BrandZ Top 50 Most Valuable Indonesian Brands Increase 4% in Overall Brand Value to $84 Billion as Technology-enabled Categories Deliver Strongly
Brands tap into a strong sense of national pride and reveal a renewed understanding of what it means to be Indonesian
JAKARTA, Indonesia, Aug. 22, 2019 /PRNewswire/ -- Bank Central Asia (BCA) has claimed the number one spot for the fifth year running in the BrandZ Top 50 Most Valuable Indonesian Brands ranking released today by WPP and Kantar.
As a result of the bank's consistent effort towards understanding its customers' needs and providing personalised customer experience, BCA has grown 3% in brand value to $13.1 billion, priding itself on user-friendly innovations in mobile banking, such as cardless cash withdrawals, opening accounts via BCA mobile banking, and account switching via QR codes and e-wallets. This allows it to meet the expectations of its 20 million customers and earn their trust. BCA also appears in the BrandZ Global Top 100 Most Valuable Brands ranking for the second year running.
Amidst the economic slowdown, the growth in overall brand value of the Top 50 ranking has increased by 4% to $84.0 billion in 2019, exceeding the 3% growth of the Jakarta Stock Market over the past year. While the bulk of Indonesia's wealth may lie in Jakarta and the other major urban centers, growth is fastest throughout smaller towns and the more remote islands.
In second place is BRI (No.2, $11.0 billion), which is closing the gap on BCA as it maintains its consistent investment in brand and a sharp focus on retaining a personal touch with customers as digital banking grows. Telecom provider Telkomsel is third with a brand value of $7.3 billion.
Financial services continue to dominate the ranking with a 40% brand value category share worth $34 billion, with four banks ranked in the top 11, including Mandiri (No.5, $6.2 billion) and BNI (No.11, $2.1 billion). Despite seeing declines, Tobacco and Telecoms categories have the next highest value share with 22% ($18 billion) and 12% ($10 billion) respectively.
During this era of digital disruption, traditional brands are adjusting their business models to maintain their presence in the industry while tech-enabled categories, particularly Travel and Transport, are the fastest growing as relatively new brands shake up industries with new products and services. These categories (including Airlines) together posted 74% growth in brand value, led by powerful digital players such as the recently rebranded lifestyle app GO-JEK (No.6, $4.5 billion) which grew 88% and Travel Agency Traveloka (No.13, $1.7 billion) which gained 111%.