Marketing has always been a very essential term since the last few decades and it has shown the wonders it can do to a brand’s image after the pandemic crisis. A company’s brand image can play an essential role in its long term survival. One of the companies which have effectively outperformed even during the pandemic is Amazon. It has retained its first position of being the most valuable brand in the crisis.
Being an E-commerce giant, Amazon along with its competitors Walmart, Alibaba, and JD have efficiently contributed to the fast growth of the retail sector. As the customers hesitated to step out of their houses, they enjoyed the comfort of delivery at their doorstep even during the pandemic. The E-commerce sector has contributed enormously to the retail business which grew by 21% this year. Consumer packed goods also saw a surge as the customers preference changed from traveling and dine-out to small family parties at home. This sector saw an 8.2% increase in sales in the United States in March.
TikTok’s rapid expansion is a result of its constant innovation and creativity. Tech-giants like Google, Amazon, and Apple have made been constantly innovating to bring ease to the lives of the people and their high brand image is like the icing on the cake. Facebook saw a steep decline in its brand value by 7%, as a result of the platform being misused for spreading misinformation. It has been boycotted by a large number of marketers.
Mastercard witnessed an 18% increase in its brand value which brought it to the top 10 of the BrandZ’s list. It strategically created an emotional connection with its customers by fitting into their lifestyle. Their initiative as supported by the financial services marketer’s strong performance and growing brand equity. Hence, Innovation and creativity are the most essential traits of the tech-giants who have been constantly using it has their path to success. It has not only helped them retain their customers but also helped them get fruitful results even when the other businesses are facing a challenge of survival.
