E-commerce, in general, dominated the list, with Amazon, Alibaba, and JD.com all ranking in the top 10.
Amazon is the most valuable brand in the world — but Walmart and Alibaba aren't far behind.
Brand Finance's 500-strong ranking shows how overwhelmingly digital of an age we live in, with a number of e-commerce brands taking top spots in the ranking. Home improvement stores like Home Depot, Lowe's, and Ikea also have retained spots in the top 10, with Home Depot's value up 12% from last year.
Target saw the greatest drop in value, down 20% from last year. According to Brand Finance, the brands that dropped in value are still trying to adapt to the digitalization of the industry, while online-only brands like Amazon and Alibaba are on the rise.
Here are top 10 most valuable brands, according to the firm's rankings:
JD.com, a Chinese online retail giant, is growing extraordinarily fast — last year, the company didn't even hold a spot in the top 10 most valuable brands. In June, Google announced it would be investing $550 million in JD.com.
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6. CVS Health
Brand value: $20.6 billion
Percentage change from last year: -12%
Last year's rank: 6
CVS Health's value is down, but the company, which is in the midst of a merger with Aetna, recently reported same-store sales were up by 1.6%.
Brand value: $24.35 billion
Percentage change from last year: +1%
Last year's rank: 5
Ikea remains consistent with the almost the same value as last year. The brand was ranked fifth last year as well.
4. Home Depot
Brand value: $33.74 billion
Percentage change from last year: +12%
Last year's rank: 4
Home Depot holds onto the fouth spot from last year. Home Depot has 2,284 stores in North America, and appears to be the store of choice for millennials. In a Bank of America survey of 1,000 millennials, reported by US News, 64% said Home Depot was their top choice for home-improvement shopping.
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Brand value: $54.92 billion
Percentage change from last year: +58%
Last year's rank: 3
The Chinese company Alibaba.com is ranked in the same spot as last year, but the e-commerce giants value is up nearly 60%.
Brand value: $61.48 billion
Percentage change from last year: -1%
Last year's rank: 2
While Walmart defends the number two ranking, its value remains roughly the same as last year.
Brand value: $150.81 billion
Percentage change from last year: +42%
Last year's rank: 3
Up 47% from its 2017 value, Amazon is the largest online business by market capitalization and revenue. Beyond being an online retailer, it produces cloud infrastructure and electronics and is present in music and video streaming. In addition, the 2017 $13.7 billion Whole Foods acquisition took Amazon from the digital to the physical realm.