The recent spree of events have become fruitful for billionaire Jeff Bezos’s e-commerce company Amazon, which has become the most valued brand, overtaking Apple, last year’s topper. Amazon claimed the top spot in spite of its brand value diminishing by 15 per cent this year from $350.3 billion to $299.3 billion. Only one Indian brand – Tata Group – made it to the top 100 valued companies list.
According to Brand Finance’s Global 500 2023 list, even though Amazon regained its position as No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. The quality of customer service at Amazon has fallen – while delivery times have lengthened. So, consumers have become less likely to recommend Amazon to others.
On the other hand, iPhone maker Apple, stooped to the second slot to be ranked the world’s second most valuable brand (brand value down by 16% to $297.5 billion from $355.1 billion). This recent decrease in brand value relates to a fall in estimated revenue with supply chain disruptions and a limited labour market expected to limit the supply of its marquee hardware products.
Image Credits: Jason
Below is a list of the Top 10 most valuable brands according to the report:
1. Amazon- Worth $299.3 billion (brand value down 7% from $350.3 billion)
2. Apple- Worth $297.5 billion (brand value down 16% from $355.1 billion)
3. Google-Worth $281.4 billion (brand value up 7% from $263.4 billion)
4. Microsoft-Worth $191.6 billion (brand value up 4% from $184.2 billion)
5. Walmart-Worth $113.8 billion (brand value up 2% from $111.9 billion)
6. Samsung Group-Worth $99.7 billion (brand value down 7% from $107.3 billion)
7. ICBC-Worth $69.5 billion (brand value down 7% from $75.1 billion)
8. Verizon-Worth $67.4 billion (brand value down 3% from $69.6 billion)
9. Tesla-Worth $66.2 billion (brand value up 44% from $46 billion)
10.TikTok/Douyin-Worth $65.7 billion (brand value up 11% from $59 billion)
Few of the gainers on the list include electric car manufacturer Tesla (with a brand value up 44% to $66.2 billion) and BYD (up 57% to $10.1 billion). Social media company Instagram’s brand value also spiked from 42% to $47.4 billion while LinkedIn’s value was up 49% to $15.5 billion.
India’s Top-Valued Brands
More than 150-year-old Tata Group is the only Indian brand to feature in the top 100. The behemoth’s brand value jumped up to 69 from 78 last year. Moreover, reasons for the ranking going up were not available.
Out of Indian IT tech giants, Infosys jumped to the 150th slot from 158 last year. As per the report, Infosys has seen an 84% increase in its brand value since 2020.
David Haigh, CEO and chairman of Brand Finance, said: “Infosys has recently celebrated four decades of success and through these years, they have built a brand of excellence with a brand value that keeps growing as Infosys storms up the rankings.”
