US retail giant Amazon has moved past hi-tech titans Apple and Google to become the world’s most valuable brand, a key survey showed on June 10 2019. Image:DENIS CHARLET / AFP
US retail giant Amazon has moved past hi-tech titans Apple and Google to become the world’s most valuable brand, a key survey showed on Tuesday.
The brand value of Amazon surged by 52% to $315bn (R4.68-trillion), global market research agency Kantar said in its 2019 100 Top BrandZ report.
Amazon jumped from third to first place to eclipse Google – which slid from first to third place with Apple holding on to the second spot.
The Seattle-based retail behemoth, founded by Jeff Bezos in his garage in 1994, topped the table thanks to key acquisitions, superior customer services and a disruptive business model, Kantar said in a statement.
“Amazon’s smart acquisitions, that have led to new revenue streams, excellent customer service provision and its ability to stay ahead of its competitors by offering a diverse ecosystem of products and services, have allowed Amazon to continuously accelerate its brand value growth,” said Kantar.
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“Amazon’s phenomenal brand value growth of almost $108bn in the last year demonstrates how brands are now less anchored to individual categories and regions,” said Doreen Wang, Kantar’s global head of BrandZ.
“The boundaries are blurring as technology fluency allow brands, such as Amazon, Google and Alibaba, to offer a range of services across multiple consumer touchpoints.
“Using their consumer experience and expertise, these brands are crossing over into the business services sector, creating new opportunities for brand growth.
“Disruptive ecosystem models are flourishing in regions such as Asia, where consumers are more technology-enabled and where brands are integrating themselves into every aspect of people’s daily lives.”
Brand value on the key survey is calculated on the basis of the companies’ financial performance and their standing among consumers across the globe.