October 18th, 2021, Nabilla Ramadila
YouGov’s Finance Purchase Funnel Rankings 2021 Hong Kong reveal the financial services brands that are best at converting consumers through the purchase funnel. The Rankings are based on the Consideration score from YouGov BrandIndex among consumers who are Aware of each brand, over a period of 12 months. This allows us to show which brands are most successful at converting Aware consumers into ones that would consider the brand when next in-market.
YouGov Finance Purchase Funnel Rankings 2021 in Hong Kong: Insurance
In Hong Kong, AIA leads the Insurance list this year with a score of 29.8. Manulife came in second with a score of 26.0. In third and fourth position were Prudential and AXA respectively scoring 23.0 and 18.9. Rounding out the top five FWD scored 15.6.
| YOUGOV FINANCE PURCHASE FUNNEL RANKINGS 2021 IN HONG KONG: INSURANCE | ||
|---|---|---|
Rank | Brand Name | Score |
1 | AIA | 29.8 |
2 | Manulife | 26.0 |
3 | Prudential | 23.0 |
4 | AXA | 18.9 |
5 | FWD | 15.6 |
6 | HSBC Life | 14.9 |
7 | BUPA | 13.4 |
8 | Sun Life | 12.2 |
9 | Bank of China Group Insurance/ BOC Life | 12.0 |
10 | Blue Cross | 11.3 |
Chart shows the brands with the highest Consideration score among the Aware audience between September 1st, 2020 to August 31st, 2021
YouGov Finance Purchase Funnel Rankings 2021 in Hong Kong: Banks
HSBC leads the Hong Kong's Banks list this year with a score of 38.6. Hang Seng Bank came in second with a score of 33.4. In third and fourth position were Bank of China and Standard Chartered Bank respectively scoring 26.8 and 26.5. Rounding out the top five Citibank scored 20.6.
| YOUGOV FINANCE PURCHASE FUNNEL RANKINGS 2021 IN HONG KONG: BANKS | ||
|---|---|---|
Rank | Brand Name | Score |
1 | HSBC | 38.6 |
2 | Hang Seng Bank | 33.4 |
3 | Bank of China | 26.8 |
4 | Standard Chartered Bank | 26.5 |
5 | Citibank | 20.6 |
6 | Mox (Virtual Bank) | 20.6 |
7 | ZA Bank (Virtual Bank) | 19.7 |
8 | DBS Bank | 15.2 |
9 | livi (Virtual Bank) | 14.9 |
10 | WeLab (Virtual Bank) | 13.9 |
Chart shows the brands with the highest Consideration score among the Aware audience between September 1st, 2020 to August 31st, 2021
YouGov Finance Purchase Funnel Top Improvers 2021 in Hong Kong: Banks
The most improved Banks in Hong Kong this year is Bank of China with a rise of +2.7 points, ahead of Citibank (up +1.5 points) and Standard Chartered Bank (which has improved by +1.0 points). The fourth and fifth position were Bank of East Asia (+0.5 points) and Fubon Bank (+0.4 points).
| YOUGOV FINANCE PURCHASE FUNNEL TOP IMPROVERS 2021 IN HONG KONG: BANKS | ||||
|---|---|---|---|---|
Rank | Brand Name | 2021 Score | 2020 Score | Change in Score |
1 | Bank of China | 26.8 | 24.1 | 2.7 |
2 | Citibank | 20.6 | 19.1 | 1.5 |
3 | Standard Chartered Bank | 26.5 | 25.5 | 1.0 |
4 | Bank of East Asia | 10.9 | 10.4 | 0.5 |
5 | Fubon Bank | 5.1 | 4.8 | 0.4 |
6 | ICBC | 6.1 | 5.8 | 0.3 |
7 | DBS Bank | 15.2 | 15.0 | 0.3 |
8 | China CITIC Bank | 6.8 | 6.6 | 0.2 |
Chart shows the Consideration score among the Aware audience from September 1st, 2020 to August 31st, 2021, compared to September 1st, 2019 to August 31st, 2020
YouGov Finance Purchase Funnel Rankings 2021 in Hong Kong: Payment Systems
Octopus Card leads the Payment Systems list in Hong Kong this year with a score of 58.8. Visa came in second with a score of 52.9. In third and fourth position were PayPal and Alipay HK respectively scoring 39.5 and 38.5. Rounding out the top five PayMe scored 36.9.
| YOUGOV FINANCE PURCHASE FUNNEL RANKINGS 2021 IN HONG KONG: PAYMENT SYSTEMS | ||
|---|---|---|
Rank | Brand Name | Score |
1 | Octopus Card | 58.8 |
2 | Visa | 52.9 |
3 | PayPal | 39.5 |
4 | Alipay HK | 38.5 |
5 | PayMe | 36.9 |
6 | Mastercard | 36.3 |
7 | WeChat Pay | 27.7 |
8 | Apple Pay | 21.5 |
9 | Union Pay | 16.7 |
10 | American Express | 14.3 |
Chart shows the brands with the highest Consideration score among the Aware audience between September 1st, 2020 to August 31st, 2021
The rankings data is drawn from our daily brand tracking tool BrandIndex, which continuously measures the public’s perception of brands within the financial services sector around the globe. Want to know more? To see your brand’s ranking please click here and one of our experts will be in touch.
Methodology
The brands in YouGov Finance Purchase Funnel Rankings are ranked based on their Consideration score among consumers who are Aware of each brand. This allows us to show which brands are most successful at converting Aware consumers into ones that would consider the brand when next in-market.
To identify the Aware audience we ask, ‘Which of the following brands have you ever heard of? Please select all that apply.’ And in follow up we ask the Consideration question, ‘When you are in the market next to use a product or service from a Financial Services brand, which of the following would you consider?’. The questions vary slightly from this template in different sub-sectors and regions.
The rankings chart shows the brands with the highest average Consideration score between 1st September 2020 - 31st August 2021. The improver chart ranks the brands with the highest increase in Consideration, comparing scores from the previous 12-month period. To be included in the improver list, the variance must be positive. The scores are representative of Aware consumers within the general population of adults 18+ (some regions are online or urban representative).
All scores listed have been rounded to a single decimal place; however, we have used additional precision to assign ranks. All brands have been tracked for at least 6 months to be included in the rankings and at least 18 months to be included in the improver rankings (as well as being currently tracked).