World’s Most Valued Brands: Amazon pips Apple to be No. 1, only one Indian brand in top 100; check top 10
Billionaire Jeff Bezos’s e-commerce company Amazon has become the most valued brand, overtaking Apple, last year’s topper. Amazon bagged the top spot despite its brand value falling 15% 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, according to Brand Finance’s brand valuation consultancy report.
iPhone maker Apple, on the other hand, 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.
Here’s 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)
Some of the gainers on the list include electric car manufacturers Tesla (brand value up 44% to $66.2 billion) and BYD (up 57% to $10.1 billion). Social media company Instagram's brand value also jumped 42% to $47.4 billion while LinkedIn's value was up 49% to $15.5 billion.
India’s Top-Valued Brands
From India, over 150-year-old Tata Group is the only brand to feature in the top 100. The conglomerate’s brand value jumped up to 69 from 78 last year. However, reasons for the ranking going up were not available.
Among Indian IT tech giants, Infosys jumped to the 150th slot from 158 last year. According to 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.”
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