Brand Value Evaluation of China’s Time-Honored Brands in the Context of Digital Economy Driven by the Internet of Things

It takes a decade to build a business and a century to nurture a brand. As treasures of traditional culture and national spirit, Chinese time-honored brands hold immense significance in promoting modernization with Chinese characteristics and strengthening cultural confidence. In the wave of the digital economy, Chinese time-honored brands need to transcend tradition and tap into the new value brought by digital media and interaction. Taking Tongqinglou as an example, this study innovatively reassesses its market, commercial, cultural, and historical values by integrating the seven elements of branding with its cultural and historical backgrounds. By introducing factors such as digital interaction, technological innovation, and brand diversification and optimizing the Interbrand model using the TF-IDF (Term Frequency-Inverse Document Frequency) algorithm and triangular intuitionistic fuzzy decision-making method, the research reveals that Tongqinglou’s brand role index is 20.63%, with its value accounting for 21.71% of the total market value. The annual revenue is 79.0265 million yuan, and the created value amounts to as much as 1.431 billion yuan. These results align with the brand value assessment standards of Renmin University of China.