Apple Surpasses Amazon as the World's Most Valuable Brand in 2023

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Cindy Mutia Annur 15/08/2023 20:30 WIB

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Amazon surpasses Apple as the world's most valuable brand in 2023, according to Brand Directory. The company is estimated to have a brand value of US$299.28 billion, while Apple is valued at US$297.5

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Top 10 Most Valuable Brands (2023)

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Amazon surpassed Apple as the world's most valuable brand in 2023, according to data from British brand consultancy Brand Finance. The e-commerce giant is estimated to have a brand value of approximately US$299.28 billion, while Apple's brand value is US$297.51 billion.

The report shows that Amazon's brand value in 2023 decreased by 14.6% year-on-year (YoY), considering its value was US$350.27 billion in 2022.

Despite the decrease in brand value, Amazon was once again named the world's most valuable brand.

"Amazon has reclaimed the top spot as the world's most valuable brand despite a drop in brand value," said the Brand Finance team in their report.

Amazon was previously the world's most valuable brand from 2018 to 2020.

According to the Brand Finance team's findings, customer perception of Amazon's customer service has declined, with consumers perceiving a decrease in brand strength post-pandemic. This is related to longer delivery times.

"In line with this, consumers are less likely to recommend Amazon to others," said the Brand Finance team.

The report also found that consumer habits have shifted somewhat due to the end of pandemic restrictions, with many people returning to in-person shopping rather than online shopping.

Furthermore, according to Brand Finance, Amazon failed to meet the company's expected targets, as significant cost-cutting measures and layoffs negatively impacted its brand value.

"However, despite this year's decline, Amazon's brand value is still up 36% since the start of the Covid-19 pandemic, as the Amazon brand has grown into a dominant player in various economic sectors: online retail brand, cloud computing, voice automation, digital streaming (in audio and video, complementing its e-bookstore)," said the Brand Finance team.

Below Apple, Google has a brand value of US$281.38 billion. Further down, Microsoft is ranked fourth with a brand value of US$191.57 billion.

Here are the top 10 most valuable brands in 2023 according to Brand Finance:

1. Amazon: US$299.28 billion
2. Apple: US$297.51 billion
3. Google: US$281.38 billion
4. Microsoft: US$191.57 billion
5. Walmart: US$113.78 billion
6. Samsung Group: US$99.65 million
7. Facebook: US$69.54 million
8. ICBC: US$67.44 million
9. Huawei: US$66.2 million
10. Verizon: US$65.69 million

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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