In the latest ‘Kantar BrandZ Most Valuable Indian Brands’ report, Zomato has emerged as the fastest-growing brand, achieving a remarkable 100% year-on-year increase in brand value. The company’s value has surged to $3,549 million, driven by its innovative strategies and expansion into quick commerce. Meanwhile, MakeMyTrip has made a notable debut in the list of top Indian brands, attributed to significant improvements in customer experience and streamlined travel booking processes.

Zomato’s Exceptional Growth

Zomato’s impressive growth can be attributed to its continuous efforts in reducing customer friction and enhancing its market presence. The company’s success reflects its ability to foster a strong consumer desire and trust in its brand.

• Innovative Expansion: Zomato’s strategic move into quick commerce and its focus on minimizing customer effort have been pivotal in doubling its brand value.
• Consumer Engagement: The brand’s ability to engage and retain customers effectively has bolstered its market position and value.

MakeMyTrip’s Debut in Top Brands

MakeMyTrip’s entry into the top Indian brands list is a significant achievement, driven by a surge in travel and improved digital experiences. According to Soumya Mohanty, Managing Director & Chief Client Officer at Kantar, the company’s enhancements in the travel booking process have played a crucial role.

• Enhanced Travel Experience: The company’s efforts to reduce friction in booking and destination planning have contributed to its notable rise.
• Growing Travel Demand: An increase in travel activities and the use of travel websites has further supported MakeMyTrip’s ascent.

Overall Brand Growth in India

India’s top 75 brands have collectively seen a 19% increase in value, reaching a total of $450.5 billion. This growth outpaces many global rankings and mirrors the 20% increase observed in the global top 100 brands.

• Diverse Sector Growth: Brands across various sectors have driven this growth, with significant contributions from automotive and financial services.
• TCS Maintains Leadership: Tata Consultancy Services (TCS) retains its top position with a brand value of $49.7 billion, a 16% increase from last year, owing to investments in AI and digital transformation.

The automotive sector has experienced notable growth, with brands like Maruti Suzuki, Bajaj Auto, and Mahindra showing significant increases in brand value. Mahindra’s dominance in the SUV market, particularly with models like the XUV700 and Scorpio N, highlights the sector’s strength.

• SUV Popularity: Mahindra’s SUVs account for 53% of India’s passenger car market, reflecting high demand and strong market presence.
• Rising Middle Class: Increasing disposable income and improved infrastructure have driven the demand for vehicles, shifting car ownership from a status symbol to a necessity.

Insights and Challenges

The report highlights a strong rebound in brand value post-COVID, with some sectors like packaged goods experiencing a slowdown. While top Indian brands have shown impressive growth, there are challenges to address.

• Brand Equity Investment: Successful brands invest in meeting consumer needs and setting trends, which contributes to faster growth. Brands that excel in these areas see a 27% growth, compared to 19% for the average.
• Long-Term Relevance: Large brands face the challenge of maintaining relevance amidst shifting consumer expectations. There is a need for continuous investment in brand equity to avoid value decline.

Important Information

• Top Performers: Zomato’s 100% growth and MakeMyTrip’s debut in the top brands list highlight significant achievements.
• Sector Growth: Automotive and financial services have shown remarkable progress, with TCS leading in brand value.
• Brand Equity: Brands that focus on consumer needs and trendsetting experience higher growth rates.
• Future Challenges: Maintaining long-term relevance and adapting to consumer expectations are critical for sustained success.

The ‘Kantar BrandZ Most Valuable Indian Brands’ report underscores the dynamic growth of Indian brands, with Zomato and MakeMyTrip standing out for their exceptional performance. The overall increase in brand value reflects a robust market rebound, with key sectors like automotive driving significant growth. As brands continue to evolve, investing in brand equity and adapting to changing consumer expectations will be crucial for sustaining success.