I told you so! The $220 million name that means Amazon is top dog among world brands

PUBLISHED: Mon, 04 May 2020 14:51:53 GMT
Share

By Chris Bishop

Amazon has been voted top dog in the competitive world of brands in the Brand Finance Retail 50 survey –  told you so, says the company’s representative in Africa.

The online shopping giant has been cashing in on the COVID-19 lockdown thanks to people’s inability to leave their home and has increased its brand share by 17.5 per cent to be worth $220,791,000. In second place is the US store chain Walmart, up 14.2 per cent with a brand worth $77,520. Industry experts say Walmart was a bit slow off the mark with online sales, but made up for it over the last year.

“Speaking at a conference in South Africa over a decade ago,  I said I thought Amazon would become the biggest retail brand  in the world. I was then told from the floor that I was wrong, Amazon was not a retail brand. It reminds me that many years ago I was told gently by a top CEO that I couldn’t be right all the time. Very good advice, but there is no harm in trying! Larry Page, a founder of Google, once said that the main reason brands failed is that they were unable to see the future,” says Jeremy Sampson, the CEO of Brand Finance Africa.

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.