Brand Alliance reveals the top brands in Singapore
Brand Alliance have announced the 2014 Top Influential Brands, based on a survey of more than 3,000 Generation X consumers in Singapore. The survey was conducted in the first half of 2014, and involved respondents between ages of 34 and 54 years old to determine their brand preference.
More than 20 new categories were added this year, says Brand Alliance. The new categories are deemed highly relevant given the stage of respondents’ life cycle and careers, which may indicate a higher purchasing power. Both price and elements of convenience are considered in the value equation.
According to the report, Singapore Gen X consumers are price sensitive, yet places value on convenience. As such, they tend to make brand decisions based on ease of obtaining a product or service. Interestingly, it appears that recommendations are less important to the Singapore Gen X outside of property decisions.
Another finding was how Singapore Gen X consumers are increasingly distracted on multiple screens, with online and social platforms rising to be preferred news sources. This isn’t entirely surprising, given the finding in a separate study that users in Singapore and Hong Kong own an average of 5 digital devices each.
“With increasing shifts in consumer behaviour driven by technology and digital platforms, both local and international brands are communicating with a distracted group of consumers,” said Mr Jorge Rodriguez, Director of Strategy at Influential Brands, Brand Alliance Group.
“The window to capture attention and purchase decisions has shifted from traditional retail to include alternative platforms and this spells opportunities for brands to increase conversion for online platforms or increase engagement through multiple channels at various points of a consumer decision journey,” he said.
Here is a snippet of some of the categories and brands that we picked up from the full list:
- Furniture stores: IKEA
- Property agencies: ERA
- Health and life insurance: Aviva
- Dental clinics: Q&M
- Electronic retailers: Best Denki
- Top Credit Cards: HSBC Bank
- Budget airlines: Tiger Airways
- Pastry brands: BreadTalk
- Foodcourts: Kopitiam
- Mobile phone brands: Samsung
- Department stores: Takashimaya
- Online hotel and flights: Agoda
- Online groceries: NTUC FairPrice
- Online apparels: Qoo10
- Urban shopping malls: ION
The 2014 Influential Brands conference will be held on 10 November 2014.