Amazon has overtaken Walmart as the world’s number one retail brand in a study of the top 100 most valuable brands. The brandZ Top 100 Most Valuable Global Brands study by Millward Brown Optimor measured brand equity based on interviews with over 2 million consumers around the world.
Amazon’s brand value rose by 37% $37.6 billion, demonstrating the popularity and reach of internet shopping and the power of e-retailing. Walmart dropped to second place with a brand value of $37.3 billion, while Tesco remained at number three with a brand value of $21.8 billion. Carrefour was in fourth place with a brand value of $13.8 billion.
Peter Walshe, Global Brands Director at Millward Brown commented: “Amazon’s growth in brand recognition and value highlights the changes in shopping behaviour as consumers emerged from the recession more sceptical, more savvy and more empowered by digital technology, enabling them to search for the best prices armed with trusted reviews. Consumers made more considered, rather than conspicuous, purchases.”