Top 10 most valuable brands in 2023 according to BrandFinance
The consulting company Brand Finance has published a ranking of the most valuable brands in 2023. Amazon topped the rankings despite Amazon’s value dropping 15% to $299.3 billion, losing $51 billion.
Key takeaways from the report:
- Amazon has become the most valuable brand in the world despite losing $51 billion.
- Apple lost its leadership in the ranking, losing first place to Amazon. Apple’s value fell by $57.6 billion.
- Tesla and BYD are the fastest growing brands in the world as demand for electric vehicles continues to rise.
TOP 10: the most expensive brands in 2023
|List of brands||Country||Brand value|
|Samsung||South Korea||$99,7 billion|
|Verizon Communications||USA||$67,4 billion|
Amazon’s rating has dropped from AAA+ to AAA as demand for online shopping has fallen in the post-pandemic world. According to a study by Brand Finance, shoppers are increasingly complaining about Amazon’s service due to the fact that delivery times have increased. As a result, consumers are less likely to recommend Amazon to their friends. At the same time, after the lifting of coronavirus restrictions, consumers began to return to shopping in physical stores instead of online shopping.
Apple’s value fell 16% from $355.1 billion to $297.5 billion. Despite such a serious drop, Apple ranks second in the ranking of the most valuable brands in the world. The fall in brand value is due to the disruption of supply chains and a decrease in demand for products amid rising inflation in the world.
Tech brands around the world are losing value due to economic problems. High inflation has affected various business sectors, including as consumer habits return to previous pre-pandemic patterns. In addition, the decline in demand for products and services of technology companies is attributed to the disruption of supply chains, labor shortages and funding barriers.
The ranking featured 48 tech brands (2 less than in 2022 as Snapchat and Twitter dropped out of the list).
The value of many other tech brands has also dropped significantly:
Samsung Group (brand value down 7% to $99.7 billion).
Alibaba.com (brand value down 56% to $10.0 billion).
Meta, formerly Facebook (brand value down 42% to $59.0 billion).
WeChat (brand value down 19% to $50.2 billion).