Amazon has officially replaced Google as the most valuable brand in the world, according to Brand Finance, a brand consultancy firm. The firm looks at marketing investment, stakeholder investment, and business performance to help it measure how much each brand contributes to the company.
Their 500-strong ranking shows how overwhelmingly digital of an age we live in, with technology accounting for the same amount of value as telecoms, retail, and automobiles combined. In fact, a majority of the top 10 most valuable companies are part of the tech sector.
Here are top 10 most valuable brands, according to the firm’s rankings:
Percentage change from last year: +24%
Last year’s rank: 10
Since 2008, China’s share of global brand value has increased from 3% to 15 %, with ICBC (Industrial and Commercial Bank of China) holding its 2017 rank of the 10th most valuable brand in the world.
Percentage change from last year: -1%
Last year’s rank: 8
Walmart is losing value compared to 2017, with the future looking uncertain as the brand started 2018 by closing more than 60 of its Sam’s Club stores.
Percentage change from last year: 7
Last year’s rank: -5%
Verizon is down 5% from where it was last year, and a big part of that is because it’s losing customers to smaller companies like T-mobile.
Percentage change from last year: +6%
Last year’s rank: 5
Microsoft has had a strong start to 2018, in large part due to its cloud service which is only second to Amazon’s. Despite this, it still is significantly less valuable than its top competitors like Apple and Google.
Brand value: $82.4 billion
Percentage change from last year: -5%
Last year’s rank: 4
Like Verizon, AT&T is also down 5% from what it was worth in 2017, and its likely for the same reasons too. To counter this, it’s expanding their entertainment sector.
Brand value: $89.7 billion
Percentage change from last year: +45%
Last year’s rank: 9
Facebook is up 45% from last year when it was #9 on the list of most valuable brands. The brand is benefitting from the dominance of digital content, according to the report.
Percentage change from last year: +39%
Last year’s rank: 6
Samsung held the #6 spot last year and is climbing the ranks to become one of the most powerful tech companies in the world. In addition to the Galaxy phones, Samsung offers tablets, TVs, home appliances, home security, and more.
Percentage change from last year: +10%
Last year’s rank: 1
Google dropped down from #1 to #3, despite better-than-expected performance in 2017. At the end of the day, Google is struggling to keep up with the #1 brand because, while it champions internet search and cloud technology, it doesn’t focus as much of its energy on other sectors, according to the report.
Percentage change from last year: +37%
Last year’s rank: 2
Apple defends the #2 ranking when it comes to brand value, rebounding after a 27% drop in 2017. Nearly two-thirds of Apple revenue comes from the iPhone, making it essential for the phones to sell well if Apple wants to hold onto the #2 spot again next year, the report states.
Percentage change from last year: +42%
Last year’s rank: 3
Up 47% from its 2017 value, Amazon is the largest online business by market capitalization and revenue. Beyond being an online retailer, it produces cloud infrastructure and electronics and is present in music and video streaming. In addition, the 2017 $13.7 billion Whole Foods acquisition took Amazon from the digital to the physical realm.