Brand Finance has released its report on 5,000 of the world's biggest brands. It announces that the retail sector is currently being led by American and European brands that have bounced back better from post-COVID conditions. Amazon takes the number one spot for the most valuable retail brand valued at $350 billion, reports Brand Finance.
“Retail brands globally have been quick to adapt to rapidly changing buying and selling patterns resulting in incredible brand value growth across leading brands. The sector tackled shortages caused by the pandemic by innovating with logistics and technology.” Said Richard Haigh, Managing Director of Brand Finance.
Amazon leads the way with a slick customer service experience on its website and apps, along with the brand's own delivery logistics division that ensures the supply chain has limited disruptions. Walmart comes in as the second most valuable brand, at $111.9 billion, followed by The Home Depot in third, and Taobao and TMALL from China in fourth and fifth respectively. Target and JD also broke into the top ten most valuable brands sitting in eighth and ninth place.
The American department store Burlington was named the fastest-growing retail brand, with a year-on-year growth of 80 percent. While bunnings warehouse made the list as the fourth fastest-growing brand with a year-on-year growth of 52 percent
Other brands to note include Japanese 7-Eleven, American home improvement and gardening retailer Leroy Merlin and Canadian convenience store Circle K which all saw a brand value increase of over 50 percent.
The full report can be found on Brand Finance's website.