The gap between home-grown and multinational brands in China is narrowing as its enterprises improve marketing strategies and local consumers become more mature, the latest BrandZ study by research agency Millward Brown finds.
The annual study on Tuesday released the list of the 100 most valuable Chinese brands for this year, with Tencent Holdings, Alibaba Group Holding and China Mobile topping the list.
The total value of the top 100 Chinese brands surged nearly 60 per cent from 2011 to US$464 billion, outpacing the growth of 41 per cent for the 100 most valuable global brands, the study said.
In recent years, she said, Chinese firms had improved in developing and executing marketing strategies. They are also increasingly using big data to understand local consumers and getting good at integrating marketing and sales functions.
"On the consumer side, they now see less difference between local brands and multinational ones. They tend to choose brands based on the value they offer rather than their provenance," Wang said.