Chinese brands becoming more popular
April 16, 2019 Category China News Round-up, Weekly
The brand power of Chinese brands tripled to 15% in 2018 from 5% in 2017, an indication of the robustness and competitiveness of Chinese companies, according to the “2019 BrandZ Top 50 Chinese Global Brand Builders” report jointly published by advertising company WPP, research firm Kantar Millward Brown, and Google. Chinese brands from sectors like mobile games noted increasing awareness in Japan, while fast fashion brands like Zaful saw traction in markets like France and Spain, representing significant growth opportunities for Chinese companies wanting to expand into these markets, said Doreen Wang, global head of BrandZ at Kantar.
Huawei was the top ranked Chinese firm in the Top 50 BrandZ Chinese Global Brand Builders, and was followed by Lenovo, Alibaba, Xiaomi and ByteDance, according to the report. Online fashion saw the maximum growth in terms of brand power. Consumer electronics and mobile gaming accounted for almost half the brand power of the Top 50 companies at 34% and 14%, followed by home appliances and e-commerce at 11% and 10%. According to Wang, Zaful, a one-stop online shop for fashion apparel, is a successful example of boosting brand awareness in countries like the United States, Canada, Australia and the United Kingdom, using creative advertising on platforms such as YouTube. According to Leo Wang, Founder and CEO of Zaful, the brand’s strategy is to be globally successful first and consider the domestic Chinese opportunities later, as “what works for the rest of the world is likely to be popular in China”.
According to David Roth, CEO of WPP Global Retail Business, Chinese brands must think beyond just the launch of their products to a more holistic brand building approach. Creating an emotional and differentiated understanding for their brands will be the real determinate of long-term success outside of China, he said, as reported by the China Daily.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world