CATALINA BONNET MONTOYA
One of the things that most caught my attention when I arrived in Peru was how fond Peruvians are of some emblematic brands.
This year, with the launch of the BrandZ™ Top 20 Most Valuable Peruvian Brands 2017, I have been able to better understand what valuable brands do in Peru.
Beer brands Cristal and Pilsen have always been in the top positions. They are able to be part of the LatAm ranking year after year because of their strong emotional bond with Peruvian culture. Additionally, both brands have been able to reflect Peruvian values, such as union, each in terms of communication and by adapting their formats. An example of this is the large variants used to share, which perfectly adapt to the Peruvian consumption format, where consumers can even share a glass by passing it around a table.
There are also the banks, such as BCP, Interbank, and also Mi Banco, which is focused on microcredits. Although these brands might generate love or contempt, they exemplify the importance of responding clearly to the needs of both Peruvian employees and entrepreneurs. In a year when the price of the dollar had a significant impact on these brands, their bond with their users allowed them to continue being leaders. There is also Inca Kola, the most consumed soda brand in Peru. Its historical association with Peruvian gastronomy has enabled it to maintain its emotional bond, by celebrating creativity.
In this year, when for the first time we have a BrandZ™ Top 20 Peruvian Brands ranking, we also find brands as well-loved as those of Alicorp: Don Vittorio (pasta), Primor (oils), and Bolivar (detergents). Despite their pertaining to such different segments, these brands are each anchored in daily family life. Alicorp is strong evidence that trying to build robust brands is worthwhile. This becomes clear when we look at the three axes of these brands: Their presence in the minds of housewives, their differentiating proposition, and their current work on emotional bonding are all contributing factors of success.
Supermarkets and malls are an important part of daily life in Peru. Although traditional markets are still the cornerstone of household shopping, supermarkets have, little by little, managed to offer propositions that understand the needs of housewives: Supermarkets Plaza Vea and Metro have worked hard to be present in the mind of female users. And Wong, a brand relying on differentiation, is managing to reach an audience willing to pay a little more.
Meanwhile, the brands’ that understand the Peruvian culture have been able to build more and more value, such as Real Plaza, which has doubled its brand value year after year.
So we see, brands that have worked to increase their power, either by being salient, meaningful, or different, that have managed to grow within the market to better ride out these times of lower economic growth. As the saying goes: “When the going gets tough, the tough get going.”