A recent Kantar BrandZ report revealed the top 30 most valuable
Southeast Asian brands – covering Vietnam, Thailand, Indonesia,
Malaysia, the Philippines, and Singapore – with a combined brand value
of US$119.6 billion. Of the 30, two travel related companies have made
the list.
Marina Bay Sands has emerged as the 9th most valuable brand in Southeast Asia, with a brand value of US$4.43 billion, followed by Singapore Airlines in the 11th place with a US$2.85 billion brand value.
The top five spots are dominated by brands in the financial services
sector, with BCA Financial Services in the No. 1 spot with a brand value
of 11.76 billion.
F&B brands such as Indonesia’s Indomie (15th), the Philippines'
Red Horse Beer (28th), and Singapore’s Tiger beer (20th) were also
ranked in the top 30.
Out of the six countries in Southeast Asia, Singapore has the highest
number of valuable brands on the list, with a total of 10 brands.
According to Jane Ng, general manager of Kantar, this could be
attributed to the brands having a “a strong local identity, and telling
culturally relevant stories that demonstrate their role in consumers'
lives, coupled with an international outlook”.
The report also shed light on the brands' success and the strategies behind their achievements:
- Local focus, global opportunity: Unlike the
strongest brands in many other markets surveyed by Kantar BrandZ, the
leading Southeast Asian brands primarily conduct their business in their
home countries, with only 20% of their operations in international
markets. This presents a chance for them to venture into new territories
and enhance their value.
- High demand power: Southeast Asian brands establish
strong connections with local consumers, resulting in the highest
demand power among markets in the Kantar BrandZ ranking. Demand power
measures a brand's ability to drive consumers' inclination to buy, and
Southeast brands with the highest demand power have double the average
value, outperforming lower-performing brands on this measure.
- Driven by value: Southeast Asian brands excel at
proving the value of their prices by showcasing why they are worth it.
Despite budget limitations, consumers are willing to pay more for brands
that fulfil their needs and distinguish themselves from competitors.
Singapore Airlines exemplifies this with its commitment to excellence,
attention to detail, and exceptional customer service, allowing it to
command a premium.