Lenovo, which has been shaping its global brand for many years, ranks second and remains unchanged in Brand Power from last year. In contrast, Alibaba saw its Brand Power surging by 48 percent and made it into the top three. Brand Power of Chinese brands increased by 15 percent from last year, tripling the growth rate of last year, indicating the growing vitality and competitiveness of Chinese companies.
That being said, local recognition of Chinese brands has declined from 19.9 percent in 2016 to 14.8 percent in 2018 among consumers aged between 18 and 34. David Roth, CEO of WPP Global Retail Business, noted that Chinese brands should go beyond product launching and make more efforts in building brand image with human touch and unique identity. "This is the key for Chinese companies to successfully establish themselves overseas."