From Latin America to the world. Two regional retail giants lead the 2023 Brand Finance Retail 100 ranking.
On one side is the Mexican OXXO, which presents the fastest global growth in brand value, and on the other is the Argentine Mercado Libre, which ranks as the most solid among the companies in the industry.
With a 56% increase in its capitalization, up to US$ 2,300 million, the Aztec firm entered to compete with giants such as Decathlon (30%). According to Brand Finance, progress has been driven by its capillarity, its internationalization and strong presence in the Mexican and Latin American markets.
“Mexican retail brand OXXO (whose brand value increased by 56% to US$2.3 billion) enters the ranking of the 100 retailers as the fastest growing brand this year,” said the British marketing consultancy.
In this regard, he stressed that its parent, Femsa, “launched a huge expansion plan for OXXO last year, with the goal of increasing the number of stores in Latin America by up to half over the next decade.”
While, La Albiceleste achieved a brand strength score of 89.4 out of 100 points, which ranked it as the strongest in the world.
The market value of the trans-Andean company reached US$3.7 billion, according to Brand Finance, a decrease of 1% compared to 2022.
In the listing report it was noted that the e-commerce giant “has earned the trust of consumers through its secure transaction platform, MercadoPago, which processed more than US$100 billion in transactions in 2022.”
And he highlighted the efforts of Mercado Libre to increase and expand its investments in advertising, “further improving the recognition and familiarity of its brand among consumers.”
The plans of the Mexican owners of Oxxo in Latin America
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In a statement, Brand Finance singled out the US giant Amazon as the world’s most valuable retailer, with a brand value of $299.3 billion. This number doubles the value of Walmart (US$ 113,800 million).
In this way, the company led by Jeff Bezos has once again become the undisputed leader in the global industry with a 36% increase in value since the start of the pandemic.
Regarding Walmart, he indicated that remains in second place and that “has benefited from changes in consumer spending habits in the post-pandemic world, while the giant has also expanded its advertising initiatives through Walmart Connect, with the goal of strengthening relationships between brands and customers across multiple channels.”
In third place was Home Depot, whose brand value rose 8% to $61.1 billion as it has also been building on its strong reputation for quality and customer satisfaction, as well as reinforcing its sustainability initiatives, according to Brand Finance.
Mercado Libre, one of the 100 most influential companies in the world by Time magazine
2023-06-28 19:00:20
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