Commissioned by the Industrial Development Bureau, MOEA, the Taiwan Institute of Economic Research and world-leading brand consultancy Interbrand released its 2022 Best Taiwan Global Brands report on November 22, 2022. In the fast-changing global market, Taiwanese brands remain highly resilient and competitive this year, and deliver outstanding performances on the international market. Top 25 Taiwanese brands increase value by 12% to US$13.122 billion. Together, these brands have generated over US$10 billion in value in three consecutive years, and maintained positive growths for eight consecutive years.
Under three years of pandemic restrictions and turbulent geopolitical and economic environments, Taiwanese brands have been persevering with reforms and capabilities. In particular, technology and electronic brands have demonstrated foresight and dynamics, with impressive double-digit growths.
This year's global brand development focuses on three aspects: people-oriented, ground-breaking, and sustainability. Brands focus amply on people, and establish deep connections with human. Brands move beyond borders and explore emerging applications. It's also crucial for brands to upgrade sustainability efforts. Enterprises integrate ESG into branding strategies for sustainable empowerment and international markets.
Six issues have also emerged from brand development in Taiwan. Technology brands highlight interdisciplinary applications and diverse empowerment. They continue to discover potential markets, and expand new digital applications for a variety of industries. Electronic brands underline personal expression and innovation-driven needs to transform for differentiation and individual consumer. Food retailer brands prioritize social engagement and omni-Channels. Consumers want not only great flavors, but also deep connections on social media. Omni-channel experiences need to upgrade to broader shares of mind among consumers.
Financial service design personalized digital services and expand brand impacts for sustainable ecosystems. Highlights include flexibility, autonomy, and forward-looking applications. Under the pandemic, people are more aware of personal health and wellbeing. Health brands develop immersive scenarios and co-creative experiences. Manufacturing brands are committed to resilient supply chains, and smart transformation driven by sustainable values and practice smart-led sustainability upgrades.
Amid post-pandemic economic shifts, high inflation and uncertainties worldwide, Taiwanese brands are still shining for being adaptive, responsive, and capable. Taiwanese businesses are also utilizing brand power to plan and innovate ahead, and continue delivering the "Foresight" spirit in global markets.