Mr. Jorge Rodriguez, Managing Director of Influential Brands, stated, "With more than 20 years of experience on business and branding across Asia and headquartered in Singapore, Influential Brands seeks to identify and foster collaborations among "Champions of Excellence" in Asia. We recognize business efforts and adaptability of Thai businesses during this challenging time. While the past few years have not been easy, we believe that they have presented an opportunity for many companies to foster collaboration and transform their businesses. We also believe that Thai companies will benefit from exchanges and networking with top companies within our global and regional networks."
Influential Brands' Awards recognise companies and executives that have placed efforts in the areas of innovation and customer engagement across the categories of leadership, brand building, and employee engagement, all of which are fundamental to business.
The awards are divided into five categories as follows:
AwardsSelection criteriaInfluential Brands Leading brands in the market preferred by consumersOutstanding BrandsBrands with continuous growth and excellent branding approachesTop EmployersHigh employee engagement and corporate cultureTop CEOsCEOs who can lead their business towards growth and enable it to excellently adapt to changes in different dimensions Outstanding LeadersExecutives who drive change or transform the line of business they are responsible for in a way that positively impacts the company's revenue or overall reputationInfluential Brands winners of 2021 included Lazada, Central Department Store, The Mall Group, Siam Makro, Bangchak Corporation, True Corporation, FWD Insurance, Muang Thai Life Insurance and Thai Life Insurance. In July, we surveyed millennial Thai consumers aged between 24 and 39 in order to identify the most popular brands among consumers in 2022.
Millennial consumers form the foundation of Thai economy and currently constitute the highest spending group in Thailand. With the sample size confidence of 95% and a +/-5% margin, the survey results can effectively reflect the perspectives and satisfaction towards brands of Thai millennials.
Types of businesses surveyed included over 92 categories of products in the FMCG business, including supermarkets/hypermarkets, online marketplace platforms, fast food, restaurants, bakery chains, banks, department stores, convenience stores, portable computers, smartphones, mobile service providers, coffee shops, luxury cars and eco-cars, cameras, real estate/real estate developers, gas stations, life and general insurance, and delivery service providers.
Ms. Vannee Leelavechbutr, Thailand's leading corporate reputation consultant at Neo Target Co., Ltd., said that its in-depth survey conducted in 2021 indicated that the COVID-19 pandemic played a significant role in dictating consumer decisions. When asked what was the most important consideration when making a purchase, consumers ranked "value for money" first, followed by "durable quality" and "lower prices" among key factors. When compared with the previous years, the number of customers choosing these factors increased significantly. At the same time, "brands" and "convenience" remained important considerations compared to "warranty," "service," and "safety." As for this year, the survey showed consumers continued to put a premium on value for money, followed by the quality of the product and the reliability of the brand. Therefore, it can be seen that brand reliability forms a major consideration in consumers' purchase decisions.
The study was part of the market research across six countries in Asia, namely Singapore, Thailand, Malaysia, Indonesia, Vietnam and China, with the goal of surveying the overall consumer preference in the region.
The winners will be announced in November 2022, and the official award ceremony will be held in early February 2023.
Source: Neo Target
