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 Monday. 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 per cent 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.
The formal investigation opens a new chapter in the European Union's campaign to address the dominance of US tech firms with Google, Facebook and Apple also regular targets of regulators in Brussels.
The Chinese video app TikTok is no longer available in Google and Apple app stores in India after a state court prohibited its downloads, a setback for developer Bytedance Technology's efforts to tap users in a key market.
Smart speakers add a level of convenience to daily life, but there are also some privacy issues associated with using them. According to a recent report, it’s not just your Alexa smart speaker listening to you — Amazon employees may be listening, too.
Retail companies in the United States (US) are using promotions to boost sales during the weak shopping season. Amazon.com’s Prime Day is now a major marketing opportunity and shopping event in the annual calendar for other US retail
Rescue workers in Japan searched for the missing on Wednesday as the death toll from one of the worst typhoons to hit the country rose to 74, public broadcaster NHK said, many drowned by flooding after scores of rivers burst their banks.
The two New Zealand police officers who managed to arrest a man accused of killing 51 people at two mosques were given a bravery award on Wednesday.
Hong Kong leader Carrie Lam was forced to halt her annual policy address on Wednesday after some lawmakers disrupted the session, shouting and jeering as she started her speech.