Brand Finance - Amazon Outperformed Apple As The World's Most Valuable Brand

Key Points:

As per the report published by The Annual Brand Finance Global 500 Ranking, Amazon has become the world's topmost valuable brand despite a decrease in value by 15% or $51 billion this year, leaving Apple behind.

Although the giant retailer Amazon stood at the top spot, the company's rating has slipped from AAA+ to AAA.

As per the reports, Apple has slipped to number 2 as the most valuable brand, dropping from $355.1 billion to $297.5 billion. 

In addition to Amazon and Apple, many other famous brands like Samsung, Ali Baba, Facebook, and WeChat experienced decreased value.

On the contrary, brands such as LinkedIn, Instagram, Tesla, BYD, etc., have witnessed potential growth.

Dive Insight: 

Amazon has recovered its position as the world's most profitable brand, which is worth flagging as it occurred; though a significant drop has also been seen in its Y-O-Y growth.

A drop in the value of Amazon occurred after the customers were unsatisfied with the company's customer service and longer delivery times, resulting in fewer recommendations to others. Moreover, since COVID-19 restrictions have been lifted, customers have shifted back to shopping in-store.

Other popular tech-focused brands such as Samsung, Ali Baba, Facebook, and WeChat have lost their value by 7%, 56%, 42%, and 19% respectively. However, there were also some brands whose figures went up significantly. Instagram's brand value rose by 42%, becoming $47.4 billion. Similarly, Linkedin went up by 49%, resulting in a total of $15.5 billion. BYD grew by 57 % to $10.1 billion.

Electric car manufacturers, i.e., Tesla's brand value, are up by 44% to $66.2 billion due to the increasing demand for electric cars driven by the shift BYD grew by 57 % to $10.1 billion.

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