HDFC retains top spot for 6th consecutive year in BrandZ Top 75 Most Valuable Brands
LIC took the 2nd position, Tata Consultancy Services stood at No. 3, while Airtel and State Bank of India were in 4th and 5th position respectively
The sixth edition of the BrandZ report was unveiled by WPP and Kantar. The results of this year highlighted that there was a 6% rise in the overall brand value to $228.2 billion despite India’s recent economic disruptions. The main focus for the top-ranking brands has been building a brand that has a purpose, a brand that is innovative, has trust, pushes communication, monitors the brand's health and tells a story.
The key trends that were highlighted from the Top 75 brands study were: Mobile Internet access, Buying power and The Amazon Effect.
“Brand growth is becoming a challenge and there is a growing demand for transparency. All of the 75 brands are clients of WPP and Kantar so we must be doing something right”, shared Preeti Reddy, CEO- South Asia, Insights Division, Kantar prior to unveiling the report.
Vishikh Talwar, Chief Client Officer, Kantar Insights Division, shared, “The rise of ‘middle India’ combined with the rapid growth of the mobile Internet is providing unprecedented opportunities for brands. But, with an almost overwhelming choice of products and services to buy, consumers are increasingly discerning; the Indian psyche requires that brands cater to local needs with offerings that genuinely improve daily life. Today that’s as much about providing comfort and reliability as it is about generating new experiences.”
HDFC, for the sixth consecutive year, has remained in the No.1 spot. The brand has demonstrated a forward-thinking approach and keeps its focus on the changing needs of the consumer. HDFC has a total brand value of more than $22.7 billion, it has a 21% increase as compared to a year ago. According to BrandZ finance brands contribute the most brand value.
Sharing their views on retaining their No.1 position and what this means for the brand, Ravi Santhanam, CMO, HDFC Bank said, “We have won for the sixth consecutive time. While it sounds cliché, I think it is all about putting the consumer first and working on improving consumer experiences. It is all about putting the consumer first with every interaction they have with our brand.”
The other four top brands were: LIC at the 2nd position, Tata Consultancy Services at No.3 and Airtel and State Bank of India at Number 4th and 5th respectively.
Talking about securing the second spot and what that means for the brand, Muraleedharan P, Regional Manager, Marketing, LIC remarked, “The competition has been tough but the fact is that the customers trust us as indicated by this choice by BrandZ. After, having been surveyed by too many customers to still retain that mindshare is a great thing for us. We hope to retain that share of the consumer's mindshare in the years to come.”
Strong brands live in the hearts and minds of the consumer and generate superior shareholder returns. The reports of BrandZ helps agencies pitch better and provide brands with more strategic solutions.For more updates, be socially connected with us on
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