Amazon has become the world’s most valuable brand after dethroning Google, showed a key survey on Tuesday.
According to a 2019 100 Top BrandZ report by global market research agency Kantar, Amazon’s brand value surged by 52% to $315bn.
“Amazon’s phenomenal brand value growth of almost $108bn in the last year demonstrates how brands are now less anchored to individual categories and regions,” said Kantar’s global head of BrandZ, Doreen Wang,
“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.”
Amazon hiked from third to first place placing Apple on the second spot while pushing Google further down to the third spot.
“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 superior customer services and a disruptive business model in a statement.
Apple: $309.5bn (R4.60-trillion)
Google: $309bn (R4.59-trillion)
Microsoft: $251bn (R3.73-trillion)
Visa: $178bn (R2.64-trillion)
Facebook: $159bn (R2.36-trillion)
Alibaba: $131.2bn (R1.95-trillion)
Tencent: $130.9bn (R1.94-trillion)