Hong Kong – Global financial services company HSBC and Hong Kong’s flag carrier airline Cathay Pacific leads the list of the strongest brands in the region, according to the latest ranking made by Design Bridge and Partners in partnership with Kantar.
They are then followed by rewards club Yuu, followed by the public transport network MTR, global fast-food chain McDonald’s, local bank Hang Seng Bank, insurance provider AIA, local telco SmarTone, lifestyle app foodpanda, and insurance provider Manulife.
Other notable brands that made into the list include skincare brand Shiseido, luxury watch brand Rolex, fast food chain Kentucky, hotel chains Shangri-La and The Prudential, amongst others.
The ranking revealed the theme of ‘value-seeking’. Hong Kongers love bargains and like to feel that they’re ‘gaming the system’; this explains why so many brands offer great value or help consumers seek out the best deals. According to the research, the luxury market is still going strong, however, and doesn’t show any signs of slowing, with luxury businesses that build desire into their marketing. The love of luxury and good deals aren’t in opposition though – for Hong Kong consumers, it’s all about value.
One key contrast the report also uncovered was that of local versus international. Despite being shut off during the COVID-19 pandemic, Hong Kong is still an international hub with globally connected brands – five of the top 10 are Hong Kong brands, with HSBC taking the top spot. This strong local identity and heritage coupled with an international outlook and reach is a melting pot for creativity and effective design – with Hong Kong’s strongest brands representing both these values.
Hannah Duley, managing director at Design Bridge and Partners Hong Kong said, “Tomorrow’s world is placing more challenges on brands and their business, with harder-to-please consumer expectations and harder-to-predict market trends. But businesses that invest in their brands, especially in the age of disruption and volatility, still outperform in the market. It has proved that great brand design often comes with great brand results, both tangible and intangible. With the power of design, brands can give unity to every diverse aspect to form a compelling brand and create distinct meanings.”
Meanwhile, Jason Spencer, managing director at Kantar BrandZ, commented, “Hong Kong has always been seen as a land full of contradictions. This inaugural report reinforces this juxtaposition clearly as we see how dramatically different brands appear side by side in the rankings. With this in mind, pinpointing the DNA of a HK brand we found was a difficult task and in the end, we realised that it was a futile one as there is no one way to define what a Hong Kong brand truly is – they have dual utility and leverage the best of both worlds no matter the context.”
