Leading brand valuation consultancy Brand Finance announced Global 500 2022, its annual report on the world’s most valuable and strongest brands, on Jan 26. Weixin was named the world’s strongest brand for the second consecutive year.
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The report said, “Weixin plays an integral part in day-to-day life in China, with its all-encompassing set of services allowing customers to message, video call, order food, and shop.” It also played an integral part in the country’s fight against COVID-19, with more than 700 million people using its services to book vaccinations and tests.
The app’s entrenchment in people’s lives gave it strong scores in reputation and consideration among Chinese consumers, according to Brand Finance’s research.
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Apart from calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Certified by ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from around 100,000 respondents in over 35 countries and across nearly 30 sectors.
According to these criteria, Weixin remains the world’s strongest brand, retaining the title for the second consecutive year, with a Brand Strength Index (BSI) score of 93.3 out of 100 and a corresponding AAA+ rating.
The tech sector is once again the most valuable in the Brand Finance Global 500 ranking, with a cumulative brand value of close to $1.3 trillion. Technology and tech brands have become of ever-increasing importance in the modern world, a trend that has only been exacerbated by the COVID-19 pandemic.
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