A new report states that the most valuable brand in the world isn’t Apple and it isn’t Google, the two companies that held the top spot for the last 12 years.
It’s Amazon. On Tuesday, WPP and data consultant Kantar released the BrandZ Top Most Valuable Global Brands, which estimated the value of the Amazon brand at $315.5 billion. As Fox Business reported, a news release about the study quoted Doreen Wang, Kantar’s Global Head of BrandZ, saying, “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 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.” Apple, which finished second last year, saw its brand value estimated at $309.5 billion and Google, on top last year, was valued at $309 billion. Microsoft was valued at $251.2 billion; Visa at $177.9 billion; Facebook at $158.9 billion; Alibaba at $131.2 billion; Tencent at $130.8 billion; McDonald’s at $130.3 billion and AT&T at $108.3 billion.
David Roth, CEO of The Store WPP EMEA and Asia and Chairman of BrandZ, told Fox Business, “We’re seeing a move from individual product and service brands to a new era of highly-disruptive ecosystems. Brands need to understand the value this type of model can create and should embrace its approach to be successful in the future.”
The BrandZ report advises: The notion of purpose has moved on. Higher purpose is fine when it is relevant to the brand and feels genuine to the consumer, not bolted on. But people do not expect all brands to save the world. What people do expect is for a brand to do what it does well, and to do it responsibly and ethically. That means conducting all aspects of the business — production, supply chain, relationships with employees and customers — ethically and honestly. In mid-May, the Associated Press reported that Amazon would offer employees up to $10,000 in startup costs who quit their jobs and started their own business helping the company deliver packages. The Daily Wire reported, “Amazon made the announcement Monday as the company is looking into how it can offer one-day delivery for Prime members, down from the current delivery time of two days.” AP noted, “Amazon says it will cover up to $10,000 in startup costs for employees who are accepted into the program and leave their jobs. The company says it will also pay them three months’ worth of their salary.”