JD.com and Alibaba are dominating brand growth

, Internet, Retail, Tarjetas y Pagos Electrónicos, Telecomunicaciones

Retail report from Kantar and WPP as cited by Retail Dive. E-commerce giants grew the fastest in terms of percentage growth — Chinese retailers JD.com and Alibaba hold the first and second spots on the list of top 20 fastest growing brands, and Amazon holds the thirteenth spot.Percentage Growth in Brand ValueThe fastest growing brands have surged at a rapid rate due to a pattern of constant technological expansion and close attention to customer preferences.
JD.com shot up a whopping 94% to claim the title of fastest grower over the last year, raising its value from $10.7 billion in 2017 to $20.9 billion in 2018.
The e-tailer has been using technology to stay ahead of consumer needs in several ways over the last year, including opening several new types of high-tech stores and pushing forward plans to build a drone network to drastically reduce the costs of making deliveries to rural areas of China. JD.com has also been forging partnerships with companies like Walmart and Chinese supermarket chain Yonghui to expand its physical retail capability and obtain greater amounts of consumer data.
Alibaba rallied an equally impressive 92%, bringing its value from $59.1 billion in 2017 to $113.4 billion in 2018. Similar to its rival JD.com, the e-tailer has been innovating with technology to keep up with consumer preferences, expanding its high-tech Hema grocery stores and acquiring fashion wholesale startup Ordre for its virtual reality (VR) fashion capabilities.

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In addition to retail, Alibaba has also been growing its cloud computing business and has several partnerships of its own to increase the amount of consumer data it has access to, such as those with Sun Art Retail Group and home electronics chain Suning.
Amazon grew 49%, increasing in value from $139.2 billion to $207.5 billion.Although it’s the thirteenth fastest grower, it’s worth noting that Amazon has the highest value of all the companies listed. Amazon’s technological innovations in the past year are many, including expanding its cashierless Amazon Go physical stores and rolling out a feature that lets customers track their packages on a map in real time. Additionally, its web service, AWS, remains the dominant player in the cloud solutions business.
The success of these e-tailers highlights several key areas of focus for growing brand value. Despite the differences in these companies, they share a few similar characteristics that have been helping drive their growth. They all use cutting-edge technology to offer new and innovative services to their customers, focus on consumer preferences and feedback to more accurately cater to the needs of customers, and command several channels beyond pure e-commerce or brick-and-mortar retail.
Emphasizing the development of these characteristics however possible may help other brands, even those in industries outside of retail, such as banking or pharmaceuticals, boost their growth as well by attracting customers with relevant products and services that can be conveniently attained.

Source: http://www.businessinsider.com

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