Every year, Brand Finance releases a report detailing some of the most valuable brands on the planet. It includes various different categories within retail itself, rounding out with the overarching best in all of retail selections. This year has some surprises mixed with expected outcomes.
Firmly at the top, it names Amazon as the most valuable retailer worldwide with a total valuation of $106.4 billion. It stands as a fifty-three percent increase from $69.6 billion last year. The brand’s following them in order are Wal-Mart Stores Inc., Alibaba Group and The Home Depot.
The author of the report states that Amazon is “growing strongly as it continues to both reshape the retail market and to capture an ever larger share of it.”
“Amazon has stated it will create 100,000 jobs in the U.S. over the next 18 months. Such confidence suggests that Amazon may well become the most valuable brand in the world in 2018,” he elaborates, also praising the expansion of their grocery service, Amazon Fresh.
For American consumers, the inclusion of Alibaba Group may come as somewhat surprising, but it shouldn’t. Most of their business revolves around China, utilizing online retail similarly to Amazon in that market.
The study comments on their rise to $34.8 billion from last year’s $17.9 billion, calling Alibaba “this year’s fastest-growing retail brand.” In addition, they emphasized the prominence of the online market, both in China and globally.
Both brands highlight an extended market that still continues to take shape, in tern hurting retail stores in the process. As mentioned in the report, the growth of Amazon’s grocery service, Amazon Fresh, is a sign of this.
The idea of purchasing fresh cooking and food items was a farsighted dream years earlier. Similarly, the same can be said for the concept of online retail on Amazon’s scale prior to it’s inception. In hindsight, that growth is an illustration of how much further both services can still progress.
If not, the $100 billion in annual sales that Alibaba now commands seems powerful enough to suffice.