New data from Brand Finance reveals global retail brand values surge 9% to $1.3 trillion
LONDON, 8 April 2025 - Retail brands are seeing robust growth, particularly in e-commerce, according to a new report from Brand Finance, the world's leading brand valuation consultancy. The total brand value of the world’s top 100 most valuable retail brands has risen 9% to USD1.3 trillion in 2025. 36 US brands contribute 68% of the total ranking value, amounting to USD856.1 billion.
Global e-commerce titan Amazon remains the world’s most valuable retail brand for the tenth consecutive year. In 2025, its brand value grew 15% to USD356.4 billion, making it the fourth most valuable brand in the world, according to Brand Finance’s Global 500 ranking. American retail powerhouse Walmart is the fastest-growing brand in the top 10, surging 42% to USD137.2 billion. The brand faces reputational challenges, however, including a class action lawsuit over deceptive pricing, which could impact long-term consumer trust.
Australia’s Kmart is the fastest-growing brand in the sector globally, with a 79% increase in brand value to USD2.2 billion. Exceptional performance in consumer brand strength metrics — scoring perfect 10s for being perceived as a ‘preferred brand’, ‘brand I love’, ‘reputation’, and ‘brand I know well’ — has also contributed to its high Brand Strength Index (BSI) score of 88.9 out of 100.
Swedish grocery chain ICA has entered the ranking for the first time and claimed the title of the world’s strongest retail brand, with a brand value of USD1.8 billion and a BSI score of 93.2 out of 100. Brand Finance data highlights its extremely high scores for ‘meets my needs’ and ‘brand I know well’ among domestic consumers.
The global e-commerce market is estimated to reach USD6.8 trillion in 2025, with projections rising to nearly USD8 trillion by 2027. Key players like China’s JD.com (brand value up 5% to USD18.8 billion) and Meituan (brand value up 37% to USD11.7 billion), Korea’s Coupang (brand value up 11% to USD8.0 billion), and Argentina’s MercadoLibre (brand value up 3% to USD4.7 billion) have all recorded increases in brand value, underscoring the rapid growth of digital commerce.
Conversely, retail brands in the pharmaceutical sector, such as Walgreens (brand value down 6% to USD14.4 billion) and Boots (brand value down 24% to USD2.4 billion) have experienced declines in brand value as e-commerce reshapes consumer purchasing habits.
Annie Brown, Valuation Director, Brand Finance commented:
“Pharmacies are the latest in a chain of specialist retailers facing the challenges of replacement by e-commerce. From bookshops to electronics stores, Amazon has changed the game making it harder for traditional bricks and mortar specialists to survive, unless they significantly adapt and leverage their potential advantage in customer experience. With Sycamore Partners set to acquire Walgreens Boots Alliance, announced in March 2025, we are excited to see how Walgreens and Boots will evolve their brands and customer experience offers as a result of its private equity injection."
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
