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HDFC Bank retained the numero uno spot for the sixth consecutive year in the sixth edition of BrandZ Top 75 Most Valuable Indian Brands ranking, released by WPP and Kantar. The bank managed to do this by “maintaining a forward-thinking and innovative outlook, with its consistent focus on exceeding the changing needs of its customers.”
With a 2019 brand value pegged at $22.70 billion, HDFC’s brand value has only changed 5 per cent, with Vishikh Talwar, Chief Client Officer, Kantar Insights Division saying if the brand “continues to do what it has been doing, staying ahead of competition, answering all queries, connecting with consumers and delivering, it will manage to stay ahead.”
This, he noted, is a positive contrast to the 8 per cent decline in value of the top 20 global banks.
LIC took the second spot in the BrandZ listing with 2019 brand value pegged at $20.13 billion, while Tata Consultancy Services took the third spot with 2019 brand value at $18.16 billion, registering 21 percent change in brand value as compared to last year.
Airtel in the fourth spot at $10.28 billion had a downward value change of 10 percent, while State Bank of India with a brand value of $8.4 billion was in the fifth position.
The fastest riser in the 2019 ranking was Jio, which climbed one place to No 9 with a 34 percent increase in brand value to $5.47 billion. Vodafone at $2.5 billion, was the top-ranked newcomer at No 24 in the list.
India’s most valuable brands, many of which have built their businesses through disruption, are looking to capitalise on their achievements. Speakers at the seminar ennumerated the many decisions that companies are taking to achieve their growth target.
The BrandZ study, which is the only brand valuation ranking to combine companies’ financial data with consumer insight and opinion, shows that trust is key and that highly trusted brands in the Top 75 are worth 129 percent more than less trusted ones.
Speaking about consumer trust, a common thread among successful brands, Preeti Reddy, CEO South Asia, Insights Division, Kantar said only a few have succeeded in growing trust over the last five years. “Those who done so, have done it through open and honest conversations with their customers. Trust is the shield that gives a brand the resilience to face headwinds in uncertain times,” she added.
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