SEA brands among world’s most trusted, says report

Indonesia’s Bank Central Asia (BCA) is the most valuable brand in Southeast Asia and worth US$23.5bn, according to an inaugural Kantar report* that names 30 consumer-facing brands it judges to be the most valuable in the region.  

The Top 30 have a combined total brand value of US$119.6bn and cover Vietnam, Thailand, Indonesia, Malaysia, the Philippines and Singapore.

Why it matters

Brands matter, especially in turbulent times, and Southeast Asia’s most valuable brands are thriving because they are positioned as meaningfully different brands to consumers, which is key to growth as budgets tighten.

Key insights

• Financial services and telecom providers dominate the ranking, contribute two-thirds of all ranked brands and 79% of its value.
• BCA is one of 11 banks in the Top 30 and it dominates as a single, unified customer-facing brand that consumers find relevant.
• Nine telecom brands account for around one-fifth of the Top 30’s total value, followed by retail (8%) and travel services (6%).
• Indonesia has eight brands in the Top 30 and contributes the greatest share of brand value at 43%.
• Singapore is home to 10 brands, the highest number among the six markets, which contribute 35% of the total value.
• Malaysia has seven brands in the Top 30, responsible for 10% of total value, with telecom provider Maxis at the top (No 13).
• In contrast to other markets, leading SEA brands generate most business ‘at home’, with only 20% from international markets, highlighting an opportunity to expand into new territories to build value.
• SEA brands’ powerful connections with local consumers mean they have the highest demand power versus other markets.
• Demand power measures a brand’s ability to drive consumers’ predisposition to buy; SEA brands have twice the average value.

Quote

“Brands must keep on communicating, resisting the urge to cut spend and telling culturally relevant stories that demonstrate their role in being a part of consumers’ lives” – Adji Saputro, Head of Brand Guidance Solutions, APAC, Kantar.

*The Kantar BrandZ Top 30 Most Valuable Southeast Asian Brands’ 2023 ranking draws on opinions of 98,048 respondents, about 1,744 unique brands across 78 categories and six markets. The brands ranked needed to originate from Indonesia, Singapore, the Philippines, Thailand, Vietnam or Malaysia as well as additional qualifying financial criteria.