Amazon becomes world’s most valuable brand, beating Google and Apple
The report comes amid calls for antitrust investigations into big tech.
- Amazon's brand is valued at $315.5 billion, according to BrandZ Top 100 Most Valuable Global Brand ranking 2019.
- Apple comes second at $309.5 billion, and Google is third at $309 billion.
- "There is something going on in terms of monopoly," President Donald Trump said on Monday, referring to big tech companies.
With a brand value of $315.5 billion, Amazon is now more valuable than Apple and Google, according to BrandZ Top 100 Most Valuable Global Brand ranking 2019.
"It was not a surprise, but it was not inevitable," wrote BrandZ CEO David Roth, adding that few could have predicted the company's success when it was just an online bookseller in the 1990s. Roth added: "With its devotion to removing friction from every part of the customer experience, Amazon has changed what consumers expect from brands. With its pioneering efforts in cloud computing, Amazon has changed what businesses expect from their suppliers and partners."
Apple comes second at $309.5 billion, and Google is third at $309 billion. BrandZ bases its annual report on companies' financial performance, using data from Kantar Worldpanel, and interviews with millions of consumers.
One reason Amazon tops the list is because it's dominating a variety of retail categories, Doreen Wang, Kantar's global head of BrandZ, told CNBC.
"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," she said. "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."
Amazon has been positioning itself to become much more than an online retailer. In the past year, the company has invested billions of dollars in new ventures, including self-driving car start-up Aurora, online pharmacy PillPack, food-delivery company Deliveroo, a new headquarters, electric truck start-up Rivian, and Project Kuiper, which would provide high-speed internet service via thousands of satellites.
"Brands need to understand the value this type of model can create and should embrace its approach to be successful in the future," Roth told CNBC.
But some — namely, President Donald Trump — have expressed concern over the mammoth success of companies like Amazon, Google, Apple and Facebook.
"There is something going on in terms of monopoly," Trump told CNBC on Monday.
Last week, reports suggested that the Federal Trade Commission and the Department of Justice could soon open antitrust investigations into big tech companies. This increased scrutiny seems to be coming from both sides of the aisle.
Amazon responded to Warren: "And sellers aren't being 'knocked out' - they're seeing record sales every year."
Young people could even end up less anxiety-ridden, thanks to newfound confidence
- The coronavirus pandemic may have a silver lining: It shows how insanely resourceful kids really are.
- Let Grow, a non-profit promoting independence as a critical part of childhood, ran an "Independence Challenge" essay contest for kids. Here are a few of the amazing essays that came in.
- Download Let Grow's free Independence Kit with ideas for kids.
Philosophers like to present their works as if everything before it was wrong. Sometimes, they even say they have ended the need for more philosophy. So, what happens when somebody realizes they were mistaken?
Sometimes philosophers are wrong and admitting that you could be wrong is a big part of being a real philosopher. While most philosophers make minor adjustments to their arguments to correct for mistakes, others make large shifts in their thinking. Here, we have four philosophers who went back on what they said earlier in often radical ways.
We must rethink the "chemical imbalance" theory of mental health.
- A new review found that withdrawal symptoms from antidepressants and antipsychotics can last for over a year.
- Side effects from SSRIs, SNRIs, and antipsychotics last longer than benzodiazepines like Valium or Prozac.
- The global antidepressant market is expected to reach $28.6 billion this year.
Or is doubt a self-fulfilling prophecy?