Amazon: from bookstore to the big four
Jul 26, 2019
Making it into BrandZ’s ‘Top 100 Most Valuable Global Brands’ is the benchmark for success in business. This brand-ranking platform identifies the world’s most influential and profitable names every year – and for the past 12, the top spot has remained well-guarded by global giants Apple and Google.
That all changed when 2019’s results were announced at the New York Stock Exchange last month. Thanks to a year-on-year increase of 52%, and a total brand-value of $315.5-billion, Amazon officially became the world’s most valuable brand.
But how did Amazon dethrone these two high-tech leaders? BrandZ put it down to "smart acquisitions that brought new revenue streams, outstanding customer service and [their] ability to
stay ahead of competitors by offering a diverse ‘ecosystem’ of products and services
Amazon hasn’t stayed still since it was established in 1994. A rapid 25-year evolution has seen this company grow from an online bookshop run from a single garage, to one of the world’s leading online retailers – backed by a cleverly procured range of products and services that now cover 15 different areas.
Owner Jeff Bezos began by adding electronic sales to Amazon’s inventory, introducing convenient services like home grocery delivery, and eventually, developing innovative solutions that helped this brand become an authority in the world of audio, from Audible and Amazon Music, to the ever-popular virtual assistant, Alexa.
Outstanding customer service:
New products are just one part of Amazon’s big plan – since day one, their main aim was ‘to become the earth’s most customer-centric company’, and with this brand promise came
a need to step back from sales and start thinking like a customer.
This unique approach was responsible for the development of two services that have changed the way we shop online today. The introduction of One Click and Prime meant that from now on, shopping with Amazon would be simple, affordable, and surprisingly fast – a formula that hadn’t been possible before.
Staying ahead of the competition:
A better online shopping experience was one of many ‘firsts’ for Amazon. They continued to break the ecommerce boundaries and stay ahead of the competition by constantly expanding into new markets.
Last year, they acquired supermarket chain Whole Foods – a partnership that should allow them to gain a better insight into grocery-buying habits and further tailor their shopping experience around customers. And this theme of convenience continues with cashier-free Amazon Go stores, robots for the home, delivery drones, and even developments in the healthcare sector to lower costs across America.
These changes are proof that Amazon isn’t interested in progression for progression’s sake. This tech guru stays ahead of the competition because the customer has been at their core since the beginning.
It seems that Amazon has all areas covered when it comes to continuous growth, and that it’ll maintain its place as a BrandZ ‘Top 100 Most Valuable Global Brand’ in the coming years – but as a leader in audio services and products, there’s still another way this tech titan could use sound to fuel their success. An exclusively composed Brand-Sound-Track™ developed around their values (their innovation, or focus on the customer) would create a sound synonymous with their philosophy, and in turn, build a better connection with consumers across countless platforms hold. Add to that a sonic logo – capturing the essence of their identity in a few simple notes – and you have a business that’s instantly recognisable… even with your eyes closed.