The latest report from Millward Brown and WPP: Brand Z Top 100 Most Valuable Chinese Brands show us how Chinese brands are becoming more powerful around the world. This is largely due to Millennials who have shorter memories than older age groups; these younger consumers have only ever seen China as a growing economic superpower during their adult lifetimes.
As Chinese brands continue to broaden their audiences and break new ground in technology and innovation, what we’re seeing here could really just be the beginning of a century dominated by China’s continued growth and prosperity, and the world’s growing awareness and begrudging respect for a country that is turning “Made in China” into a label representing innovation and quality, a far cry from what the term represented in the 2000s.
Due to China’s tremendous growth in the digital and mobile industries, more and more people have begun to perceive Chinese brands as being innovative.
Positive perception of Chinese brands tends to come from younger consumers. This is likely due to younger consumers growing up during a time of unprecedented growth in China’s economy and position on the world stage.
China’s recent economic growth and increasingly leading position on the world stage has changed the perception of younger consumers of Chinese brands.
Chinese brands are most popular in France, Germany, and England. The perception of Chinese brands is generally based on how recent the recipient’s knowledge of China is. The more recent, the higher the score. “Old Knowledge” such as China’s past scandals, or its past reputation for poor quality products lead to a more negative impression of Chinese brands.
Digital media is the most important brand-building channel for Chinese brands. This is likely due to the penetration and ubiquity of mobile smartphones in China, allowing the shortest path to connecting with China’s modern consumers.