Jeff Bezos’ Amazon is stepping up to become the most valued brand in the world. Here’s everything you need to know.
Amazon takes over Apple to become the most valued brand
Bezos’ e-commerce company, Amazon is now the world’s most valued brand after overtaking Apple. The e-commerce site bagged the spot despite the brand value falling by 15 percent. As per the Global 500 2023 list by brand Finance, despite being at the top spot, Amazon’s value fell by over $50 billion. Additionally, its rating saw a slip from AAA+ to AAAA. The quality of customer service is reduced but the delivery times rose. Hence, as per the report, consumers are becoming less likely to recommend it.
Apple slipped a spot in the list to become the second most valued in the world. This year, its brand value fell by 16 percent from $355.1 billion to $297.5 billion. This year’s slip is related to a fall in the forecast with a disruption in the supply chain and the constrain in the labor market. The Tata Group is the only Indian brand to make it to the top 100 valued companies in the world. The 180-year-old company saw a rise from 78 to 69. Another major Indian brand was Infosys with a spike to 150 from last year 158.
List of top 10 companies as per the Global 500 2023 Report
TikTok or Doujyin is in tenth place with a brand worth $65.7 billion. Tesla, in the ninth position with a worth of $66.2 billion saw a 44 percent rise from $46 billion last year. US brand Verizon followed Tesla, with a brand worth $67.4 billion. ICBC took the seventh position with a brand worth $69.5 billion. Korean tech giant Samsung Group comes sixth on the list with a brand worth $99.7 billion. Samsung saw a seven percent reduction in its value from last year. Walmart is the fifth with its brand adding up to a total of $113.8 billion. Tech-giant Microsoft is in the fourth spot with a brand worth $191.6 billion. Google came third with a brand worth $281.4 billion. Apple with a brand worth $297.5 billion took the second spot. Finally, Amazon is at the top spot and is worth $299.3 billion.