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30 Jun, 2020 12:30 30 Jun, 2020 12:30

Amazon brand value reaches $400bn as popularity rises during pandemic

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Amazon’s brand worth rose by almost a third in one year to $415.9bn, maintaining its position as the most valuable brand on the planet.

According to Kantar, who published the fresh rankings on Tuesday, the internet retailer's brand was boosted by the increase in popularity and sales in the wake of the coronavirus pandemic.

Although the pandemic triggered sharp falls in stocks prices and many businesses were already struggling as far as back as March, e-commerce companies such as Amazon had seen a surge in sales during April.

“Although consumer reliance on home delivery during the pandemic stretched Amazon’s logistics capabilities, it also affirmed Amazon’s strength,” the Kantar report stated.

Apple took second place, with its brand valued at $352.2bn followed by Microsoft at $326.5bn, which this year overtook Google to become the world’s third-most-valuable brand.

“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.”

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Important Legal Notice about News Sources

 

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.