The latest report from marketing research institute Kantar highlights the “strongest gain in power” among global retail brands. The report, called the BrandZ Top 75 Most Valuable Global Retail Brands Ranking, reveals that Amazon remains in the top spot with a brand value of $415.9 billion, a 32% increase from the previous year. Alibaba and McDonald’s also maintain their positions on the podium. The top 10 retailers in the ranking have all seen an average increase of 16.4% in their brand value, solidifying their dominance in the industry.
In terms of luxury brands, Louis Vuitton has gained one spot and now ranks fifth with a brand value of $51.8 billion, boosted by the opening of a new flagship store in Seoul and successful collaborations. Chanel has dropped one place to ninth position with a brand value of $36.1 billion, while Hermes remains in tenth place with $33 billion. Gucci and Rolex have also shown strong performances, with Gucci climbing to 12th place and Rolex to 33rd place.
The report emphasizes that economic strength is not the sole factor influencing brand value. The ranking considers both financial performance and the opinions of millions of consumers worldwide. The COVID-19 pandemic has underscored the importance of brands’ ability to adapt and provide value to customers. The report highlights the challenges faced by “silent” brands in regaining visibility, especially during the early stages of recovery in China. Brands that have demonstrated their relevance and usefulness during the crisis will be best positioned to strengthen their relationships with their target audiences.
According to Graham Staplehurst, Director of International Strategy at BrandZ, the value of a brand is not solely derived from financial performance but also from its reputation in the eyes of consumers. Brands that have shown their ability to provide assistance during the crisis, effectively manage their teams, and comply with government and health measures will be critical to their survival. These brands have the opportunity to strengthen relationships with their target audiences both during the recovery phase and in the long term.
To read the full report, click [here](report link).
