Kantar and WPP announce winners of 2020 BrandZ LatAm
Kantar announces retail profit in Latin America at BrandZ Top 50 Most Valuable Brands 2020
With a total brand value increase of 38%, the Latin American retail sector outperformed all other categories in the 2020 BrandZ Top 50 Most Valuable Latin American Brands report released today by WPP and Cantar. The enormous growth in retail corresponds to an increase in value of only 2.6% of the overall BrandZ LatAm ranking this year.
Investing in digital transformation was key; The most valuable retailers promote customer loyalty and business value with innovative business models, including omnichannel solutions, online and mobile platforms, and digital payment systems. Mexico Walmart's own discount store, Bodega Aurrera (No. 6, USA$ 5.4 billion / £ 4.26 billion ) was the best performer overall with an increase in brand value of 44% and an increase of four places in the ranking. This follows aggressive expansion plans that have opened new stores to strengthen sales capacities and physical presence in the region.
Chile Falabella (No. 7, USA$ 5.2 billion / £ 4.105 billion) was the other retail brand that came in the top 10 thanks to the development of an integrated digital retail platform to maximize its diverse portfolio and use its omnichannel strategy. Other top performers in retail were Lider (No. 13, USA)$ 3.2 billion / £ 2.5 billion), Liverpool (No. 21, USA$ 2.4 billion / £ 1.9 billion) and Lojas Americanas (No. 39, US$ 1.3 billion / £ 1.026 billion) with brand value growth of 19%, 10% and 23%.
The best-placed newcomer this year was the e-commerce company MercadoLibre (No. 19, USA)$ 2.5 billion / £ 1.97 billion ) with a presence in around 20 LatAm countries that have recently introduced new digital payment methods such as QR codes, virtual wallets and discounts with the Mercado Pago app. Supermarket chain Magazine Luiza (No. 24, USA$ 2.3 billion / £ 1.8 billion) and fast fashion retailer Renner (No. 29, USA$ 1.9 billion / £ 1.5 billion), both Brazilian brands, also made it into the top 50 this year.
There were a total of 11 retail brands in the top 50, the others were Sodimac (No. 12, USA)$ 3.2 billion / £ 2.5 billion), Ipiranga (No. 38, US$ 1.3 billion / £ 1.026 billion) and Tottus (No. 45, US$ 1.1 billion / £ 869 million). Their combined value was US$ 27.1 billion / £ 21 billion20.2% of the total ranking compared to 15.1% in the previous report.
Financial institutions led the ranking for the first time with the Brazilian banks Bradesco (No. 1, USA)$ 9.5 billion / £ 7.5 billion) and Itau (No. 2, US$ 8.4 billion / £ 6.6 billion) both grow by 35%. Given the threat posed by the rise of fintech and neobanks, established financial institutions have also invested in technology to provide financial services to clients. This includes new digital payment methods such as the Mexican state-owned Cobro Digital (CoDi), a new system that was introduced by the Bank of Mexico (Banxico), which is supposed to revolutionize finance in Mexico in line with the government's goal of moving to a cashless economy.
With a total brand value of US$ 134.3 billion / £ 106.1 billionfrom the USA$ 130.8 billion / £ 103.3 billion In the previous year's ranking, the BrandZ Top 50 Most Valuable Latin American Brands report for 2020 spanned a number of industries, from energy and healthcare companies to communications providers and airlines, and included brands from six Latin American countries. Argentina, Brazil, Chile, Colombia, Mexico, and Peru.
Brazil has overtaken Mexico as the leading country in the ranking for the first time in five years. Overall, Brazilian brands grew 21% and accounted for 40% of the ranking value. Local brands continued to dominate the beer sector, although beer consumption in Latin America slowed. Twelve are included in the rankings, including Corona (# 3, $ 7.5 billion / £ 5.9 billion) and Skol (# 4, $ 7.2 billion / £ 5.691 billion). The focus was on maintaining local characteristics and communicating them in every market.
Brazilian telecommunications brands, Claro (No.15, USD3.3 billion / GBP2.371 billion) and Embratel (# 50, $ 944 million / £ 746 billion) are owned by America Movil, However, the huge Latin American telecommunications company has also managed to remain relevant to the local market. It offers proven, bespoke solutions and a seamless customer experience to help local businesses of all sizes evolve and adapt to change.
The Americas Edition 2018-2019, a biennial edition of World Branding Awardstook place at the Plaza Hotel on Fifth Avenue in New York City. Led by comedian Moody McCarthy, more than 1,500 brands from America and the Caribbean from 22 countries participated and 81 brands from 16 countries.
The 2020 Americas Edition takes place in July at the Plaza Hotel on Fifth Avenue in New York City.