Chinese internet brands are trumping their Western counterparts in China, according to the second China Prophet Brand Relevance Index (BRI).
Alipay and WeChat came in first and second respectively for the second consecutive year, followed by Android, IKEA and Apple.
“Chinese consumers today live, work and play in a connected, digital world, so the brands that deliver useful, easily accessible and enjoyable experiences are going to be the most relevant to their lives,” Tom Doctoroff, Senior Partner at Prophet said in a press release.
“This is our second Brand Relevance Index in China, and Alipay and WeChat dominate once again as the top two brands because they brilliantly use technology to innovate and inspire consumers,” he added.
BRI is a ranking of the most relevant brands in consumers’ lives. Prophet partnered with research firm SSI to survey 50,000 consumers across the US, UK, Germany and China about 750 brands before deriving the results. The Chinese BRI results is part of this four-country effort, and is the second global survey conducted by the firm.
Five retail and hospitality brands finished the top 10 listing. They included Nike, Estee Lauder, BMW, Marriott and NetEase Cloud Music.
According to the Prophet, almost half of the top 50 brands were all technology-led. The rest were significantly invested in digital connectivity, showing that Chinese consumers like brand experiences that occur on demand, across devices and channels.
“Brands today cannot stay still. They need to earn and re-earn loyalty at every micro moment in the customer journey, again and again. They have to be relentlessly relevant. This is more true in China than anywhere else. The brands that scored high in our Index enjoy healthy long-term demand and a strong bottom line because they are constantly reinventing themselves to satisfy and delight consumers,” Doctoroff said.
The findings also showed that Chinese consumers are demanding for unique and immersive experiences. Here, brands like Marriott, W Hotel (ranked 11) and BMW dominated through their focus on experience and design.
Equally important are brands that Chinese consumers to show their individualism. They are increasingly looking to share their unique experiences on QQ (ranked 28), show a greater desire to try on Taobao (ranked 35), test on Meituan (ranked 40) and taste products on Dianping (ranked 41).
Meanwhile, Chinese consumers are focusing more on music, gaming, entertainment and sporting goods, which make up more than a fifth of the top 50 brands. According to the press release, there is “a growing shift towards prioritizing the balance between emotional and physical wellbeing, instead of focusing on just physical health.”
Chinese consumers are beginning to embrace the sharing economy. Mobike (ranked 14) and Airbnb (ranked 45) are now taking over spots held by restaurants and airlines. Ofo (ranked 54) and Didi (ranked 87) are just outside the top 50 ranks.
“It’s clear to be successful, brands need more than size and ubiquity. They must create a product that people love enough to integrate into their everyday lives. The brands that inspire this level of loyalty will ultimately grow the fastest because they are relevant in the moments that matter most to consumers,” Leon Zhang, Partner at Prophet, based in Shanghai, said.
Apple continued to dominate across global rankings, holding the top positions in the US, UK and Germany rankings. Google was among the top three in the same countries.