Amazon, a massive online retailer based in Seattle, Washington, has dethroned Google as the most valuable brand in the world, a survey revealed Tuesday.
Jeff Bezos’ Amazon has knocked Google out of the number one spot after its brand value surged by 52 percent to $315.5 billion. That is according to Kantar’s 2019 100 Top BrandZ. Kantar is one of the world’s leading global market research agencies.
California-based Google ranked third in the survey, while Apple held on to the second spot. Apple and Google were valued at $309.5 billion and $309 billion, respectively. Both companies have been at the top list for a combined 12 years.
Kantar said Amazon’s key acquisitions, superior customer services, and a disruptive business model, are the main drivers for the company’s sustainable brand growth. The consulting company said, “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”.
8 U.S Companies Join the Top 10
Aside from Amazon, Apple, and Google, 5 other U.S. firms have also joined the survey’s top 10 list. Coming in at number four was Microsoft ($251.2 billion), while Visa ($177.9 billion) and Facebook ($159 billion) took the fifth and sixth spot, respectively.
Two Chinese companies have also joined the top 10 list. For the first time, e-commerce giant Alibaba ($131.2 billion) overtook Tencent ($130.9 billion) for the seventh spot. The latter took the eight spot.
Fast-food giant McDonald’s ($130.4 billion) took the ninth place, while internet service provider AT&T ($108.4 billion) got the tenth place.
Kantar’s BrandZ is an annual study of the views and opinions of people who use and buy brands.
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