By Rob Clapp
An overview of the ten quickest growing brands worldwide.
Tesla, TikTok and Pinduoduo are the quickest growing brands, according to data from Kantar BrandZ. The research combines financial information and consumer opinion to calculate a brand’s individual value.
Tesla has seen its brand value rise by 275 per cent to $42.6bn, moving from fourth to first in the most valuable car brand. Kantar puts this down to the brand’s clear vision combining environmental sustainability, innovative technology and cutting-edge design that is supported by strong brand loyalty.
TikTok is the second quickest growing brand, up 158 per cent to $43.5bn – this growth is one and a half times higher than any other media and entertainment brand, cementing the brand’s position as a leader in the category. Its focus on exploration and discovery has played a key role in differentiating TikTok from other social platforms.
Pinduoduo’s brand value grew by 131 per cent to reach $21.7bn following rising popularity and sales. The platform’s success points to the growing relevance of social commerce, something that competitors are trying to copy.
All three of these brands have found success in having a clear focus on the product and consumer experience. WARC’s latest white paper explores these trends and the balance between brand-building and performance marketing.
The research adds that the top ten quickest growing brands come from a diverse range of categories that covers cars, media and entertainment, retail, lifestyle, alcohol, apparel and fast food.
Alcohol brand Moutai and social platform Instagram also performed well, doubling their brand value to become the 11th and 18th most valuable respectively. Overall, Amazon and Apple’s focus on a seamless customer experience have helped the companies extended their leads as the most valuable brands.