People visit the BYD stand during the Paris Motor Show in Paris, France, Oct. 18, 2022. (Xinhua/Gao Jing)
BEIJING, Nov. 4 (Xinhua) -- KPMG has recently released the second edition of the KPMG China Future Sector 50 Ranking Series list which shows the vitality and great potential of Chinese brands, reported Shanghai Securities News Thursday.
The shortlisted brands cover consumer electronics, personal care and beauty makeup, clothing, shoes and hats, food and catering, and other popular sectors, and brands in consumer electronics outshine others particularly, representing the rapid development and market trend of China's sci-tech innovation, according to Fang Haijie, chairman of the organizing committee for the event.
The ESG (Environmental, Social and Corporate Governance) assessment system adopted by the selection activity this time has made a group of domestic brands boasting business innovation abilities and social responsibilities arouse the attention of the public, said Lin Qihua, a partner of KPMG China, adding that developing ESG is one of the key factors for enterprises to enhance brand image and increase customer loyalty.
Functional innovation and experience innovation are the main directions of the current development of domestic brands, noted Lin, adding that the experience the products bring to the consumers determines the development durability of enterprises, and in addition to products and services, experience innovation also includes consumers' recognition of the brand concept and aesthetic value.
As for the issues and bottlenecks restricting the development of domestic brands, Lin pointed out that domestic brands should form differentiation advantages that are difficult for others to copy on the product side, and expand offline channels to make consumers intuitively feel the products.
(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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