The World’s Most Valuable Non-US Retail Brand
Alibaba is surely chasing Amazon closely. And now it gets closer than ever. Based on a rank released on Tuesday, Alibaba is on the second place of BradZ Top 75 Most Valuable Global Retail Brands. It is also the world’s most valuable non-U.S. retail brand.
The Hong Kong based company worth $131.2 billion in brand value by 2018. It raised up to 48% from the previous year. In the same list, last year, Alibaba only made it to the third place.
Amazon, Alibaba’s biggest rival, still placed on the first rank. McDonalds, Home Depot, Nike, Louis Vuitton and Starbucks are also on the top seven of the list. Global marketing and communications group WPP and research and consulting firm Kantar are behind the supposed list.
Watch out Amazon. Alibaba is close behind!
Though still behind, Alibaba might overtake Amazon sooner. The Chinese giant has the biggest online and mobile commerce business. It has also made refreshing breakthroughs the competitor has not.
The Asian e-commerce previously secured a partnership with Starbucks. With this partnership, Alibaba made Starbucks available in all of its properties. It also made a better model of super-fast delivery in the logistic section.
Previously, the American e-commerce has admitted its defeat in China. It announced temporary closing of its service in the country. Amazon would not be available in China anymore. Even though it has been more than 15 years since Amazon launched its service in China.
This is because Alibaba holds most of the market share in China. Through JD and Tmall, it has more than 55% of market share. Therefore Amazon had to spend more money on the marketing. And it seems that it decided that it had spend enough.
To make it worse for Amazon, Alibaba opened its platform to foreign sellers. People from Italy, Russia, Spain and Turkey can sell their stuff in the platform. As well as buying products from Chinese sellers.