Ho Chi Minh City, December 2024 – Maintaining their supremacy, Shopee, Samsung, and Vietnam Airlines continue to secure the top three positions in the Decision Lab Best Brand 2024 Rankings. Shopee, rocketing from the third position in 2023, has dethroned Samsung (the number one position for three consecutive years) to the top in this year’s ranking.
Decision Lab, YouGov’s exclusive partner in Vietnam, has released the Decision Lab Best Brand Rankings 2024. It reveals the Top brands in terms of overall brand health and the most improved brands over the past year.
This year’s rankings are based on an extensive survey of 74,688 consumer responses, making it the most comprehensive brand health study in Vietnam. Using YouGov BrandIndex’s proprietary Index Score, the rankings evaluate brand health through key indicators, including impression, quality, value, satisfaction, recommendation, and reputation.
The rise of e–commerce and retail in the 2024 Rankings
Shopee has claimed the top position in the rankings, dethroning Samsung, which held the number one spot for three consecutive years, marking a turning point in Vietnam’s e-commerce landscape.
The rankings also welcomed two notable newcomers to the Top 20. TikTok surged from 44th place in 2023 to 14th, achieving one of the most significant single-year improvements ever recorded. Its innovative TikTok Shop has redefined how Vietnamese consumers engage with online shopping, blending entertainment with commerce in a trend widely recognised as “shoppertainment.”
This year’s Top 10 Improvers also showcase the strong performance of e-commerce and retail. Several brands in these sectors have climbed into the Top 10 Most Improved Brands, with TikTok leading the list, followed by Bách Hóa Xanh, Shopee Food in 4th, and Grab Food in 10th. These achievements reflect that convenience, entertainment, and platform integration have become the new benchmarks for success in Vietnam’s consumer market. As these sectors continue to evolve, their influence is set to grow even further in shaping Vietnam’s retail and digital commerce landscape.
Mr Thue Quist Thomasen, CEO of Decision Lab, commented on the ranking:
“This year’s rankings highlight the significant impact e-commerce and retail brands are having on consumer experiences. The impressive rise of Shopee and TikTok shows how these brands are seamlessly blending innovation and convenience to connect with consumers. The integration of entertainment and shopping on e-commerce platforms is completely reshaping the online shopping experience in Vietnam.”
A comeback year for Consumer finance: Dominating the Top Improvers
The Decision Lab Best Brand Rankings 2024 spotlights the strong comeback of the consumer finance sector after a tumultuous year.
Home Credit took 5th place in the Top 10 Improvers, with FE Credit and Visa closely following at 8th and 9th, respectively. These brands have achieved notable growth by introducing improvements such as trust-building, streamlined credit processes, enhanced digital platforms, and tailored financial solutions. Their efforts align with the growing demand for cashless payment options and accessible financing solutions in Vietnam’s rapidly modernising financial ecosystem.
Mr Thue Quist Thomasen, CEO of Decision Lab, commented on the ranking:
“Consumer finance brands have demonstrated commendable efforts in rebuilding trust and adapting to the changing needs of consumers. Their focus on innovation, digital transformation, and customer-centric solutions highlights their commitment to providing accessible and efficient financial services, reinforcing their significance in Vietnam’s evolving financial landscape.”
Mr Tran Tuan Anh, Executive Director of Shopee Vietnam, commented on the ranking:
“We are honored and proud to be at the top of the Decision Lab Best Brand Rankings 2024. This is the clearest evidence of the tireless efforts of the entire Shopee Vietnam team in the challenging year of 2024. This recognition is also a great motivation for Shopee to continue innovating and developing. Our goal is to bring even better shopping experiences to Vietnamese consumers, strongly support the development of the domestic seller community and contribute to the sustainable development of e-commerce in Vietnam.”
Mr Khang Pham Ngoc, General Director of Home Credit Vietnam, commented on the ranking:
“We are proud to be recognised for our significant growth and improvement, amongst the leading financial institutions in Vietnam and the top brand in consumer finance. This recognition validates our efforts to adapt to our customers’ needs within a rapidly changing financial landscape, providing them with access to licensed credit solutions. We look forward to further innovation in digital finance solutions that empower Vietnamese consumers, whilst also prioritising financial literacy initiatives to ensure responsible borrowing and financial well-being.”
The Decision Lab Best Brand Rankings 2024 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 2023 and 31 October 2024.
The Index Improvers chart ranks the brands with the highest increase in Index scores, comparing period from 1 November 2023 to 31 October 2024 with the previous 12 months.
Both scores are representative of the online population of adults 18+.
All brands have been tracked for at least 6 months to be included in the rankings and for at least 18 months to appear in the Improvers table. The sample size is determined based on the total number of interviews conducted across 10 sectors.
Download the full report here.
Decision Lab is a company committed to driving new thinking and technology in marketing with Vietnam’s most modern market research offering. Combining Decision Lab’s thought leadership and problem-crunching capability with the industry’s strongest data solutions provides a best-in-class offering for leading innovative brands ready to transform with changing market conditions.
Decision Lab is well-known for its thought leadership in digital media and the understanding of a new generation of consumers. Collaborating with innovative multinational companies and prominent international technology leaders, it has established itself as a vanguard in the industry.
Decision Lab is the exclusive partner of YouGov in Vietnam.
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Source: Vietnam Insider