Yuu dominates Kantar's BrandZ Hong Kong ranking

DFI Retail’s lifestyle app, Yuu, has been ranked first in the 2024 Kantar BrandZ ranking for Hong Kong. This ranking is based on 6,000 consumer interviews covering over 137 brands across 10 categories. Launched in 2020, Yuu is the most downloaded app on both Apple and Google Play stores, with around five million users—over two-thirds of Hong Kong’s population. Its network includes over 2,500 partner stores in sectors such as groceries, beauty, fuel, and insurance. 

Hong Kong's flagship carrier, Cathay Pacific, which took a record beating during the Covid years and PR setbacks last year, has bounced back with a profit of HK$9.79 billion (US1.25 million) and retained its position as Hong Kong's most trusted airline. In the overall ranking, it sits at the number two spot, ahead of the payment network Octopus. The report attributes Cathay's consistent investment in branding and marketing, particularly the introduction of the all-new Aria business class suite and the revamped Cathay Loyalty Program, for this success.

Top 5 Strongest Brands in Hong Kong 2024

The report also talks about the inroads that challenger brands like Hong Kong Airlines and HK Express are making. HK Express's focus on niche segments, such as its "Air + Ferry Pass" service integrating ferry travel within the Greater Bay Area and its targeted discounts for senior citizens, are cited as clear paths to market share gains. 

Hong Kong’s payments sector is quite distinct within the region. Unlike other areas where global players like Visa, Mastercard, and Alipay dominate, these brands do not lead in Hong Kong. The veteran cashless payment system, Octopus, retains its top position through continuous innovation and the expansion of its cross-border functionality. Octopus leverages AI for personalised user experiences, and its expansion into mainland China, along with the introduction of the Octopus UnionPay card, are key factors in its sustained leadership.

However, Visa’s aggressive expansion into Octopus’s market with its “Tap to Ride” initiative, indicates a potential shift in the payment landscape, according to the report. The top 10 payment networks chart shows Octopus and Visa as the leading players in Hong Kong. In contrast, other networks like Alipay, which is strong in the mainland, and Mastercard, which has global recognition but lacks deep local understanding, perform relatively weakly. This suggests opportunities for differentiation and brand building in Hong Kong’s payment sector.

In the banking sector, HSBC's dominance is unparalled but the emergence of challenger digital banks like Mox, Livi, and ZA Bank, each with unique offerings offer a considerable challenge. While these digital banks excel in innovation and seamless digital experiences, the report cautions that they need to amplify their relevance to a broader audience to achieve sustained growth. The banking top 10 chart shows HSBC's clear leadership, but also the potential disruptive power of the digital banking sector.

Like the Kantar SEA and APAC rankings, McDonald's is also a success story in the SAR. It tops the casual dining sector with the constant innovation in its digital ordering, product services, menu and smart pricing strategies. McDonald's switch to wooden cutlery and the opening of its first LEED Zero Carbon restaurant has helped in local success. 

The detailed report can be accessed via Kantar, the table of top has brands across categories and sectors is below: 

Top brands across categories