Top 10 Chinese brands
To 1.4 billion Chinese consumers, shopping can often seem like an Olympic sport. With credit cards and cash in hand, this new generation of shopaholics is taking to the streets [and the internet] for an all out 'shop till you drop' marathon. This tidal wave of consumer spending is the new normal for China's emerging wealthy class.
On October 3rd, BCG (Boston Consulting Group) released a report showing continued high predictions for future Chinese consumer spending. In fact, the BCG report is predicting Chinese and Indian consumer spending to triple by 2020 – welcome news for manufacturing companies.
Although currently many of the most popular brands in China are foreign brands [take Apple's iPhone for instance], we have reached a tipping point for many major homegrown brands. After all, who is better positioned to cater to the needs of 1.4 billion Chinese consumers than Chinese companies?
Here are the top 10 Chinese brands that are best positioned to excel within the next 8 years, both domestically and at home:
Sinopec (中国石化)
Sinopec (file photo)
Offering a fully integrated approach to the capital intensive oil industry, Sinopec's collection of fill stations, refineries, and associated production are currently valued at $ 13.8 billion. With an emphasis on sustainability and responsible business practices, Sinopec minimizes its image as a state-owned entity by demonstrating value in safety, price competitiveness, and international expansion.
Tsingtao Brewery (青岛啤酒)
Tsingtao Brewery [nipic.com]
Although the average Chinese citizen drinks one-third the beer a German drinks, the sheer size of the Chinese population makes China the largest beer market in the world. Tsingtao was founded in 1903 by Anglo-German settlers with a strict recipe to brew with water from Laoshan Spring. Tsingtao's volume and profits grew 13% and 14% respectively last year, and despite rising grain prices a liter of Tsingtao will only set you back around $ 0.80.
Tencent (腾讯)
Ma Huateng and Tencent (file photo)
Tencent QQ is a highly popular social network and micro-blog service in China which functions as the Chinese answer to Twitter. As of September 30, 2011 the Shenzhen-based company had over 711.7 million active QQ user accounts and membership has grown exponentially since. Although QQ offers a free membership service, QQ charges a nominal fee for premium memberships which allow users access to different services and has even created its own currency: the Q Coin.
Mengniu (蒙牛)
Mengniu [nipic.com]
Mengniu is an Inner-Mongolia based dairy manufacturer which specializes in milk, powered milk, yogurt, ice cream and cheese. Mengniu owes its success (in part) to a fantastic ad campaign from the late 1990s which links Mengniu products to the strength of the Chinese people.
Even though Mengniu's reputation suffered in 2008 when it was forced to recall powered milk products, it reported a 66% year-over-year gain.
Lenovo (联想)
Lenovo [nipic.com]
Lenovo is the proud producer of one in three Chinese PCs, and has an annual revenue of $ 30 billion USD. After purchasing IBM in 2005 and acquiring the ThinkPad, Lenovo became the world's largest personal computer producer. It's brand-familiarity will propel Lenovo further as it continues to expand into more rural areas.
Industrial and Commercial Bank of China (中国工商银行)
Industrial and Commercial Bank of China (file photo)
Beijing-based Industrial and Commercial Bank of China (ICBC) is currently the world's largest bank (in terms of market capitalization and customer deposits). Previously a state-owned enterprise, ICBC is doing well trading simultaneously on the Hong Kong and Shanghai exchanges. In fact, when ICBC launched it's IPO in October 2006, it broke records as the worlds largest IPO at the time.
While other major global banks are reporting losses or moderate gains, ICBC is still holding strong and reported an amazing 15% gain last year – this is amazing when compared to Bank of China's 17% year-on-year loss.
Great Wall Motor (长城汽车)
Great Wall Motor [123savoie.com]
This growing motor company has a reputation at home for creating good-value automobiles and is the country's leading producer of sport-utility vehicles and trucks. Although in China car ownership is still low by global standards (one car for every 17 people), Great Wall Motor Corp. is growing domestically and internationally, exporting more and more vehicles to Southeast Asia and the Middle East; so much so that it announced plans to build plants in North Africa, Southeast Asia, and North America by 2015.
China Mobile (中国移动)
China Mobile [CNMO.com]
The world's largest telecom network, China Mobile has over 683 million customers and is no stranger to big challenges; it even provided coverage at 21,325 feet when the 2008 Olympic torch was carried across Mount Everest.
China Mobile will have to cater to the needs of the Chinese consumer and tailor software to more advanced smart-phones like the iPhone 5 in order to stay as prominent as it is now.
Changyu (张裕酒业)
Changyu [whatsonxiamen.com]
This 1892 Chinese wine manufacture is the industry leader in a growing market. Changyu specializes in upscale wine brands produced on their Shangdong European-style estate, and with China now being the fastest growing consumer market for wine, Changyu won't have to worry about what they will do with all their extra inventory. In fact, China's growing consumer demand for wine is directly causing European cellars to deplete their inventory and is raising wine costs worldwide.
Changyu posted year-on-year gains of 77% last year.
Baidu (百度)
Baidu [searchengineland.com]
China's massive search engine Baidu controls 79% of China's search engine market. Baidu owes much of its success to the familiarity of Chinese language nuances that other foreign search engines cannot match and from this success has even launched a Japanese search engine, it's first major project outside China.
Baidu continues to meet the needs of the growing Chinese market by offering high-demand services, such as free music downloads. In order to continue succeeding and be a key-player in future Chinese consumer spending, Baidu will need to also focus on capturing the mobile phone market where its market share is currently less than half.
Baidu posted year-on-year gains of 67% last year.
SOURCE: CHINA.ORG.N
| You might also like： | ||||
 Top 10 Chinese brand in 1980s |  Top 10 nude models in China |  Top 10 sex events in the world |  Top 10 sports stars courted by China's best universities |  Chinese halal food |
| 无觅 | ||||
Comments