Tata Consultancy Services (TCS) has retained its number one position in the 10th anniversary edition of Kantar BrandZ Top 75 Most Valuable Indian Brands Report for the second consecutive year, with a brand value of US$43 billion.

HDFC Bank, Infosys and Airtel also hold on to their top four positions, while State Bank of India rises one place to enter the Top 5.

India’s Top 75 brands have a combined brand value of $379 billion, a decline of 4% from 2022. This is a testament to the Indian brands’ resilience, stability and consistency, the report said. The decline has been mostly for brands in the Business Technology and Services Platforms category, which have a major presence in international markets, and therefore have been impacted by global pressures, recession threats and geopolitical instability.

The Automotive category produced the Top 75’s two fastest risers: TVS (No.51; $1.90bn) and Mahindra (No.47; $2.01bn) and achieved the second highest category growth at 19%. India’s automotive brands have quickly responded to changing consumer needs, notably the shift in preference from hatchbacks to SUVs, and the demand for electric vehicles.

The ranking’s 16 Financial Services brands contribute the biggest chunk of its total value. They grew 6%, thanks to the boom in digital banking, led by Axis Bank (No.17; +28%) and ICICI Bank (No.6; +18%).

Telecom providers also performed strongly, resulting in a 17% rise in total brand value.

There are four newcomers to the 2023 Indian brand ranking, plus two re-entrants – PhonePe, Cred, ShareChat and entertainment platform Star.

Deepender Rana, Executive Managing Director- South Asia, Insights Division, Kantar says: “It has been India’s decade. Our GDP has almost doubled with an 82% growth, while the world GDP has grown at 30%. This delta is even more when it comes to the most valuable Indian brands, which have almost quintupled in value (4.9 times), compared to the most valuable global brands, which have grown by 2.4 times. So Indian brands are significant value creators for our economy. We expect this trend to accelerate in the next decade as Indian brands don’t just thrive in India, but also explore growth overseas in their quest to become true multinational giants. Our IT services brands have already done that, with TCS and Infosys already featuring in the Top 100 Most Valuable Global Brand list. The strongest Indian brands have forged powerful connections by consistently adding value to people’s lives, and consumers see them as different to their rivals in ways that really matter. Brands must keep investing in building equity to create future demand, even as they capture existing demand which requires a better balance between short- and long-term strategy.”

Soumya Mohanty, Managing Director & Chief Client Officer- South Asia, Insights Division, Kantar, added: “There is great diversity within the India Top 75: they are a combination of established names and dynamic young brands, both global and local in footprint. What they have in common is their ability to be essentially Indian. Through a deep and detailed understanding of consumers in the market, and adopting the local culture and ethos, even huge international brands are seen and cherished as ‘homegrown’. The trust and loyalty this engenders has helped Indian brands to suffer less and recover more quickly from the storms that have buffeted them over the past 10 years.”

Other key highlights from the Kantar BrandZ Most Valuable Indian Brands report include:

• Sustainability credentials have a major influence on consumer decision-making – almost 9% of Indian brands’ Demand Power – a Kantar BrandZ measure of the ability to drive predisposition to buy – comes from perceptions around sustainability. However, only 8% of brands in India are seen as leaders in this area, compared to 11% globally, indicating an opportunity for those that can do more.

• Differentiation is key to commanding Pricing Power – the ability to justify price charged. Brands that have grown in both Demand Power and Pricing Power over the last year did so by being Meaningfully Different. There are different routes to being perceived as differentiated: a brand could be seen as distinct, to be a specialist, or to have purpose.

• The strength of the domestic economy has acted like a shield – Overseas contribution for the Top 30 Indian brands accounts for 31% of brand value, compared with 47% for Japan, 59% for the UK, and 85% for France. This has protected the ranking from the worst effects of international volatility.

The festive season is here and brands are going all out to be where the customer is. And this year, brands are going all out on digital spends. Various brands have also roped in influencers to spread the word on social media and other platforms. This year, consumers will be back to buying beauty products and branded clothes, experts from the industry suggest.

Higher ad spends on digital

Retailers and beauty brands are not holding back on spending to emerge as the top choice for consumers in their category. According to ratings agency ICRA’s latest findings, ad spending by retailers and fashion companies has not slowed down and is expected to continue growing for FY2024.

Influencer marketing and social media have come out as top choices for retailers this festive season.

According to Ullas Vijay, Head, Category & Communications, Bata India, “While the festive collection will be promoted through an integrated marketing approach using multiple touchpoints such as social media, TV and offline promotions, there will be a greater focus on digital spends as compared to traditional media as we want to be where our customer is. For our latest campaign, we took a departure from convention by introducing influencers as the face of the campaign - a shift away from traditional celebrity endorsements. This was strategic keeping the on-trend collection and the evolving demands of our audience.”

Sharing insights on the media mix, Tabby Bhatia, Director at Brune & Bareskin by Voganow, says, “There has been a strategic adjustment in our media mix this year. While we continue to invest in traditional media like magazines and print, we have significantly increased our digital advertising spend to adapt to changing consumer behaviour. The digital space allows us to precisely target our audience, and we are leveraging social media, search engine marketing, and online marketplaces to connect with our customers.”

Another skincare brand, O3+ has also allocated an additional 25% of their budget towards advertising this festive season. Vidur Kapur, Director of O3+ skincare, stated that the uptick in ad spending reflects their commitment to creating a strong brand presence and capturing the attention of consumers during this high-impact period. “In terms of our media mix, we've adopted a balanced approach. While offline media remains a cornerstone of our communication strategy, accounting for a substantial percentage of our efforts, we've also recognized the importance of the digital landscape. Approximately 35% of our media efforts are dedicated to online platforms, ensuring that we reach a diverse and tech-savvy consumer base. This mix allows us to effectively engage with our target audience across various touchpoints.”

With a new surge in demand for Korean beauty products, AmorePacific, a company with many notable Korean beauty products under its domain have increased their ad spend by 10-15% of their current budgets for the festive season. Mini Sood Banerjee Assistant Director & Head of Marketing and Training at AmorePacific Group says, “We feel there will be lot of demand from customers and we would like to reach out to them via ads. Continuous growth in digitization and positive consumer sentiments are all expected to drive growth this festive season. At AmorePacific, we all are very excited for this festive season since we have added new products to the portfolio.”

Barun Prabhakar, Marketing Head of Liberty Shoes, also explained that while traditional media like television and print are still relevant, they were allocating a substantial portion of their budget to digital channels, which encompassed online advertising, social media marketing, and influencer collaborations. “The uptick in our ad spending this festive season is substantial, reflecting our confidence in the market and the positive consumer sentiment. While specific figures are confidential, I can assure you that we have planned our advertising budget strategically to ensure maximum visibility and engagement during this festive period.”

Demand up

From Myntra's Big Fashion Festival to offline store sales, the beauty and fashion industry has significant opportunities this festive season. Bata launched the 'Make every walk a ramp walk' campaign with exciting products, Colorbar partnered with makeup artists and influencers for exclusive looks and tutorials and skincare companies plan to meet the high demand with new products and social media buzz.

Other than makeup products, the last few years have seen a revolution in demand for skincare products as well. Speaking on this upcoming trend in the retail sector, Samir K. Modi, Founder and Managing Director, Colorbar Cosmetics says. “As the festive season unfolds, Colorbar has witnessed a remarkable surge in consumer demand, a clear testament to the excitement and anticipation building among our customers. The response has been nothing short of exceptional, driven by a notable upswing in cosmetics purchases during this season. Notably, consumer preferences have undergone a significant transformation, particularly within the skincare and makeup domains. In recent times, we've observed a clear shift towards specific product categories, with a heightened focus on eye makeup, lip products, and nail colors. However, the transformation goes beyond color cosmetics, extending into the realm of skincare.”

Eshwar Surana, Managing Director of Raj Diamonds, mentioned that there were expectations of a remarkable 20% increase compared to the previous year's festivities. He attributed this to increased consumer spending, which aligned with the trend of 'revenge shopping.'

Coming to fashion, the trends continue to move towards sustainability and embracing tradition. “The response around the festive season starting Raksha Bandhan has been phenomenal. Customers are looking for more practical designs that can be carried at a family dinner or a get-together or even for any celebration at work as well, says Adarsh Sharma, CRO, FS Life.

HDFC brand was not built on communication and that's the first message that we all take for ourselves. This brand was built on redefining what banking is and delivering on that redefinition, said Ravi Santhanam, Chief Marketing Officer, HDFC Bank while speaking at the 10th anniversary edition of Kantar BrandZ India event.

In his keynote talk, Santhanam outlined how the Indian banking system had a problem in 1969 and how nationalisation was the solution. At that time, all Indian banks were nationalised, he shared. “Today, when the banking system has a problem, the solution is to privatise the banks and how did it change happen in India? It happened because of HDFC Bank,” he said.  

He highlighted that HDFC Bank is run by a group of professionals, not promoters. “We are 100% owned by the public and no promoters even today. And these groups of professionals came together and created something which we all as Indians can be proud of.” 

He added that this was always built on defining what is going to be banking and delivering on these expectations. “The products and services with technology are an enabler and setting really phenomenally great service standards. What it does in terms of an emotional benefit for the consumer. It created what is called trust. People can trust us with their money."

According to the 10th edition of Kantar BrandZ Top 75 Most Valuable Indian Brands Report, HDFC Bank ranked second. “We are very happy to be the seventh largest bank in the world and we want to be much more. Today, we have almost 8.25 crore customers and the group that has come together we have 10.5 crore customers that we serve day in and day out.” Santhanam further stated that communication has played a very small supporting role in this. 

He shared that HDFC Bank has phenomenal marketing analytics. He said, “We found the trust definition has changed. Earlier the definition of trust was 'I will trust you with my money.'" Today, it's about trusting banks with customers' first-party data, according to Santhanam. "So we need to have invested in marketing analytics. I have an 80-member data science team sitting inside marketing, looking at big data on the cloud, doing phenomenal analytics to understand each and every transaction and interaction the consumer does so that we can bring it all together to become more relevant for our customers and that further increases the trust.” 

He also shared that it's important to be a bit more consumer-friendly. “We have the power of almost all the top brands here. We work with them as a banker to them, so we have the ability to bring it all together. Instead of participating with them, we decided to create our own properties and hence we created festive treats.”

Speaking about how banks can differentiate themselves from others in the space where almost every bank looks very similar and does almost the same products and services. He shared that the way they can differentiate is going to be on the basis of their services. He said the digital way of doing things will allow them to enhance the services.

He also spoke about the major concern people are facing is fraud. “We found fraud to be the one which is actually hurting people. People lose money through sharing OTPs.” The brand launched a new campaign, 'Vigil Aunty', to encourage people across the country to practise safe banking habits.

“If you're not in the experience business, you're not in business, and this is especially true for banking as a sector and banking as a category. And it is on the pillars that we will continue to concentrate our efforts,” he concluded. 

The volume of consumer durable advertising on television increased 2.5 times in Jan-June’23 compared to the same period in 2022 and three times compared to Jan-June 21. 

According to the TAM Adex report on the consumer durable category for H1, print ad space climbed by 43% in Jan-Jun'22 and 38% in Jan-Jun'23 compared to Jan-Jun'21, while ad space declined by 3% in Jan-Jun'23 compared to Jan-Jun'22. On the other hand, the category ad volume on radio increased 2.2 times in Jan-Jun'23 compared to Jan-Jun'22. Meanwhile, ad impressions of the category on digital declined by 30% in Jan-Jun'23 compared to Jan-Jun'22. 

On TV, TTK Prestige India and Franke Faber India together accounted for 58% of the category’s advertising share. TTK Prestige India was the leading brand with a 39% share of category ad volumes in H1’23.  Hawkins Cookers, Kottaram Trading Company and Bajoria Appliances were the exclusive advertisers among the top ten of H1’23 over H1’22. The Prestige Range and Faber Kitchen Appliances together contributed 58% share of ad volumes on TV for the Consumer Durables category. 

Meanwhile, on TV the preferred genre for the category was GEC and Movies which collectively added 66% of ad volume share for the Consumer Durables/Home Appliances category during Jan-Jun’23.

TTK Prestige India not just on TV but also remained the lead advertiser on print medium. As well. The advertiser retained its first position with a 37% share of ad space in Jan-Jun’23 compared to Jan-Jun’22.  Sterne India and Philips Domestic Appliances India were the exclusive advertisers present in the top ten list during Jan-Jun’23 over Jan-Jun’22.  Among the top brands on the print medium, Prestige Range again topped the list with a 37% share of ad space in Jan-Jun’23.  NU Range of Products and Philips Home Appliances were the exclusive brands present in the top ten during Jan-Jun’23 compared to Jan-Jun’22. 

According to the report, Hindi was the most preferred language for the category when it come to advertising on print media with a 38% share of ad space. 

Unlike TV and print, Havells India leads the top ten advertisers list on Radio. The advertisers solely added a 75% share of category ad volumes in Jan-Jun’23.  Godrej & Boyce Manufacturing Company and Kottaram Trading Company were the exclusive advertisers present in the top 10 list during Jan-Jun’23 compared to Jan-Jun’22. Among the top ten brands, Lloyd Durable Range was leading in Jan-Jun’23 with a 41% share of category ad volumes on Radio.

Meanwhile, Samsung India Electronics was the advertiser on digital with a 46% share of category ad impressions in Jan-Jun’23.  The top two advertisers collectively added 58% share of ad impressions in Jan-Jun’23.  LG Electronics India, Xiaomi Technology India, Haier Appliances and Oplus Mobitech India were the new entrants in the top 10 advertisers in H1’23. 

Eveready Industries India Ltd (EIIL) has introduced their new range of Ultima Alkaline batteries through a campaign ‘KhelengeTohSikhenge’. The campaign has been unveiled alongside a TVC that showcases the Ultima and Ultima Pro range of premium alkaline batteries with increased power and longevity. 

Conceptualised by Ogilvy, the campaign shared a fresh perspective on play – highlighting its importance for children and moving the needle from play being just fun to learning through play with battery-powered toys. 

Anirban Banerjee, Sr. Vice President & SBU Head (Batteries & Flashlights) of Eveready Industries India Ltd. told e4m that as they revamp their Ultima series of batteries with a new look and feel as well as much smarter and enhanced capabilities, these batteries are much longer lasting and are primarily used for high-drain devices.

He also stated that these batteries are typically utilised in a wall clock or a remote and that this is the majority of the consumption that occurs.  Many of these households purchase high-drain gadgets such as blood pressure monitors, wireless mice, and smart remotes. They use a lot of battery consumption, so it's better to charge them with alkaline batteries. As a result, there is some segmentation in the market where standard products use regular batteries and some high-drain devices utilise these alkaline batteries and among these, toys are one of the battery guzzlers. 

"To ensure consumers that the best type of batteries for these products are the entire ultima range," he said. The emphasis is on the notion that in a generation where kids prefer to watch TV or online and have a lot of screen time, it is sometimes better for them to play with toys since playing establishes a lot of different kinds of learning and these learnings do not end when the child plays. Therefore for those toys, we recommend Ultima.” 

The TVC campaign depicts a mother's point of view as her young children play nonstop with battery-powered toys and engage in meaningful ways with others around them to learn vital values and life skills like friendship, sharing, and compassion on a daily basis. 

Banerjee claimed that the primary TG for Eveready Ultima batteries would be parents with children aged 2 to 12 years. "Kids in that age group consume a lot of toys, so that would be our core TG, but the extended TG would be for anyone who uses high-drain devices." 

The commercial also introduces Ultima, a new and upgraded alkaline battery line with 400% more power for longer-lasting toys and gadgets. This battery embodies Eveready's commitment to innovation and power, setting new industry benchmarks for excellence in both appearance and capability.  Banerjee added, “This launch signifies the fact that over the period of time we have treated batteries as low involvement products and thus from the next generation point of view we want to ensure that consumers are aware that in batteries there are segments.” 

The brand claims that the new range comprises the AA/AAA Eveready Ultima batteries, which present 400% longer-lasting, as well as the AA/AAA/D Eveready Ultima Pro, which boasts a remarkable 800% longer-lasting claim. 

These batteries aim at delivering a consistent performance across a spectrum of modern devices and high-drain applications which have become more common in recent years such as toys, video games, smart remotes, wireless keyboard/mouse setups, trimmers, and medical equipment. 

Banerjee stated that the campaign's marketing strategy and media mix will be headed by TV and digital, followed by other mediums. "Awareness will be the primary goal, so we are attempting to use TV and other facets of digital to maximise reach in addition to OOH and print, which will complement the media campaign. It will be a 360-degree blend." Banerjee informed that Eveready in the past few years has not been salient with the media. It was only in the last six to eight months that it came back into creating awareness and because of that larger portion of the company’s spend goes into TV, digital and print. On the advertising budget, he informed that by the end of this year, the company's ad budget would go up by 50-70% as compared to the previous year.  

Sukesh Nayak, CCO, Ogilvy India said, "Khelenge Toh Sikhenge" is an empowering platform that helps look at playing with toys in a new way. The games children play with their toys have a lot to teach them. Lessons on partnership, sharing, caring, teamwork, empathy and more can be learnt by continuous play. Eveready, India’s No. 1 battery with its new long-lasting Ultima batteries wants to own and build this empowering platform. And help enable every child in every household across India to learn something new and meaningful, every single day.”

Recently, Eveready also unveiled its new logo that marks a strategic brand transformation, forging a future-ready, self-aware brand committed to innovation, vibrancy, modernity, trust and empathy. 

Ashwin Dani, the co-founder of Asian Paints, has passed away. He was 79. The tycoon was also the non-executive director of the billion-dollar company founded by Dani's father Suryakant Dani.

Dani joined the company, which is counted among Asia's biggest paint companies, in 1968.

The billionaire businessman had a Master's in polymer science from the University of Akron, Ohio, United States, and a Diploma in colour science from Rensselaer Polytechnic, Troy, New York, United States.

He pioneered the technique of Computerised Colour matching in the Indian paint sector. He has been at the forefront of introducing many revolutionary products for the first time in India.

Dani also played a key role in setting up a joint venture between Asian Paints Limited and PPG Industries, Inc., US.

Asics, a Japanese sports performance brand, has announced roping in of Indian hockey sensation Manpreet Singh as its brand athlete.

“With a shared commitment of the brand's value, ASICS India is delighted to align with Manpreet Singh, a defender and the former captain of the Indian Men’s Hockey team,” stated a press release.

ASICS’ brand philosophy, "sound mind, sound body," emphasizes the need to maintain a perfect balance between mental and physical well-being. The brand envisions to not only supporting but also encouraging the young talent of the country to achieve new heights and set benchmarks. Following the brand's direction and ideation, ASICS India is onboarding Manpreet Singh as its newest brand athlete, considering his vision and dedication towards both sports and life aligns seamlessly with the brand philosophy, added the release.

Manpreet Singh Pawar, one of India's most celebrated hockey icons, has achieved remarkable success in his career. Under his leadership, India also won a bronze medal at the 2018 Asian Games, Silver medal at the Champions Trophy and Gold medal at the Asian Champions Trophy. He led the team to earn a Bronze medal at the Tokyo 2020 Olympics, ending India's 41-year wait for an Olympic medal in hockey. Singh has also been recognized for his individual achievements with the Arjuna Award and the FIH Player of the Year Award.

Rajat Khurana, Managing Director, ASICS India and South Asia,” We are delighted to announce ASICS India's association with Manpreet Singh as our newest brand athlete. We are glad to share that Manpreet stands as India's most revered Hockey icons and his inspirational journey shines as a guiding light for young athletes nationwide, perfectly embodying our brand philosophy of 'Sound Mind, Sound Body. Together, we look forward to inspiring individuals across the nation to embrace a holistic approach of well-being, where mental and physical health go hand in hand. We are confident that this association will help us inspire more people to achieve their fitness goals."

Talking about this collaboration Manpreet Singh commented, "As an athlete, my journey has been defined by unwavering commitment, teamwork and the pursuit of excellence. Joining hands with ASICS, a brand that shares my belief in the synergy of a ‘sound mind and a sound body’, is an exciting new chapter in my career. I am honored to be part of a brand that not only supports athletes but also encourages holistic well-being. Together, we aim to inspire and empower individuals to strive for their best, both on and off the field. I look forward to this incredible partnership and the journey ahead as we continue to champion the values of sportsmanship, resilience and balance."

As part of this association, Manpreet will wear ASICS apparel and footwear during his training and competitions. Last month ASICS India announced the onboarding of tennis star Sumit Nagal as well.