Amazon’s brand value was able to grow because of its acquisitions, customer service and maintaining a diverse set of products and services, a news release about the study said.
“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,” Doreen Wang, Kantar’s Global Head of BrandZ, said in an online statement.
“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,” Wang added. “Using their consumer experience and expertise, these brands are crossing over into the business services sector, creating new opportunities for brand growth.”
Apple and Google had previously held the top two spots for the most valuable brand last year, with Amazon in third place. This year, Apple remained in second with a brand value of $309.5 billion and Google fell from first to third, this year valued at $309 billion.
