During the presentation of the annual international Best Brands 2020 award, the HONOR brand received one of the main awards of the event – “The Best Growing Product Brand”. When evaluating the participants of this nomination, both the increase in market share and the attractiveness of the brand for users were taken into account.
The Best Brands Award was established in Germany in 2004, and during this time has occupied one of the key positions in the marketing industry in Europe. The prize is held every year without a jury and without the opportunity to influence the final result. This year, as part of the event, six nominations were presented with ten applicants for victory in each of them.
The Best Growing Food Brand category covers a variety of everyday and durable products. They are evaluated by a common indicator that takes into account the current attractiveness of the brand and the increase in market share of each individual brand over the past year. The Best Brands methodology was developed by experts of the international analytical company GfK.
“The Best Growing Product Brand Award nomination is one of the key awards of the Best Brands international award. The companies that were shortlisted this year showed the highest growth rates.
“In order to win first place in the category of“ The Best Growing Product Brand, ”you need to show both sales growth and an increase in the emotional connection between the brand and the audience. The HONOR brand managed to organically win the minds and hearts of consumers along with market share, ”said Oleg Volkosh, president of Mediaplus Group, head of the Best Brands organizing committee in Russia.
The HONOR brand has been on the market since 2013. According to GfK, in the first half of 2020, the total vendor share in the smartphone market was 25.9%. The three most popular models for this period included two smartphones of the company – HONOR 8A and HONOR 10i.