Amazon has dwarfed hi-tech juggernauts Google and Apple to emerge as the world’s most valuable brand, according to a survey. The company is now valued at $315 billion, a spike of 52% compared to last year, reported Kantar, in its 2019’s 100 Top BrandZ report.
Amazon rocketed from third to first place, replacing Google, which is now in the third place and Apple that maintained its position at second.
Since its inception in 1994 the company was founded in Seattle in the garage of Jeff Bezos. Amazon garnered high-praise for its strategic acquisitions, exceptional customer service, and an ever-evolving & disruptive business model, Kantar reported.
“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.
British advertising group WPP owned Kantar was firm in stating that Amazon is showing no signs of slowing down.
Here is a list of some of the topmost valuable companies in 2019 along with their market value –
- Amazon – $315 billion
- Apple – $309.5 billion
- Google – $309 billion
- Microsoft – $251 billion
- Visa – $178 billion
- Facebook – $159 billion
- Alibaba – $131.2 billion
- Tencent – $130. 9 billion
While Alibaba moved up two spots, Tencent fell by three. North American businesses ruled the roost whereas 23 brands (of the top 100) were Asian with 15 just from China.
The survey highlighted that companies adaptive to disruptive technologies and business models are the ones at the top in market value, defeating their traditional rivals in sectors such as technology, finance, and retail.
“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.
Companies such as Amazon, Google, and Alibaba are at a vantage point right now due to the robust technological capabilities that allow them to offer a myriad range of services across multiple customer 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,” reported Kantar.
Brand value is measured upon financial results and global consumer standings of the surveyed organizations.