Top Performers

ByteDance, Xiaomi, and SHEIN lead the list, showcasing the strength of Chinese brands in the entertainment, electronics, and fashion sectors.

Lenovo, Huawei, and AliExpress also remain strong contenders, emphasizing the diversity and innovation in China’s tech and e-commerce industries.

Sector Growth

Smart devices, automobiles, and e-commerce experienced the fastest brand power growth, with China’s industrial ecosystem and technological innovations providing a competitive edge.

Consumer electronics, entertainment apps, and online fashion account for a substantial portion of the brand power growth.

Brand Expansion

Chinese brands have successfully penetrated international markets, with notable growth in regions like Europe, North America, and Southeast Asia.

Brands like BYD and NIO in the automotive sector, and OPPO and Vivo in consumer electronics, have expanded their global footprints, contributing to the increasing brand power.

Market Trends

The report highlights a shift in consumer preferences towards brands that offer meaningful differentiation and high engagement. Brands that have successfully created unique and compelling brand experiences have seen significant growth.

There has been a notable increase in the brand power of mid-sized brands, indicating a shift from the dominance of top-tier brands to a more competitive landscape.

Notable Brand Highlights

• ByteDance: As a global leader in digital content and social media, ByteDance’s platforms like TikTok have become household names worldwide, driving significant brand recognition and engagement.
• Xiaomi: Known for its high-quality yet affordable electronics, Xiaomi continues to expand its product lines and market reach, solidifying its position as a leading global brand.
• SHEIN: The online fashion retailer has disrupted traditional retail with its fast-fashion model, capturing a significant global market share and expanding rapidly across multiple regions.
• BYD: In the automotive sector, BYD’s focus on electric vehicles has positioned it as a key player in the global shift towards sustainable transportation solutions.
• OPPO and Vivo: These smartphone giants have continued to innovate and expand their international presence, offering advanced technology and appealing to a broad consumer base.

Strategic Insights

The report suggests that the key to the success of Chinese global brands lies in their ability to offer meaningful differentiation and engage deeply with consumers. Brands that can innovate and adapt to changing consumer preferences will continue to thrive in the competitive global market.

• Consumer Engagement: Successful brands have invested in understanding and meeting the functional and emotional needs of their consumers, creating strong brand loyalty and advocacy.
• Technological Innovation: Continuous investment in technology and innovation has enabled Chinese brands to stay ahead of the curve, offering cutting-edge products that resonate with global consumers.
• Global Strategy: A tailored approach to international markets, considering local preferences and cultural nuances, has been crucial for the expansion and acceptance of Chinese brands abroad.

Top 50 Brands from Kantar BrandZ 2024 China Global Brands

1. ByteDance
2. Xiaomi
3. SHEIN
4. Lenovo
5. Huawei
6. AliExpress
7. Haier
8. TEMU
9. OPPO
10. Hisense
11. TCL
12. Tencent
13. vivo
14. Chery
15. BYD
16. Anker
17. DJI
18. MiHoYo
19. OnePlus
20. Kuaishou
21. realme
22. GWM
23. TP-LINK
24. HONOR
25. Lynk & Co
26. MAXUS
27. Insta360
28. WORX
29. Lilith
30. Century Games
31. JAC
32. Roborock
33. CHANGAN
34. Geely
35. Midea
36. DiDi
37. POCO
38. ECOVACS
39. Trip.com
40. Magic Tavern
41. Habby
42. Tsingtao Beer
43. EcoFlow
44. Infinix
45. IGG
46. Kunlun
47. eufy
48. 37Games
49. NetEase Games
50. LightInTheBox

BCG: The most innovative Chinese companies

The Top 10 Most Admired Companies

1. Apple
2. Amazon
3. Microsoft
4. Walt Disney
5. Starbucks
6. Berkshire Hathaway
7. Alphabet
8. JPMorgan Chase
9. Netflix
10. Costco Wholesale

Five Chinese companies made it to the list this year:

• Alibaba Group (61)
• Cathay Pacific Airways (102)
• Haier Smart Home (157)
• JD.com (177)
• Tencent Holdings (293)

Fortune picked 12 Chinese companies as the top 50 well positioned for growth

Lenovo was ranked the most powerful Chinese export brand by WPP and Kantar Millward Brown, followed by Huawei, Alibaba, Elex and Xiaomi.

Update: Check out the latest ranking of top China brands here.

The “BrandZ™ Top 30 Chinese Global Brand Builders” 2017 ranking lists the Chinese brands that have most successfully established a presence in overseas markets.

1. Lenovo
2. Huawei (among world’s top growing brand in 2016)
3. Alibaba (also ranked the world’s 2nd most valuable retail brand)
4. Elex
5. Xiaomi (Apple and Xiaomi are found most relevant to the lives of China’s Gen-Y and Gen-Z consumers )
6. Air China
7. Haier
8. Anker
9. Cheetah Mobile
10. Hisense
11. GO Launcher
12. OnePlus
13. dji
14. China Eastern
15. ZTE
16. FunPlus
17. Qihoo 360
18. TCL
19. Tap4Fun
20. I Got Games
21. Youzu
22. Ourpalm
23. GearBest
24. China Southern Airlines
25. LightInTheBox
26. Oppo
27. Vivo
28. Ninebot
29. Tencent
30. Great Wall

The awareness gap between Chinese brands and other brands is narrower in France, Germany, Australia, and Spain.

Related: China is a relatively “brand content friendly” market

Also read: Top Chinese Brands

Interbrand, a brand consultancy company, released its 2014 Best China Brands report last week. Tencent claims the #1 position with China Mobile dropping to #2.

Eight brands entered the report this year, including Alibaba Group (#3), Huawei (#13), PICC (#20), Chow Tai Fook (#22), JD.Com (#25), 360 (#41), DEEJ (#48), Lao Feng Xiang (#50). In light of digital and mobile technology transforming the global marketplace, there appears to be increasing similarities between this year’s top Chinese brands and those brands recognized on the world stage.

“Brands across geographies have reached a pivotal point in terms of their development,” said Jez Frampton, Interbrand’s Global Chief Executive Officer. “They are entering what Interbrand has defined as the Age of You—and they are working to develop truly personalized and curated experiences around the individual consumer that this forthcoming age demands. Brands from all categories and sectors are getting “smarter” – with products and devices working in concert with one another, across supply chains and in tandem with our own individual data sets.”

The brand valuation methodology used for Best China Brands is the same methodology Interbrand uses to determine its annual Best Global Brands ranking. Interbrand examines three key aspects that contribute to a brand’s value:

• The financial performance of the branded product and service
• The role the brand plays in influencing customer choice
• The strength the brand has to command a premium price or secure earnings for the company.

The 2014 Best China Brands illustrate that those brands that have embedded technology and mobile applications throughout their core offerings have performed the strongest. Meanwhile, brands from more traditional industries demonstrated great potential as well. Overall, the total brand value of this year’s 50 Best China Brands increased 22 percent when compared to the total value of the 50 Best China Brands in 2013, representing the largest increase in the table’s overall brand value since the inception of Best China Brands. The strong performance of China’s Internet brands marks the end of an era for the financial services and telecommunication brands that had previously dominated the Best China Brands ranking.

With eight new brands making an appearance, the Best China Brands ranking has become more diversified and, consequently, Interbrand has been able to identify the following emerging trends:

The new ecosystem is cultivating the growth of super brands.

The total brand value of Internet brands has increased from 11 percent to 24 percent compared to last year, making the industry the second most valuable after the financial services industry. TAB (Tencent, Alibaba and Baidu), in particular, are either cooperating with or surpassing traditional industries in changing how consumers live, work, learn, and connect with each other and the world at large. Since the second half of 2012, TAB has acquired and invested in a wide-range of companies, including those representing the following sectors and industries: financial services, entertainment, education, and healthcare. As a result, these leading brands are creating entirely new brand ecosystems aimed at improving customer convenience and overall quality of life for all.

Mobile Internet, the Internet of Things, and Big Data have equipped brands with the power to change the word.

Mobile Internet, the Internet of Things, and Big Data not only provide opportunities for revolutionizing and changing traditional industries and Internet brands, but have also created greater synergy as a result of cross-platform collaborations—propelling the transformation and progress of society on a larger scale. Huawei, Lenovo, Haier, Gree and Midea particularly stand out, as they continue to actively explore and develop the concept of “smart city” and “smart home.”

Banking and Telecom industries call for transformation—a test of foresight and innovative capability.

The growth rate of the banking industry (12 brands earned positions on this year’s Best China Brands ranking) continues to slow down with the top four banks garnering less than 5 percent growth in brand value. Both state-owned and private commercial banks face greater challenges and more competitive pressure than ever before and are urgently in need of a “second transformation.” Those banking brands that possess foresight and innovative capabilities have undergone transformation either on their own or by collaborating with another brand—and have maintained their double-digit growth as a result. The business of voice calls and text messages for the Chinese telecom industry continues to decline under the proliferation of Mobile Internet. Facing numerous difficulties, Chinese telecom brands have implemented a series of actions to accelerate transformation. Only time will tell if such actions are too little too late or have the desired impact.

In addition to the trends outlined above, the significant movement amongst the 2014 Best China Brands also reflects four key challenges that Chinese enterprises face in the age of mobile Internet:

Revisit the concept of the age of Mobile Internet

Many Chinese enterprises lack a deep understanding of brand strategy and digital strategy. Their knowledge of ‘digital’ is limited to brand communication channels (online ads, official Wechat and Weibo) and e-commerce channels. Chinese enterprises need to adjust their mindset in both strategies to executional levels in the Age of Mobile Internet.

Emphasize a brand’s authenticity and differentiation.

Building a brand requires the coordination of all departments. A marketing department could be responsible for brand communication, but if no other departments, including sales and operations for example, do not support the corresponding brand experience, it would result in an inconsistent brand experience for the users, thereby reducing the brand’s level of authenticity, Differentiation is the perceived difference and uniqueness of the brand vis-à-vis the competitors. Without clear brand differentiation, brands can only compete on price. A brand’s core competency has shifted from technological capability to the ability to influence customers and consumers. If a brand were to build on its authenticity and differentiate itself from out inside out, it holds greater potential to bring greater value to its brand.

Clarify the direction of brand development.

Compared to great international brands, Chinese brands have a tendency to lack a clear brand vision. A clear brand vision can give a brand depth and bring it to life, garnering recognition and loyalty from the public. In contrast, those organizations lacking clear brand vision can only compete on price and thereby must work all the harder to remain relevant in today’s rapidly-changing Chinese and global marketplaces.

“Imaginative” becomes a key challenge for Chinese brands.

Today, Chinese enterprises need to think about how to create new brand experiences with their consumers instead of simply answering consumers’ current needs. Therefore, Chinese organizations need to inject a tremendous amount of imagination into their brands and into the experiences they build around those brands.

“The reason why Chinese brands face so many challenges and are operationally big, while fundamentally weak, lies in the gap of authenticity, relevance and differentiation compared to world’s most influential and powerful global brands,” said James Wang, General Manager of Interbrand Beijing. “Many Chinese enterprises are still in the early stages of brand development, or what Interbrand calls the Age of Identity. However, with every great challenge there lies a great opportunity.”

Yao Chen Gang, General Manager of Interbrand Shanghai also noted, “The Age of Mobile Internet brings great opportunity for Chinese brands to outpace competitors. The annual shipments of Chinese 4G smartphones can surpass a hundred million. Based on the economic value brought by Mobile Internet, the scale of China will likely be 3 to 4 times of the United States in the future. In this age, brand owners should clarify the brand’s vision, infuse creativity and imagination, create a well-rounded brand experience and co-create value together with consumers. With Huawei becoming the first Chinese brand to enter the Best Global Brands ranking, we look forward to seeing many more Chinese brands earn a top position in the near future.

Click here to read the report in Chinese (PDF).

Stats of Top Selling Brands on Taobao/Tmall in 18 Categories in Sep 2014

From Traditional Retail Business Model to Ecommerce

Unlike traditional retail business model, a well-executed e-commerce platform gives Xiao Gou Company a more cost-effective way to reach to a wider range of Chinese consumers. Staying solely on online retail platform helps Xiao Gou company to channel synergies to attract consumers from all parts of China, unlimited to the geographical limitation of offline stores, helping them win and retain the most valued customers – and to do it profitably.

Xiao Gou Company estimated that the sales closed by a sale staff in a departmental store is near to the number of deals Xiao Gou Company closes in a day on one single e-commerce platform. In addition, online sites serve as effective marketing tools, as shoppers increasingly rely on web searches and reviews. These sites provide an effective way for filling gaps in a company’s physical store network, including untapped markets with little competition or product offerings that might not be available in physical stores.

Quality Control

Xiao Gou Company believes that stellar product quality is the key to retaining customers. Xiao Gou Company’s purchase team stations at Suzhou, where its suppliers are located, to frequently conduct inspections on productions, so to ensure quality control from raw materials to final products.

Xiao Gou Company promises a “7 days return/exchange” service to all customers. Even with such flexible return/exchange service, and a monthly sales of 20 000 vacuum cleaners monthly, Xiao Gou Company manages to keep its refund rate at a low 0.9% due to its outstanding products quality.

Post Purchase Customer Service

Apart from producing quality products, another aspect Xiao Gou Company holds dearly is providing excellent customer service. Xiao Gou Company sees this as a crucial value-adding component, where only constant upgrading and improving of customer service can help to establish customer-brand loyalty. This has allowed Xiao Gou to champion all major ecommerce platforms as the No 1 vacuum cleaner for five consecutive years.

Competitors

Domestic brands such as Midea, Haier and Deerma as well as international brands such as Philips, Panasonic and Electrolux are Xiao Gou’s main rivals. Domestic brands especially have less product differentiation, from product specifications to price and to design.

Consumers

Target customers of Xiao Gou are mainly customers between the ages of 25 to 40 and the bulk of Xiao Gou sales tend to be for household purchases.

Marketing Efforts

Xiao Gou’s current marketing efforts are solely based online. It takes forms of promotional advertisements on latest Xiao Gou products. Xiao Gou’s brand manager revealed that there is no deliberate intention of focusing their marketing efforts online.

As Xiao Gou is only operating through online ecommerce platforms, it naturally directed its marketing efforts on the web. Xiao Gou’s brand manager also mentioned that they haven’t found a right timing or campaign idea to launch an offline campaign. Execution of an offline campaign is possible and will need to contain a strong message and have an effective delivery.

This post is an excerpt from BizAsia, a student society of Guanghua School of Management, Peking University.

According to EnfoDesk, by the end of June 2013, the top 9 e-commerce platforms home appliance spare parts price index is shown above.

And top 9 e-commerce platforms home appliance spare parts sales performance(market share by revenue and market share by volume) in June are above. The top three e-commerce platforms were Jingdong, Tmall and Suning.

In June 2013, the average market credit score was 4.71, dangdang ranked top among the top 9 platforms with score 5.00. 51buy was the lowest, with only 4.46. Tmall had the highest sales volume, with 1718. While 51buy was still the lowest, with only 1 home appliance spare parts sold out in June.

The average monthly market discount rate was 91.5% in June. Dangdang had the biggest discount rate among the top 9 platforms, with 86.5% discount rate. Followed by Jingdong, with 88% discount rate.

Top 3 brands by market share by revenue in the top 9 platforms in June were Loctek, Haier and NB. And top 3 brands by market share by volume in the top 9 platforms were Loctek, Ugreen and CE-Link.

The average credit score was 4.71 in June, NB had the highest score with 4.86, and JIAPEI’s score was relative low, with only 4.54.

Maurice Lacroix had the highest price, with 618.86 yuan(USD 100.36). Seebest’s price was the lowest, with only 26.08 yuan(USD 4.23).

The average market discount rate in June was 91.5%, Loctek had the biggest discount with 86.6%, followed by JIAPEI with 87%.