Amazon tops Apple and Google as world's most valuable corporate brand
- Amazon has surpassed Apple and Google for the first time in a ranking of the world's most valuable corporate brands.
- Other brands ranked in the top 10: Microsoft, Visa, Facebook, Alibaba, Tencent, McDonald's and AT&T.
Amazon has surpassed Apple and Google for the first time to become the world's most valuable corporate brand, according to a new ranking of global companies.
Over the past year, the total value of Amazon's brand surged 52% to more than $315 billion — up $108 billion from the previous year — as the online retailer continued to broaden its offerings for consumers, according to a report by research firm Kantar.
That jump was enough to end Apple's and Google's dozen years in which they traded places as the most valuable brand. Apple's brand value rose 3% in the last year to $309.5 billion, while Google's brand grew 2% to $309 billion, found Kantar, a unit of advertising agency WPP.
"With its devotion to removing friction from every part of the customer experience, Amazon has changed what consumers expect from brands," David Roth, CEO of The Store WPP EMEA, wrote in the report. "With its pioneering efforts in cloud computing, Amazon has changed what businesses expect from their suppliers and partners."
Kantar calculated the value of companies' brand by multiplying their earnings by the strength and growth potential of a firm's equity. Other brands to make the top 10: Microsoft, Visa, Facebook, Alibaba, Tencent, McDonald's and AT&T.
Amazon, which famously has eschewed profit in favor of a growth strategy, has relentlessly used data-driven insights to create streamlined and personalized experiences for its customers, such as by rolling out one-day shipping for Prime members. It also continued to make investments into new businesses, including in electric automaker Rivian.
It is also expanding in the business services sector, having invested early in cloud computing and leading in the category with Amazon Web Services.
Not everything Amazon touches turns to gold, however. The company is closing its U.S. restaurant delivery service, a 4-year-old business that failed to take off amid fierce competition from Uber Eats, DoorDash and others.
The service, called Amazon Restaurants, offered delivery in more than 20 cities in the U.S. but never captured more than 2% of the field's market share, experts said. It had expanded into the United Kingdom, but Amazon shut down the service in that country late last year. The closure of the U.S. business will happen on June 24.
Still, the corporate parent, Amazon.com Inc., continues has shown interest in delivering meals to diners' doorsteps. Last month, it bought a stake in British food delivery company Deliveroo, whose kangaroo logo is a common sight on bicycles and scooters in Britain.
