US retail monster Amazon has moved past hi-tech titans Apple and Google to turn into the world’s most profitable brand, a key survey demonstrated Tuesday. The brand estimation of Amazon surged by 52% to $315 billion, worldwide market research agency Kantar said in its 2019 100 Top BrandZ reports.
Amazon bounced from 3rd to 1st place to eclipse Google — which slid from 1st to 3rd place with Apple clutching on to the 2nd spot. The Seattle-based retail behemoth, established by Jeff Bezos in his carport in 1994, topped the table gratitude to key acquisitions, superior clients services, and a disruptive plan of action, Kantar said in a statement.
“Amazon’s brilliant acquisitions, that have prompted to new revenue streams, superb customer service provision and its capacity to remain ahead of its rivals by offering a different ecosystem of products and services, have enabled Amazon to continuously quicken its brand value growth,” said Kantar.
The agency, which is owned by British advertising group WPP, included that Amazon indicated “little sign” of any slowdown in its development. The top 10 companies were once again overwhelmed by US firms, with Apple on $309.5 billion, Google on $309 billion and Microsoft on $251 billion.
Payments experts Visa had the 5th biggest value at nearly $178 billion, while social networking group Facebook was the 6th largest at almost $159 billion. For the first time, Alibaba beat Tencent to turn into the most significant Chinese brand. E-commerce pioneer Alibaba was the 7th biggest at $131.2 billion, up 2 places in the past year.
Internet giant Tencent fell 3 spots to remain at number 8 with an estimation of $130.9 billion. In a sign of Asia’s growing importance, 23 of the main 100 brands were Asian — including 15 from China. The leading brands have grasped “problematic” business models to beat conventional rivals in the technology, finance, and retail sectors.
“Amazon’s sensational brand value growth of nearly $108 billion in the previous year shows how brands are presently less secured to individual categories and regions,” said Doreen Wang, Kantar’s global head of BrandZ.
“The limits are blurring as technology fluency permits brands, for example, Amazon, Google, and Alibaba, to offer a scope of services over numerous consumer touchpoints.
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“Using their customer experience and expertise, these brands are traverse into the business services sector, making new opportunities for brand development.
“Problematic ecosystem models are thriving in regions, for example, Asia, where buyers are more technology-empowered and where brands are coordinating themselves into each part of people’s daily lives.” Brand value on the key survey is determined on the basis of the companies’ financial presentation and their standing among buyers across the globe.