World Brand Lab Releases 'Asia's 500 Most Influential Brands of 2024'

The "Asia Brand Summit" in Hong Kong saw the release of the "Asia's 500 Most Influential Brands of 2024" list by World Brand Lab. Leading the list are Toyota, State Grid, and ICBC. Other top 10 brands include Haier, Honda, Samsung, Sony, China Life, MUFG, and Huawei. China, Japan, and South Korea have the most brands featured. Keynote speakers included prominent professors from universities like Oxford, Cambridge, and Hong Kong.

The selection focused on Asian influence, with market share, brand loyalty, and leadership as primary indicators. China dominates the list with 219 brands, Japan follows with 128, and South Korea with 46. Finance tops industry representation with 70 brands, trailed by technology, media, food and beverage, and automobiles.

National brand loyalty is highest in Japan at 84%, followed by South Korea at 75%, and China at 70%, revealing growing consumer preference for domestic brands. New additions to the list total 37, with China's new entries leading at 15.

This year's summit theme was "Sustainable Leadership: The Rise of Asian Brands in Global Markets." Speakers emphasized the importance of sustainability in brand-building and the risk of losing consumer trust if brands fail to meet sustainability commitments. Gen Z consumers significantly prioritize ESG factors in their decisions.