Year Ahead Event
Unilever Sees Spurning of Global Brands Spread Beyond Asia
- Multinational brands are losing marketing sway with consumers
- Local brands in emerging markets, U.S. and Europe gain share
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The tide is turning against multinational brands, which have been losing market share to local products not just in Asia’s emerging markets but also in the U.S. and Europe, according to Anglo-Dutch consumer goods giant Unilever NV.
“Consumers are changing, not craving for global brands just for the sake of it,” said Hemant Bakshi, president director of Unilever Indonesia, at a at Bloomberg’s Year Ahead Asia Conference in Jakarta on Wednesday. "From a time when consumers used to look westward and look toward global trends, what’s important now is much more what’s happening within the country, in the smaller community.