Over the last several years, such upstart consumer brands have been gaining market share in China and South Korea, according to a report from Bain and Company released Monday.
China and South Korea stood out as markets where insurgent brands were doing particularly well.
In South Korea, incumbent brands dominated just four sectors — fragrances, confectionery, diapers and bottled water, the report showed.
High penetration of e-commerce in Indonesia (26%) and Singapore (13%) also gave insurgent brands a boost.
Incumbent brands still hot
Persons:
David Zehner, Bain, Zehner, There's, It's
Organizations:
Future Publishing, Bain and Company, Bain, CNBC
Locations:
Qingzhou city, East China's Shandong, Asia, China, South Korea, Pacific, South, Indonesia, Singapore, Malaysia, Philippines, India, confectionary