JOHANNESBURG, October 31, 2018
JOHANNESBURG, October 31, 2018 /PRNewswire/ --
- Range included in the first BrandZ™ Top 30 Most Valuable South African Brands ranking reflects the diversity of consumers' daily interactions with brands
- While local remains "lekker", brands need to think creatively and innovatively to tap into the wider global market
Standard Bank, with a brand value of $4.79 billion, is South Africa's No.1 brand in the first BrandZ™ Top 30 Most Valuable South African Brands ranking. The report, released today by WPP and Kantar Millward Brown, reveals that the Top 30 South African brands show more potential for global growth than their counterparts in the Chinese and European rankings, but have less exposure to overseas markets.
With a combined value of $42.6 billion, the BrandZ Top 30 Most Valuable South African Brands ranking is notable for its diversity, covering several industry categories including banks, telecom providers, retail, insurance, fast food, beer, hospitals, oil & gas, entertainment and airlines. The ranking reflects the brand touch-points of consumers' daily lives in South Africa.
The region is fast becoming a rewarding place to do business and the ranking flags the potential for brands to grow locally and globally. However, brands will need to work hard to stand out from competitors in a digital landscape in which offerings are increasingly homogenised. The report highlights that the future winners will be those who are able to differentiate themselves in a meaningful way which will enable them to deliver superior shareholder value.
The BrandZ™ Top 15 Most Valuable South African Brands 2018
Brand value (US$ Rank 2018 Brand Category million) 1 Standard Bank Banks $4,788 2 First National Bank Banks $3,675 3 Vodacom Telecom Providers $3,258 4 Castle Beer $3,172 5 MTN Telecom Providers $2,913 6 Nando's Fast Food $2,160 7 Absa Banks $2,019 8 Nedbank Banks $1,882 9 Discovery Insurance $1,708 10 Old Mutual Insurance $1,692 11 Woolworths Retail $1,434 12 Sasol Oil & Gas $1,213 13 Investec Banks $1,161 14 Shoprite Retail $1,122 15 Hansa Pilsener Beer $1,121
David Roth, WPP commented: "As South Africa looks towards future growth, local brands have a critical role to play in both the country's development locally and how the country is viewed on the global stage. Its strengths and diversity are reflected in the ranking as leading brands across a range of categories demonstrate their ability to innovate and make a difference to consumers' lives."
South Africa's most valuable brands do well on delivering functional communication strategies, based on utility and price, however less successful are attempts at engaging with consumers on an emotional level. As brands look to increase their value and the ROI on their marketing efforts, tapping into this emotional connection with their customers will help them compete with global brands who are more experienced. South African brands therefore need to build in an emotional differentiator, as functionality alone is not necessarily sustainable for long-term growth.
Charles Foster, CEO Insights Division Kantar, Africa and Middle East said: "South African brands show great potential for growth in a region undergoing change. BrandZ demonstrates how brands with strong equity are protected and recover more quickly during tough economic periods, while growing faster during the good times. Those that focus on innovation and building emotional connections with consumers will grow faster."
Other trends highlighted in the BrandZ™ Top 30 Most Valuable South African Brands report include:
The BrandZ™ Top 30 Most Valuable South African Brands report and ranking, as well as other brand insights for key regions of the world and 17 market sectors, are available online here. The reports, rankings, charts, articles and more can also be accessed through the BrandZ app, which is free to download for Apple IOS and all Android devices from www.brandz.com/mobile or by searching for BrandZ in the iTunes or Google Play app stores.
Background and methodology
Commissioned by WPP, the valuation behind the BrandZ™ Top 30 Most Valuable South African Brands was conducted by brand equity research experts Kantar Millward Brown. The methodology mirrors that used to calculate the annual BrandZ™ Top 100 Most Valuable Global Brands ranking, which is now in its 13th year.
The ranking combines rigorously analysed financial data from Bloomberg and Kantar Worldpanel with the opinions of over 17,300 South African consumers gathered for over 506 brands in more than 35 categories. The BrandZ™ Top 30 Most Valuable South African Brands is the most definitive and robust ranking of the country's brands available, and the brands ranked must meet at least one of these two eligibility criteria:
The suite of BrandZ™ country rankings and reports also includes China, India, Latin America, Brazil, Saudi Arabia, Spain, the UK, France, Germany, Australia, the U.S. and Italy.
About Kantar Millward Brown
Kantar Millward Brown is a leading global research agency specialising in advertising effectiveness, strategic communication, media and digital, and brand equity research. The company helps clients grow great brands through comprehensive research-based qualitative and quantitative solutions. Kantar Millward Brown operates in more than 60 countries and is part of WPP's Kantar group, one of the world's leading data, insight and consultancy companies. Learn more at www.millwardbrown.com.
WPP is the world leader in communications services. The company provides a comprehensive range of services including digital, ecommerce and shopper marketing; advertising & media investment management; data investment management; public relations & public affairs; brand consulting; health & wellness communications; and specialist communications. For more information, visit www.wpp.com
For more information please contact:
Stina Van Rooyen
South Africa BrandZ Lead
Head of Marketing Communications
Africa & Middle East