Billionaire Jeff Bezos’s e-commerce company Amazon has become the most valued brand, overtaking Apple, last year’s topper. Amazon has reclaimed the top spot as the world’s most valuable brand despite its brand value falling 15 per cent 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.
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iPhone maker Apple slipped to the second slot to be ranked the world’s second most valuable brand (brand value down 16% to $297.5 billion from $355.1 billion). 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. Among all, 48 tech brands featured in the ranking, which is two less than the earlier 50 rated in 2022. This is after Snapchat and Twitter dropped out.
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