share

Amazon overtakes Google and Apple to be the world's biggest brand

Amazon overtakes Google and Apple to be the world's biggest brand

Amazon has overtaken Google and Apple to become the world's most valuable brand after its value jumped 52% since last year to reach $315 billion.



The online retail giant has moved ahead of its rivals as it expands in areas like entertainment and smart speakers, global market research agency Kantar said in its 2019 100 Top BrandZ reports.

The Seattle-based retail company, 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.

Apple came in at a second place, valued at $309.5 billion, with Google moving from first place to third place in 2019, with a value of $309 billion.

Google and Apple had spent a combined 12 years at the top of the list, with Google taking the top spot in 2018. 
Sundar Pichai became Google's chief executive in 2015, with the company moving from first place to third place in 2019
Doreen Wang, Kantar’s Global Head of BrandZ, said: '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.

'The boundaries are blurring as technology fluency allows brands, such as Amazon, Google, and Alibaba, to offer a range of services across multiple consumer touchpoints.

She claimed that in regions such as Asia, consumers are more technology-enabled and brands are playing an increasing role in people's lives. 

Amazon has managed to increase investment in several of its businesses, including self-driving car start-up Aurora and electric truck company Rivian.

Last year, it purchased an online pharmacy called PillPack for $753 million and last month led a $575 million funding round into food delivery company Deliveroo.

Amazon is also becoming a key player in the logistics and shipping industry. In February it announced the expansion of Amazon Air to include 50 planes and several new regional hubs, including a $1.5 billion hub opening in northern Kentucky in 2021.

According to Wolfe Research, Amazon now handles its own shipping for 26 percent of all online orders.

THE WORLD'S TOP TEN MOST VALUABLE BRANDS IN 2019
Ranking            Worth (bn)     Change %

1 Amazon            315.5              52

2 Apple                309.5              3

3 Google               309                2

4 Microsoft           251.2             25

5 Visa                   177.9              22

6 Facebook           159                -2

7 Alibaba             131.2              16

8 Tencent             130.9              -27

9 McDonald's    130.4                  3

10 AT&T               108.4              2

In a December press release, Amazon said that it can 'transport hundreds of thousands of packages per day' with its new dedicated air network.

It said that its fleet of planes can make 'two-day shipping possible almost anywhere in the U.S.'

Facebook remained at number six while, for the first time, e-commerce and retail giant Alibaba became the most valuable Chinese brand.

Alibaba moved up two places to number seven and growing 16% to $131.2 billion.

As other social media platforms face challenges in terms of trust and desirability, Instagram (no.44, $28.2 billion), now with over 1 billion users worldwide, emerged as this year’s fastest riser climbing 47 places with a massive 95% growth in brand value.

Lululemon, the yoga-inspired, athletic apparel company was the second fastest riser, stretching to +77% growth year-on-year to $6.92 billion. 

Kantar said that, despite the economic uncertainty surrounding the US and China trade tariffs, almost a third of a trillion dollars ($328 billion) of value was added to the BrandZ Top 100 Global ranking over the last year.

Chinese companies continued their dominance of the overall global market. 


Comments

share

COMMENT

Popular

MUST READ: How I managed to stand against 'Jungle justice -Good Citizen

President Buhari appoints 4 new Group Executive Directors for NNPC