For the eighth consecutive year, UPS Inc. has been named the world’s most valuable logistics brand by Brand Finance, a brand valuation consultancy.
According to a report published Tuesday by the London-based branding firm, UPS’ (NYSE: UPS) brand value in 2022 increased by 28% year over year to reach a value of $38.5 billion. FedEx Corp. (NYSE: FDX) was second at $26.6 billion. Uber Technologies Inc. (NYSE: UBER) was third at $22.8 billion.
The consultancy said that UPS’ brand value benefited by growing demand for, and awareness of, its products and services. UPS was also recognized favorably for its work in delivering COVID-19 vaccines and related supplies around the world.
The findings come from surveys of thousands of respondents who are both logistics practitioners and members of the general public. Based on the responses, Brand Finance creates a relative strength score between zero and 100. UPS scored 79.6%. The firm used that score to establish a “royalty rate” assessment for UPS. The assessment determined how much an outside party would have to pay to use a brand into perpetuity.
Brand Finance analyzes approximately 5,000 companies across 70 industries. The ranking of logistics companies includes those in the freight and passenger fields.
While UPS may have been the most valuable logistics brand, it wasn’t considered the strongest. That distinction went to Hong Kong’s Mass Transit Railway (MTR) at 83%. However, UPS’ brand was perceived as far more valuable because its size dwarfs that of MTR.
Food delivery firms Delivery Hero and Just Eat Takeaway were tied for the fastest-growing logistics brands, according to the report. The brand value of each increased 53% year over year, the report found.