Tesla, TikTok and Pinduoduo are quickest rising manufacturers
Tesla, TikTok and Pinduoduo are the fastest growing brands according to Kantar BrandZ. The study combines financial information and consumer opinions to calculate the individual value of a brand.
Tesla has grown its brand value 275% to $ 42.6 billion, moving from fourth to first place as the most valuable car brand. Kantar attributes this to the clear vision of the brand, which combines ecological sustainability, innovative technology and the most modern design, which is supported by strong brand loyalty.
TikTok is the second fastest growing brand, up 158% to $ 43.5 billion – that growth is one and a half times greater than any other media and entertainment brand, cementing the brand’s position as the leader in this category. The focus on exploration and discovery has played a key role in differentiating TikTok from other social platforms.
Pinduoduo’s brand value grew 131% to $ 21.7 billion due to rising popularity and sales. The platform’s success points to the growing importance of social commerce, which the competition is trying to copy.
All three of these brands have succeeded in placing a clear focus on the product and consumer experience. RWB’s latest whitepaper explores these trends and the balance between branding and performance marketing.
The study adds that the top ten fastest growing brands come from a variety of categories that include automobiles, media and entertainment, retail, lifestyle, alcohol, clothing, and fast food.
The alcohol brand Moutai and the social platform Instagram also did well, doubling their brand value to 11th and 18th place respectively. Overall, Amazon and Apple’s focus on a seamless customer experience has helped companies grow their leads as most valuable brands.