The report was launched at the World Economic Forum in Davos today.
A failure to meet expectations has driven down Baidu’s and Uber’s brand values, but Tesla and Instagram are racing ahead as the world’s fastest-growing brands.
Four out of five telecoms brands have lost value, with AT&T falling the fastest.
Following the largest initial public offering in history, Saudi Aramco is the most valuable new entrant to the 2020 ranking, claiming 24th place globally.
Ferrari retains pole position as the world’s strongest brand with a Brand Strength Index (BSI) score of 94.1 out of 100 and an elite AAA+ rating.
Following 18% growth from US$187.9 bn last year, Amazon’s brand value has now reached US$220.8bn, over US$60 billion more than Google’s and US$80 billion more than Apple’s.
The world’s largest online marketplace, Amazon has also branched out into cloud computing, artificial intelligence, consumer electronics, digital streaming, logistics, and is looking to enter other industries.
The majority of Amazon’s revenue still comes from retail. In November 2019, it was announced that Nike would no longer be selling its merchandise on the platform as it intends to develop its own direct sales channels.
Amazon may have to contend with other big brands following Nike’s lead, which would undermine its reputation as the ‘Everything Store’.
Amazon’s international business faces environmentalist opposition in Europe and a backlash from local retailers in India, as well as saturation of China’s e-commerce market by Alibaba and its subsidiaries.
David Haigh, CEO of Brand Finance, commented: “The disrupter of the entire retail ecosystem, the brand that boasts the highest brand value ever, Amazon continues to impress across imperishable consumer truths: value, convenience, and choice.”