GLOBAL: Amazon, the US e-commerce giant, has been named as the most valuable retail brand in the world, according to new rankings that are dominated by US brands.
The BrandZ Top 25 Most Valuable Global Retail Brands 2016/2017 report, which was produced by Kantar and Millward Brown, assigned Amazon with a value of $98.98bn.
That represented a 59% positive change in brand value compared with the same period a year ago and placed the company comfortably ahead of its nearest rivals.
Alibaba, the Chinese e-commerce group, came in second with a brand value of $49.29bn, down 26% over the same period, followed by the Home Depot ($36.44bn, +32%), Walmart ($27.27bn, -23%) and IKEA ($18.08bn, +6%).
The overall value of the top 25 retail brands rose 7% between 2015 and 2016, and the report also noted that at least three digital-first brands made it into the top 10. As well as Amazon and Alibaba, this included eBay, in tenth, which has been valued at $11.51bn.
The remaining 19 retail brands were Costco Wholesale, Lowe's, Aldi, CVS Pharmacy, JD.com, Walgreens, 7 Eleven, Target, Tesco, Kroger, Carrefour, Woolworths, Lidl, Macy's, Whole Foods, Nordstrom, Auchan, M&S, and Sam's Club. Tesco (#15) and M&S (#24) were the only two British retail brands in the global rankings.
Although Amazon reported lower-than-expected profits in Q3 2016, the report highlighted the company's drive to look to new geographies and new categories in which to trade.
"Its scale and its strong reputation for customer service and fulfilment make it a serious player in all aspects of retailing, including fresh grocery," the report said.
"While it is known as an e-commerce site, at its heart Amazon is a technology business. It is now disrupting the entertainment and IT sectors in the way it disrupted physical retail stores a decade ago," it continued. "As Amazon moves into business services, private-label grocery, electronics, FMCGs and the Internet of Things, it is difficult to imagine a business sector in which Amazon could not find a place."
Data sourced from Kantar, Millward Brown; additional content by Warc staff