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Amazon is the world’s most valuable retail brand, report
Amazon has once again been named the world’s most valuable retail brand, with a brand value of $299.3 billion, according to brand valuation consultancy, Brand Finance.
This is more than double the brand value of Walmart (brand value up 2% to US$113.8 billion). Amazon’s brand value has increased 36% since the beginning of the COVID-19 pandemic and is the world’s most valuable brand across all sectors, according to Brand Finance’s Global 500 2023 report.
As part of its analysis, Brand Finance assesses the role that specific brand attributes play in driving overall brand value. One such attribute is sustainability. Brand Finance assesses how sustainable specific brands are perceived to be through its annual survey of over 150,000 consumers across 36 countries, represented by a ‘Sustainability Perceptions Score’. The value linked to sustainability perceptions, the ‘Sustainability Perceptions Value’, is then calculated for each brand.
Amazon has the highest sustainability perceptions value of any brand, US$19.9 billion. Amazon has been making strides is in its renewable energy initiatives. As the largest corporate buyer of renewable energy globally, Amazon is committed to powering all its operations with 100% renewable energy by 2025. To achieve this goal, the brand has already announced more than 400 projects as of January 2023, highlighting its notable progress in this endeavour.
Richard Haigh, Managing Director, Brand Finance: “The sheer dominance of Amazon in the retail sector – and beyond – cannot be ignored. The brand’s relentless pursuit of customer-centric innovation has not only transformed the way we shop but has challenged and overhauled traditional business models. The retail giant must now look to maintain its competitive edge amid the rapidly evolving landscape, especially as eyes are on the brand now more than ever.”
Mexican retail brand OXXO (brand value up 56% to US$2.3 billion) enters the retail 100 ranking as the fastest-growing brand this year. Its parent-brand Femsa launched an enormous expansion plan for OXXO last year, aiming to increase the number of stores across Latin America by as much as half over the next decade.
The full report can be accessed here
