Amazon named the world’s most valuable brand in 2023: Brand Finance
Amazon is once again the world’s most valuable brand, according to a new report from brand valuation consultancy, Brand Finance.
Despite its brand value falling 15% this year from US$350.3 billion to US$299.3 billion, along with its rating from AAA+ to AAA, Amazon is still on top value-wise. The e-commerce giant is followed by Apple, who is now the world’s second most valuable brand with its brand value falling 16% from US$355.1 billion to US$297.5 billion.
Other tech-focused brands to lose value in 2022 include Samsung Group down 7% to US$99.7 billion; alibaba.com down 56% to US$10.0 billion; Facebook down 42% to US$59.0 billion; and WeChat sliding 19% to US$50.2 billion.
“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,” said David Haigh, chairman and CEO of Brand Finance.
“Additionally, disrupted supply chains, labour shortages, and greater obstacles to financing have left their mark.”
On the positive side, Instagram’s brand value was up 42% to US$47.4 billion, as well as LinkedIn with a brand value jump of 49% to US$15.5 billion. Lastly, electric car manufacturers Tesla equally saw brand value go up 44% to US$66.2 billion, as did BYD with brand value up 57% to US$10.1 billion, as the demand for electric cars continues to grow.
Copyright © 2023 FashionNetwork.com All rights reserved.