UNRAVELING THE 2023 BRAND VALUE MYSTERY: TECH'S TUMBLE AND THE SURVIVORS

Today, we're diving into the crazy world of brand values in 2023, and let me tell you, it's been a rollercoaster ride, like a Tilt-A-Whirl at the amusement park.

So, it turns out that it's not just the prices of tech services that are taking a nosedive; their precious brand identities are in a freefall too! India's top brands have been on a wild ride through the global economic circus of 2023.

According to Kantar BrandZ, the combined value of India's top 75 brands dropped by 4% to a cool $379 billion. Now, that's a lot of zeros, even for a computer. But hey, don't despair, they're still holding up better than their global counterparts who lost a whopping 20% of their value.

The biggest hit came to Indian tech giants, whose brand values shrunk by 14%. Blame it on global tensions, economic somersaults, and the occasional tech glitch.

But wait, if you take tech out of the equation, things get steadier than a cow on roller skates, as Soumya Mohanty from Kantar Insights Division explains.

Now, brace yourselves for the top dog - TCS! This tech giant may have lost 6% of its value, but it's still the king of the hill. They've got the secret sauce for customer loyalty and brand value, a bit like the secret menu at your favorite burger joint.

Infosys took a 17% hit, while HCL Tech managed a 3% boost. Meanwhile, Wipro went through a brand value earthquake, losing a jaw-dropping 42%.

Moving on to the auto world, it's been revving up like a Formula 1 race in 2023. Televisions made a spectacular jump to the 51st position, thanks to some fancy partnerships and a decade-long deal with BMW. Vroom, vroom.

Mahindra, sitting at the 47th spot, had a growth spurt of 48%. They're not just cars; they're the superheroes of the auto industry.

And remember Royal Enfield? Well, Indians' love for premium bikes pushed their value higher, and they're riding high like a motorbike on an open highway.

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As for financial services, they've been on a financial rollercoaster themselves. With digital banking and Hub Bank's 28% rise, they're swimming in a pool of brand value.

ICICI Bank is soaring, and newcomers PhonePe and Cred are making a grand entrance like rock stars at a music festival.

But hey, not everyone's partying. PayTM, Zomato, Swiggy, Flipkart, Naukri, Oyo, and Nykaa are shedding value like a shedding snake, while Byju's didn't even make it to the party this year.

The wild ride of brand values in 2023. Buckle up, because the world of business is always a thrill.