According to a new research, Amazon, the US-based e-commerce giant, has recaptured the title of most valuable brand.
Despite a 15% reduction in brand value to $299.3 billion, Amazon reclaimed the title, according to a research produced by Brand Finance, a prominent valuation and strategy consultancy organization.
With a value of $220.8 billion in the 2020 report, Amazon was the most valuable brand, but it lost ground to Apple in 2021 and 2022.
Apple was ranked second in the 2023 report, with a value of $297.5 billion, a 16.2% decrease year on year.
Google comes in third place with $281.4 billion, followed by Microsoft (191.6 billion) and Walmart (113.8 billion).
Samsung, ICBC, Verizon, Tesla, and TikTok were among the top ten companies.
Seven of the top ten corporations are from the United States, two are from China, and one is from South Korea.
“Technology brands around the world have lost considerable value in reaction to altering demand patterns,” said David Haigh, chairman and CEO of Brand Finance.
“Inflation has impacted companies across many industries, but as consumer habits partially revert to pre-pandemic patterns, demand for digital brands’ services has been particularly severely hit.”
The United States topped the list of the 500 most valuable brands, with 201 ($3.98 trillion), followed by China (79 ($1.43 trillion), Germany (24 ($479.6 billion), Japan (32 ($425.5 billion), and France (31 ($331.2 billion).