Travel brands gain as experience economy accelerates

India’s ‘experience economy’ is booming, fuelled by a consumer shift toward spending on memorable experiences rather than material goods, especially among younger generations. This was evident in Kantar BrandZ’s recent report of the Top 100 Most Valuable Indian Brands, where travel brands were among the top risers.

Luxury hotel brand Taj (rising 55% to USD 2.9-billion); India’s largest airline, IndiGo (rising 42% to USD 5.1-billion), and online travel leader MakeMyTrip (rising 45% to USD 2.4-billion) all posted significant gains. 

Automotive manufacturer Mahindra (USD 5.5-billion) also increased its brand value by 53%, capitalising on rising demand for experience-led services such as off-roading drives and road trips tailored to SUV enthusiasts and adventure seekers.  

Zomato, which earned the title of fastest-rising brand for the second consecutive year, is another example of how experience is unlocking brand value. The company has expanded beyond food delivery into adjacent lifestyle categories, such as ticketing and curated experiences, through District by Zomato dine-out app. District by Zomato recently partnered with Kotak Mahindra Bank to launch curated, invitation-only culinary experiences.

Even as Indian consumers tighten their budgets, they are keen for innovations that ‘level up’ their experience of the ‘good life’, the report shared.

India’s most valuable brands are now worth USD 523.5-billion, equal to roughly 13% of the nation’s GDP. This year’s ranking expanded to include 100 brands, with total brand value rising 6% year-on-year and 34 brands increasing their value. 

18 newcomers entered India’s new Top 100 ranking. UltraTech Cement (USD 14.5-billion), which entered a newly recognised category of Materials brands, saw its brand value rise through emotional storytelling, expert guidance and one-stop retail solutions. Retail chain, Westside (USD 3.3-billion) and affordable fashion brand, Zudio (USD 2.5-billion), also entered the ranking for the first time this year.   

Built by meaningful difference 
HDFC retained its crown as India’s most valuable brand, rising 18% to nearly USD 45-billion. Since the first BrandZ India Report was released in 2014, HDFC Bank has seen its brand value increase by 377%. 

Rounding out the top five entrants in the 2025 list were Tata Consultancy Services (USD 44.2-billion), Airtel (USD 41.1-billion), Infosys (USD 25.5-billion), and ICICI Bank (USD 20.6-billion). India’s top 10 brands together accounted for 47% of the ranking’s total value. 

Commenting on the results, Deepender Rana, executive managing director, South Asia, Kantar, said, “While the overall brand value growth has slowed to 6%, India’s ten fastest growing brands grew by an average of 42%, which is an astounding seven times faster. This outperformance is largely due to investment in driving meaningful difference, innovating and staying close to the needs of the consumers.” 

“Our analysis confirms that brands can outperform market conditions, even in the face of headwinds, when they are built on a foundation of deep consumer understanding,” added Soumya Mohanty, managing director and chief solutions officer, South Asia, Kantar. “Understanding how consumers experience and interpret your brand is no longer optional; it’s a strategic imperative.” 

Source: Campaign India