Wed. Nov 20th, 2019

Amazon is now a bigger brand than Google – report

Amazon's brand is worth more than GoogleThe brand value of Amazon is now great than both Google and Apple, according to a recent report published by market research agency Kantor.

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According to global market research conducted by Kantar, Amazon has overtaken Google as the world’s most valuable brand.

Amazon bigger than Google

The report, titled 2019 Top BrandZ, claims the value of Amazon’s brand grew by a 52 percent to $315 billion.

This helped them move two places from third in the previous list to become the world’s most valuable brand by leapfrogging both Google and Apple, who were in second place.

The Seattle-based retailer 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… have allowed Amazon to continuously accelerate its brand value growth,” said Kantar.

Top 10 brands in the world

The top 10 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.

Disruption the key to success

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.”

“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.

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