Amazon dethrones Google as top global brand: survey

Author: 
AFP
ID: 
1560226962007329800
Tue, 2019-06-11 04:21

LONDON: 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 Tuesday.
The brand value of Amazon surged by 52 percent to $315 billion,
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.
The agency, which is owned by British advertising group WPP, added
that Amazon showed “little sign” of any slowdown in its
growth.
The top ten companies were once again dominated by US firms, with
Apple on $309.5 billion, Google on $309 billion and Microsoft on
$251 billion.
Payments specialist Visa had the fifth biggest value at almost $178
billion, while social networking group Facebook was the sixth
largest at nearly $159 billion.
For the first time, Alibaba beat Tencent to become the most
valuable Chinese brand.
E-commerce leader Alibaba was the seventh biggest at $131.2
billion, up two places on the previous year.
Internet giant Tencent fell three spots to stand at number eight
with a value of $130.9 billion.
In a sign of Asia’s growing importance, 23 of the top 100 brands
were Asian — including 15 from China.
The leading brands have embraced “disruptive” business models
to beat traditional rivals in the technology, finance and retail
sectors.
“Amazon’s phenomenal brand value growth of almost $108 billion
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.

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Source: FS – All-News-Economy
Amazon dethrones Google as top global brand: survey