Business

Amazon reclaims title of most valuable brand

US-based e-commerce giant regains title despite 15% drop in brand value to $299.3B, Brand Finance’s 2023 report shows

The US-based e-commerce giant Amazon reclaimed the title of the most valuable brand, according to a new report.

According to the report released by Brand Finance, a leading valuation and strategy consultancy group, Amazon regained the title despite a 15% drop in its brand value to $299.3 billion.

Amazon was the most valuable brand in the 2020 report with a value of $220.8 billion but lost ground to Apple in 2021 and 2022.

In the 2023 report, Apple was in second place with a value of $297.5 billion,down by 16.2% on a yearly basis.

In third place is Google with $281.4 billion, followed by Microsoft ($191.6 billion) and Walmart ($113.8 billion).

Among the top 10 firms included Samsung, ICBC, Verizon, Tesla and TikTok.

Amazon reclaims title of most valuable brand 2

Among the top 10 companies, seven are from the US, two are from China and one is from South Korea.

David Haigh, the chairman and CEO of Brand Finance, said: “Technology brands across the world have lost significant value in response to shifting demand patterns.

“Inflation has affected brands across many sectors, but as consumer habits partially revert to pre-pandemic patterns, demand for the services of tech brands has been hit particularly hard.”

The US dominated the list of 500 most valuable brands with 201 brands ($3.98 trillion), followed by China with 79 brands ($1.43 trillion), Germany with 24 ($479.6 billion), Japan with 32 ($425.5 billion), and France with 31 ($331.2 billion).

Source
aa

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button