Amazon has been named as the world’s most valuable retail brand, with an estimated value of $98.98 billion USD.
The BrandZ Top 25 Most Valuable Global Retail Brands report, put together by Kantar Millward Brown, said the online retail giant has continually pushed the boundaries and expanded into new areas, subsequently increasing its value.
Amazon’s efforts to expand its dominance across consumer categories also had lots of momentum throughout 2016.
The report also showed that Amazon’s brand value shot up by 59% year-on-year, out-performing other major names like Ikea, Alibaba and US-based retail giants Home Depot, Costco and Walmart.
Other retailers which featured in the top 25 include Aldi, Marks & Spencer, Boots parent company Walgreens and Lidl.
The BrandZ report said: “The Amazon business is now as much a technology and media company as it is a retailer.
“It offers music streaming by subscription, was behind 16 Emmy nominations for original content in 2016, and Amazon Studios has released its first original movie, Chi-Raq, directed by Spike Lee.”
