Samsung has once again claimed the ‘best brand’ title in Vietnam. The South Korean giant has topped the Best Brand Ranking for the third consecutive year.
Decision Lab, YouGov’s exclusive partner in Vietnam, has released the Decision Lab Best Brand Rankings 2023. It reveals the Top brands in terms of overall brand health and the most improved brands over the past year.
The rankings are based on approximately 32,937 interviews among Vietnamese consumers, making it the most comprehensive continuous brand survey in Vietnam.
The rankings are based on YouGov BrandIndex’s Index Score, a measure of overall brand health calculated by taking each brand's average score of Impression, Quality, Value, Satisfaction, Recommend, and Reputation.
Maintaining their supremacy, Samsung, Vietnam Airlines, and Shopee continue to secure the top three positions in the top 20 best brands.
The 2023 ranking marks the first time that brands from the automotive industry are included. Honda Motorbikes, with a score of 38.5, is the only representative from the sector and secures the fourth position. Honda’s appearance moved Panasonic and MoMo down one spot, although both have increased scores.
Two banking brands, Vietcombank and MB, saw an increase in their rankings. The military bank showed the most impressive jump among the top 20 brands, moving up 17 places.
Local brands dominate the improvers
Decision Lab’s rankings show the strong performance of the F&B sector. While packaged food brands such as Hảo Hảo, Kinh Đô, Omachi, and Nutifood are among the top 20, QSR brands such as Trung Nguyên Legend, Jollibee, and Highlands Coffee have grown significantly, reaching the top 10 most improved brands.
In the retail sector, Mobile World Group had a good year, with all three of its main businesses entering the rankings. In the top 20, Thế Giới Di Động maintained its position in the top seven, while Điện Máy Xanh jumped to position 14th. Bách Hóa Xanh is the group's most improved brand, ranking fourth in the improver ranking.
TikTok has shown tremendous progress in 2023, with a growth rate of 9.4 points. This progress is the highest ever seen, making TikTok the most improved brand. In Vietnam, introducing the TikTok Shop has turned TikTok into a phenomenon. The steady progress of the brand indicates that more and more consumers are embracing this trend of 'shoppertainment.’
Mr Thue Quist Thomasen, CEO of Decision Lab, commented on the rankings:
“Decision Lab Best Brands Ranking indicates strong brand loyalty among Vietnamese consumers. Despite some changes in their scores, the top three companies from 2023 remain. The key takeaway here is the power of branding. Brands that want to grow sustainably need to invest in high-quality products and services and brand reputation. This will help to build long-term brand engagement and customer loyalty.
Vietnamese brands are doing very well in the market. 12 of the top 20 best brands in Vietnam are local, while the same goes for six of the ten most improved brands. This shows the increasing strength and competitiveness of Vietnamese brands. They are investing heavily in innovation and marketing to strengthen their positions further in the market.”
Mr Dang Anh Tuan, Executive Vice President of Vietnam Airlines, commented on the rankings:
“Vietnam Airlines is delighted to have been ranked among the top 20 Best Brands by Decision Lab, and is proud to be the only airline representative in this group. We would like to express our sincere gratitude to the experts and consumers who voted for the national flag carrier. Your trust is a precious motivation for every member of Vietnam Airlines to continue striving tirelessly, to soar higher, and to continue providing wonderful flying experiences for passengers when they take off with us.”
Mr Tran Tuan Anh, Executive Director of Shopee Vietnam, commented on the rankings:
“We are very honoured that Shopee continues to be in the Top 3 best brands in Vietnam in 2023. This title not only shows Shopee's popularity in the current market but also affirms the effectiveness of the strategy of increasing the free shipping scheme and promoting incentives for Shopee Live throughout this year, helping users shop and entertain conveniently at optimal costs while supporting sellers and brands to grow effectively with the trend of live-commerce. We will continue to strengthen support packages for users, businesses, and local communities, gradually helping them access the great benefits of Shopee's comprehensive digital ecosystem.”
Mr Pham Nhu Anh, CEO of MB, commented on the rankings:
“The Military Commercial Joint Stock Bank has risen to become the #2 top bank brand in Vietnam in 2023, reflecting the clear strategy of brand building that we have focused on implementing over the years, closely linked with the strategic vision of becoming a digital enterprise, leading financial group. This is also evidence of the trust and affection of customers for MB – a motivation for us to continue to build and strengthen the brand with creativity, dedication, and constant innovation to bring the most optimal financial experiences to customers.”
The Decision Lab Best Brand Rankings 2023 are calculated using data collected from YouGov's online panel in Vietnam daily from the flagship YouGov BrandIndex solution.
The brands were ranked based on YouGov BrandIndex’s Index score, which measures overall brand health calculated by taking the average of Impression, Quality, Value, Satisfaction, Recommend and Reputation. Duplicate brands within markets have been removed, with the highest rank retained.
The Index Rankings chart shows the brands with the highest Index scores between 1 November 2022 and 31 October 2023.
The Index Improvers chart ranks the brands with the highest increase in Index scores, comparing 1 November 2022 to 31 October 2023 with the previous 12 months.
Both scores are representative of the online population of adults 18+.
All brands have been tracked for at least six months to be included in the rankings and have been tracked for at least 18 months (as well as being currently tracked) to appear in the Improvers tables.