Amazon remains the world’s most valuable brand, increasing its worth by almost a third to $415.9 billion compared to last year, according to a ranking by consultancy Kantar, CNBC informed.
The annual BrandZ Top 100 Most Valuable Global Brands ranks companies by combining their market capitalization with consumer research of over 3.8 million people around the world.
Apple came in at second on the list, valued at $352.2 billion followed by Microsoft at $326.5 billion, which this year overtook Google to become the world’s third-most-valuable brand. This rise is due in part to the increased use of its Microsoft Teams collaboration software as employees worked from home during the coronavirus pandemic, according to the report.
While news of the coronavirus outbreak caused stocks to plunge in March, the share prices of online businesses like Amazon, which deliver consumer staples saw a surge in April as brick-and-mortar stores shuttered, CNBC adds.
Alibaba is ranked sixth in the BrandZ list, valued at $152.5 billion, up 16% on the year prior, while JD.com’s brand valuation went up 24% to $25.5 billion, according to Kantar.
“Brands that enabled people to navigate life with digital devices, and achieve convenience and comfort, generally increased in value or at least outperformed their category,” the report said.
Brands are also better placed to survive this financial crisis than they were in 2008-2009, according to David Roth, chair of BrandZ.
“Businesses understand the importance of investing in brand-building and are stronger and more resilient as a result,” he told CNBC.
Chinese video-sharing app TikTok is the highest new entry in the top 100 list, with a valuation of $16.9 billion and ranking higher than brands such as KFC, Uber and Adidas.