Amazon tops brand rankings, Asos falls behind

Rakshnna Pattabiraman

30th Jun 2023

Amazon continues to reign as the “world’s most valuable retail brand”, according to brand valuation consultancy, Brand Finance.

Since the beginning of the pandemic, Amazon’s brand value has increased 36 per cent to a value of US$299.3 billion.

Likewise, in an annual survey of over 150,000 consumers across 36 countries, Amazon has scored the highest sustainability perception value of any brand as it continues to make strides in its renewable energy initiatives.

Meanwhile, investor sentiment towards fast fashion companies such as Asos and Boohoo has declined as their growth during the lockdown era failed to translate into post-pandemic profitability.

Fast-fashion online retailer Asos’s brand value is down by 41 per cent to US$1.2 billion due to a “significant loss” in fashion sales due to rising living costs.

Richard Haigh, MD of Brand Finance, said the “sheer dominance” of Amazon “cannot be ignored”.

“The brand’s relentless pursuit of customer-centric innovation has not only transformed the way we shop but has challenged and overhauled traditional business models.

“The retail giant must now look to maintain its competitive edge amid the rapidly evolving landscape, especially as eyes are on the brand now more than ever.”

• Further reading: Amazon duped millions of consumers into enrolling in Prime, says US FTC