US retail giant Amazon has become the world's most valuable brand jumping from third to first place, thus passing ahead of hi-tech titans Apple and Google.
Amazon's brand value rose by 52% to $315 billion, global market research agency, Kantar, said in its 100 Top BrandZ report for 2019.
"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," Kantar explained.
American companies dominated the top ten ranking, with a brand value of $309.5 billion for Apple, $309 billion for Google, $251 billion for Microsoft, $178 billion for Visa and $159 billion for Facebook.
China's brand and e-commerce leader, Alibaba, was ranked seventh with a brand value equal to $131.2 billion, and Internet giant Tencent came in the eighth place with a value of $130.9 billion.
23 out of the top 100 brands were Asian, including 15 from China.
"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 ," Kantar's global head of BrandZ, Doreen Wang, said.
"Using their consumer experience and expertise, these brands are crossing over into the business services sector, creating new opportunities for brand growth,” Wang noted.
“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,” Wang added.