar Business, Indonesia Client Service, Canada Associate Account Director, Leadership Director Kantar Marketplace
South Africa, Insights

J. Walker Smith Lee Smith Nick Snowdon Duncan Tino Stolzenburg William Stubbings Nimai Swain Arfa Syed Ruth Symonds Doreen Szeto Stefan Tang
Knowledge Lead Senior Director, Product Senior Client Lead, Brand, Southgate Managing Director Brand, Director, Consulting Research Director, Quant Senior Vice President Director of Consulting, Vice President, Chief Client Officer,
Marketing for Brand UK, Kantar Media & Creative Germany Commercial Strategy MONITOR Product Greater China
Senior Director,
Global Creative

Resources

OUR BR AND E XPERTS

WHO CONTRIBUTED IDE AS, RESE ARCH, INSIGHTS, AND THOUGHT LE ADERSHIP TO THE REPORT

Barry Thomas Sarah Tout Karine Trinquetel Christian Vaccani Moshin Vali Ruben van Lesley van der Walt Stina Van Rooyen Maureen Van Wijk Kartikeya Varma Jirath Vipunpong
Senior Global Thought Client Manager, Brand, UK Global Head of Offer, Associate Director, Associate Director, Aardenne Client Service Director Director, Brand, South Africa, Director, Global Clients, Head of Media, APAC Head of Brand &
Leader Sustainable Transformation Innovation & Commerce, Commercial Growth, Business Development Insights Division Kantar Communication, Client
Practice Insight Division Insights Division Director Partner Director

Mark Visser Madalin Vladu Rebecca Wachter Orinna Wang Lexi Wendt Sarah Whiddett Stuart Wilkinson Jamie Williams Serene Wong Nelson Woo Chloe Woolger
Global Head of Consulting Senior Director, Brand & Client Director, Brand Partner, Retail Strategy & Senior Director, Client Senior Client Partner Senior Business Development Senior Director Innovation, Global Client Director Senior Director, Senior Commercial Director,
Sustainability Lead, Shopper Experience, Management/Brand Director Products & Solutions, Commercial, Asia Brand & CX
Kantar Insights Kantar Consulting, China Solutions Creative and Media
Global Product

Alex Wright Sam Wright Polly Wyn Jones Savvy Xie Han Ye Kyrylo Yezhov Jean Yoon Juliana Zamarra Susie Zeng Zhenzhen Zou
Director, Client Partnerships, Consumer Insight Director Global Knowledge Manager, Group Account Director, Lead Partner, Kantar China New Business Director at Senior Director, Client Innovation Account Lead, Partner, Kantar Consulting Account Director of
Insights UK Creative & Media Brand, Creative & Media Advisory Business Kantar Insights Ukraine Services, Korea, Kantar Kantar Insights Colombia Tech Sector
Practice, Insights, China

2024 MOST VALUABLE
GLOBAL BR ANDS

MEDIA
RE ACTIONS
Are you investing in the right
media channels?

Media Reactions provides a comprehensive view of the current

media landscape and shows you how to navigate it.

Campaigns are seven times more impactful among a receptive

audience, so it is essential to select the right media channels for
your audience and optimise your creative for each environment.

Media Reactions is an annual global study that explores the

dynamics of media channels and brands to help advertisers
optimise their media spend. It combines consumer and
marketer perceptions for a complete view of the current
media landscape and how to navigate it.

Media Reactions 2024 – launches on Thursday 5 September.

Find out which channels and platforms consumers and

marketers prefer to optimise your media strategy:
kantar.com/mediareactions

THE K ANTAR BR ANDZ GLO BAL TE AM

These individuals created the report,

providing research, valuations, analysis and
insight, editorial, photography, production,
design, marketing, and communications.

With special thanks and appreciation to: Nikhil Banga Halina Bromberg Mar tin Guerrieria

Richard Ballard, Mark Breen, Chuck Brinker, Mark Chamberlain, Nikhil is the Head of Valuations for Kantar Halina is the Marketing Director in Kantar Martin is the Head of Kantar BrandZ, leading
Andy Doyle, Gonzalo Fuentes, Ed Gemmell, Aayushi Jain, BrandZ. He leads the Brand Valuation practice BrandZ’s Insights Division. She is responsible strategy and direction. He oversees the analysis,
Chris Jansen, Cheong Tai Leung, Wayne Levings, Paul Martindale, globally, is responsible for the valuations-based for PR, events and digital marketing across thought leadership, and scope of all reports
Ted Prince, Kate Scott-Dawkins, Josh Smith, Lee Smith, rankings, and support brands to understand external campaigns. to ensure they deliver the best possible brand
Ashruti Singh, Michael Uzielli, Doreen Wang, Revolution Creative the levers of value creation. building insights for all Kantar clients. He is also
and We Are Family Kantar BrandZ’s lead media spokesperson.

This project would not have been possible

without the amazing suppor t of:

Aaliah Alizadeh, Natasha Alter, Jon Andoni, Sallie Barnes,

Caroline Bright, Deepak Chhabra, Priyanka Davra,
Chhavi Dhingra, Anne Earles, David Edden, Lesley Garrison,
Ana Ingles, Becky Ingram, Arran Merriman, Olga Moreno,
Andres Oliver, Thomas Prosser, Akshat Srivastava, Judit Stöckl,
and The DP and TaSc Teams in the Pune and Hyderabad GDC Hubs
Carol Horsley Rhys James Jenny Peters

Photography: Carol is the Global Head of Brand Strategy. Rhys is a Senior Client Director who leads Jenny is a manager in the global Kantar
She is an experienced marketeer, brand works with clients to help them achieve their BrandZ team. She is involved in the consumer
consultant, and insights practitioner with brand growth objectives, applying insight research component of Kantar BrandZ
Getty Images a passion for brands; especially how they to enable better business decision making. and is responsible for delivering insights in
connect with people and grow sustainably. He focuses on leveraging our qualitative publications and tools.
capabilities in order to drive success for some
of Kantar’s key global accounts.

Resources

THE K ANTAR BR ANDZ GLO BAL TE AM

Krupa Raikundalia Simran Rainu Lauren Rosenberg Rahul Sachdev Imogen Sapstead

Krupa is a Project / Marketing Executive for Simran Rainu is a Manager in the Valuations Lauren is the Senior Marketing Executive Rahul is a Senior Analyst in the Valuations Imogen is a Senior Client Executive in the
Kantar BrandZ. She assists in the production team for Kantar BrandZ. She looks after in Kantar BrandZ’s Insights Division. She is team at Kantar BrandZ. He is engaged in consumer research component of the Kantar
and marketing for all Kantar BrandZ reports. brand valuation projects in Kantar BrandZ responsible for digital channels and internal brand valuations and supporting project BrandZ global team. She is responsible for
for various markets. communications across campaigns. requirements in Kantar BrandZ for delivering insights across Kantar BrandZ
various markets. reports and publications.

Aditi Saxena Rakesh Sharma Graham Staplehurst Raam Tarat Hiten Thaker

Aditi is Valuations Director for Kantar Rakesh is a Valuations Manager for Kantar Graham is the Director for Kantar BrandZ Raam is the Global Projects Director for Hiten is a creative and design director with
BrandZ. She looks after the brand BrandZ. He looks after brand valuation thought leadership. He has over 30 years’ Kantar BrandZ. He led the production of over 25 years of advertising and publishing
valuation projects for various markets. projects for various markets. research experience in Kantar, specialising in the Kantar BrandZ Most Valuable Global experience. He works with globally recognised
brand and communications strategy. Brands 2024 report, as well as marketing brands and has designed Kantar BrandZ
communications for other projects. reports for the past four years.

Resources

THE K ANTAR BR ANDZ GLO BAL TE AM K ANTAR BR ANDZ

CO NTACT DETAIL S

The Brand Valuations in the Kantar BrandZ Most Valuable Global

Brands 2024 report are produced using the latest market data from
Kantar, along with S&P Capital IQ.

The consumer viewpoint is derived from the Kantar BrandZ database.

Established in 1998 and constantly updated, this database of brand
analytics and equity is the world’s largest, containing 4.3 million
Ellie Thorpe Ambica Tyagi consumer interviews, and 21,000 brands in over 54 markets.

For further information on Kantar BrandZ products and services,

Ellie is a director in the Kantar BrandZ Ambica is an assistant manager in the please contact:
global team, responsible for developing valuation team for Kantar BrandZ. She is
analysis and thought leadership to deliver engaged in brand valuations and supporting
compelling insights for Kantar BrandZ project requirements in Kantar BrandZ for
reports and publications. various markets. Mar tin Guerrieria Nikhil Banga
Head of Kantar Head of Valuations,
BrandZ Kantar BrandZ
+44 (0) 207 126 5073 +124 464 9463
[email protected] [email protected]

Parisha Vaja David Charles Walter

Parisha is the Junior Editor for Kantar D.C. Walter is a writer, journalist and editor
BrandZ. She is responsible for editing and based in New York, and oversaw the writing,
proofreading across all Kantar BrandZ insights, and editing of the Kantar BrandZ
reports and publications. Most Valuable Global Brands 2024 report.

You can also find out more on the offer at: www.kantar.com/brandz

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