Amazon regains its position as the most valuable brand in the world at $299.3 billion

According to brand valuation consultancy Brand Finance’s report, “Global 500 2023”, while Amazon is back at No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. This is as consumers evaluate it more harshly in the post-pandemic world.

According to a new report, Amazon has reclaimed the top spot as the world’s most valuable brand despite its brand value falling 15 percent this year from $350.3 billion to $299.3 billion.

According to brand valuation consultancy Brand Finance’s report, “Global 500 2023”, while Amazon is back at No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. This is as consumers evaluate it more harshly in the post-pandemic world.

Apple (brand value down 16 percent to $297.5 billion from $355.1 billion) has, meanwhile, slipped to second slot to be ranked the world’s second most valuable brand. This year’s fall in brand value relates to a fall in forecast revenue with supply chain disruptions and a constrained labour market expected to limit the supply of its marquee hardware products. In all 48 tech brands featured in the ranking, two down from the 50 rated in 2022. This is after Snapchat and Twitter dropped out.

The other tech-focused brands to lose value include Samsung Group (brand value down 7 percent to $99.7 billion), Alibaba.com (down 56 percent to $10.0 billion), Facebook (down 42 percent to $59.0 billion), and WeChat (down 19 percent to $50.2 billion).

There were those that gained, too. Instagram (brand value up 42 percent to $47.4 billion) and LinkedIn (up 49 percent to $15.5 billion) have grown in the tech sector, largely due to a well-executed strategy to commercialize their services. Some of the other big gainers include electric car manufacturers Tesla (brand value up 44 percent to $66.2 billion) and BYD (up 57 percent to $10.1 billion) as demand grows for electric cars as part of a broader transition to a low-carbon economy.

The India story-: 

From India, Tata Group’s brand value ranking went up to 69 from 78 last year. However, reasons for the ranking going up were not available. Among Indian IT services players, Infosys jumped to the 150th slot from 158 last year. Infosys has seen an 84 percent increase in its brand value since 2020, said the report.

Read More-Amazon to cut over 18,000 jobs; e-commerce, HR divisions to be impacted