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Institutional report: Three supporting forces of national trend brands

2024-07-23

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21st Century Business Herald reporter Yang Ping reports from Shenzhen

As a trend that carries the national spirit and excellent traditional culture, in recent years, "national tide" products have stimulated new hotspots in residents' lives and consumption.

According to the "2024 China National Trend Economic Development Status and Consumption Behavior Survey Report", in 2023, the market size of China's national trend economy reached 2 trillion yuan, a year-on-year increase of 9%, and is expected to exceed 3 trillion yuan in 2028.

Among the numerous national trend brands, which ones can become the representatives of new consumption and high-quality domestic products? What is the brand value of different brands?

On July 23, the Hurun Research Institute and Shenzhen Yantian District jointly released the "2024 Shenzhen Yantian District Hurun Top 100 National Trend Brands List" (referred to as the "List"), with Xiaomi, Heytea, and Yuanqi Forest ranking the top three emerging national trend brands, and Huawei, BYD, and Li Ning becoming the top three classic national trend brands.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, believes:A successful national trend brand is supported by three key factors: one is the local cultural or technological heritage, one is the brand’s own hard power that can demonstrate China’s confidence, and the other is the power of young consumers.

The list lists Chinese domestic brands that provide physical products, covering major consumer sectors such as clothing, food, housing, transportation, and personal care. The top 100 brands are selected by comprehensively considering dimensions such as brand strength, social influence, and innovation. They are divided into two groups: the top 80 emerging Chinese brands established after 2000 and the top 20 classic Chinese brands established before 2000.

The average age of the brands on the list is 20 years old, of which the average age of the top 80 emerging national brands established after 2000 is 12 years old, and the average age of the top 20 classic national brands established before 2000 is 54 years old. The brands on the list mainly come from the consumer industry, including food and beverage, daily chemicals, clothing, etc., as well as automobile manufacturing, consumer electronics, home appliances and other exemplary industries of China's smart manufacturing.