The growth in value of the most valuable Philippine brands echoes the positive sentiments of their nation’s economic outlook, according to a new report by Brand Finance, a leading brand valuation consultancy.
This is especially so for brands in the banking and real estate sectors that benefited from strong post-pandemic economic rebound, improving financial literacy as well and urbanization and gentrification, Brand Finance said.
“The promising and rapid economic growth in the Philippines provides brands with a favorable environment for success. In addition to their ongoing efforts focusing on growing consumer segments and strategic marketing initiatives, it is crucial for brands to develop and sustain their brand strength to leverage current opportunities for long-term growth,” said Alex Haigh, managing director of Brand Finance Asia Pacific.
All banking brands and real estate brands listed in 2023’s rankings posted upticks in brand value this year, ranging from 4 percent to 26 percent for banking brands and 4 percent to 54 percent for real estate brands.
Chinabank posted the largest brand value percentage increase among banking brands with a 26-percent growth to $350 million, while Ayala Land’s brand value increase of 54 percent to $451 million places it as the largest brand value gainer among real estate brands.
BDO, with a brand value growth of 14 percent to $2.5 billion, is the most valuable Philippine brand. The banking brand rose one spot to claim the crown from PLDT which has a brand value of $1.9 billion, down 25 percent from the previous year. PLDT fell three places to 4th position.
Brand Finance said that in terms of brand strength, BDO’s Brand Strength Index (BSI) score fell 1.3 points to 85.2 of 100, although it maintained its AAA brand strength rating. Completing the triumvirate of the most valuable brands with BDO are Jollibee (brand value up 51 percent to $2.3 billion) and Globe Telecom (brand value down 4 percent to $1.9 billion).
It said that in terms of brand strength, Mang Inasal is the strongest brand among the most valuable Philippine brands ranked this year. The restaurants brand recorded an impressive BSI score of 86.3 points of 100, with a corresponding brand strength rating of AAA.
Its performance was driven by factors such as a perfect score for brand familiarity, in line with an expanded store network in the country. Following behind Mang Inasal are Bear Brand and Globe Telecom as the second and third strongest brands in our rankings respectively.