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Business EconomyPosted at: Sep 18 2020 9:01PM


Innovation fuels growth for retail and telecom sectors in BrandZ™

Mumbai, Sept 18 (UNI) Retail and telecom brands have outperformed most other categories and seen their brand value increase in the 2020 BrandZ™ Top 75 Most Valuable Indian Brands ranking, released today by WPP and Kantar.
This year’s ranking was worth $216 billion in brand value, a decline of 6% over last year, driven largely by a slowdown in the brand value of companies in the banking and automotive sectors.
Despite the overall decline in brand value of the Top 75, 26 brands increased in value and five were new entrants. India’s top brands also performed well against other countries where declines in total brand value were much greater.
The retail sector in particular has adjusted to the needs of shoppers restricted by lockdown measures. Reliance Retail (+102%, no. 25, $2.3 billion) was the fastest riser this year, up 30 places, with telecom brand Jio (no. 7, $6.9 billion) contributing to the overall success of the parent company.
The largest retailer in India, Reliance Retail has invested in its digital commerce capabilities, comprising JioMart’s online B2C business and the kirana digitisation programme, with plans to digitise five million kirana stores by 2023.
Online retail brands, Flipkart (no. 8, +40%, $6.5 billion) and D-Mart (no. 16, +38%, $3.3 billion) also saw their brand value increase significantly, while instant food brand Maggi (no. 23, $2.5 billion) had one of the highest brand value growth figures (46%) this year.
Airtel (no.4, +36%, $13.9 billion) was the top telecom brand, while Jio saw its value increase 26%. One of five new entrants, BSNL (no. 75, $583 million) also benefitted from the overall uplift in the telecom category, which contributed $25.5 billion to the ranking this year.
HDFC Bank was India’s top brand worth $20.3 billion, claiming the no.1 spot for the seventh consecutive year, and contributing to banking being the leading category in this year’s ranking worth a total of $42.1 billion in brand value.
Consistent in its financial performance and customer experience, the bank was also ranked no. 59 in the 2020 BrandZTM Top 100 Most Valuable Global Brands report.
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Tags: #Innovation fuels growth for retail and telecom sectors in BrandZ™
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