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Amazon voted top retail brand ahead of Tesco
Online retailer 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 global brand strategy consultancy Millward Brown Optimor measures brand equity based on interviews with over two million consumers worldwide.
This year, Amazon’s brand value rose by 37% to US$37.6 billion, demonstrating the popularity and reach of internet shopping and the power of online retail.
Walmart dropped to second place with a brand value of US$37.3bn, while Tesco remained at number three with a brand value of US$21.8bn. French hypermarket chain Carrefour came in fourth place with a brand value of US$13.8bn.
Peter Walshe, global brands director at Millward Brown said: “Amazon’s growth in brand recognition and value highlights the changes in shopping behaviour as consumers emerged from the recession more sceptical, savvy and empowered by digital technology, enabling them to search for the best prices armed with trusted reviews.
“Consumers made more considered, rather than conspicuous purchases,” Walshe added.
Lucy Shaw, 16.05.2011