US retail giant Amazon has gone past Apple and Google hi-tech titans to become the most valuable brand in the world, a key survey on Tuesday showed.
The Rise Of Amazon:
Amazon’s brand value rose from 52% to $315 billion, said Kantar, a worldwide market study agency, in its 2019 100 Top BrandZ survey. Amazon jumped to eclipse Google from third to first place— sliding from first to third with Apple holding on to the second place. Due to important purchases, superior customer services and a disruptive business model, the Seattle-based retail behemoth, established by Jeff Bezos in his garage in 1994, overcame the table, Kantar said in a declaration.
“Amazon’s intelligent purchases, which have led to fresh income streams, outstanding customer service delivery and its capacity to remain ahead of its rivals by providing a varied product and service ecosystem, have enabled Amazon to accelerate its brand value development continually,” said Kantar.
Market Value of top companies (Amazon, Apple, Google and Microsoft):
Amazon has dethroned all the major giants including Google and Apple (courtesy Arab News)
The agency, owned by the British advertising company WPP, added that Amazon showed “small sign” of any growth slowdown. The top ten firms were again dominated by U.S. firms, with $309.5 billion from Apple, $309 billion from Google, and $251 billion from Microsoft.
Payment specialist Visa had the fifth-largest value at nearly $178 billion, while Facebook was the sixth-largest social networking group at nearly $159 billion.
Asian Giants in the list (Alibaba And Tencent):
Alibaba defeated Tencent for the first time to become the most precious Chinese brand.
Alibaba was the seventh-largest e-commerce leader at $131.2 billion, up to two positions from the past year. Internet giant Tencent dropped three places to $130.9 billion in number eight.
In a sign of increasing significance for Asia, Asian were 23 of the top 100 products— including 15 from China.
The major brands have adopted “disruptive” company models in the technology, finance and retail industries to beat traditional competitors.
“Over the past year, Amazon’s phenomenal brand value development of nearly $108 billion shows how brands are now less attached to individual categories and areas,” said Doreen Wang, BrandZ’s worldwide director of Kantar.
“The limits are blurring as technology fluency allows brands like Amazon, Google and Alibaba to deliver a variety of services across various customer touchpoints.” Using their customer experience and knowledge, these brands are moving into the company services industry, generating fresh brand development possibilities.
“Disruptive ecosystem models are thriving in areas such as Asia, where customers are more technologically capable and where products integrate into every aspect of people’s daily life.”
The brand value of the main study is calculated on the grounds of the economic performance of businesses and their position among customers worldwide.
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