India's Fast growing Brands
In the lockdown-induced India, the Top Risers unsurprisingly comprise of brands that make up essential services and have been relied upon most often in a socially distant environment.
Categories like Food and Retail dominate the Top Risers list. The others included:
Online Food Delivery - in absence of restaurants and hotels, food delivery was seen as the next best alternative. Telecom Providers - which grew thanks to the rise in online gaming and OTT viewership in absence of new TV content. Payment platform - these helped to push zero contact transactions. Job portals - due to the economic slowdown and loss of jobs across sectors.
The flip side of so much recent upheaval is that India, perhaps more than ever, represents an open playing field where any type of brand has the potential for growth. This fact is clear across this year’s Top 75 ranking: from 2019 to 2020, there was no correlation between a company’s size and its propensity to grow. Instead, success could - and did - come from brands of all sizes and types.
What, then, do the 2020 Top Risers have in common? For starters, strong brand equity: as a group, these brands average well above the rest of the BrandZ™ Top 75 in their results for Meaningful, Different, And Salient.
Among this year’s Top Riser, Maggi is a prime example of a brand that honed in on improving Meaningful Difference - not to mention Trust - following a safety recall in 2015. It now reaps the rewards of being a strong, valuable brand - a product that Indians have turned to for comfort and convenience in difficult times.
Reliance Retail, by contrast, is earlier than Maggi in its brand journey with Indian consumers - though having already amassed some 11,806 retail stores in over 7,000 towns, it hardly fits the profile of a scrappy upstart. Reliance Retail has distinguished itself during the COVID-19 lockdown by quickly expanding its e-commerce offerings in conjunction with sister company JioMart’s WhatsApp platform. That kind of agility in action should further boost Reliance Retail’s Meaningful Difference scores in the years to come - and in turn, lead to faster recovery and future brand growth.