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Amazon Is Now The World's Most Valuable Brand, Leaving Apple Behind

Amazon has regained its position as the world's most valuable brand despite a decrease in value of $51 billion or 15% this year. It has left Apple behind.


Image: AP

Amazon has regained its position as the world's most valuable brand despite a decrease in value of $51 billion or 15% this year, according to the annual Brand Finance Global 500 ranking, Sputnik reported. It is worth flagging that this has occurred despite the fact that the company's value dropped from $350.3 billion to $299.3 billion and its rating went from AAA+ to AAA as consumers have had a more negative evaluation of it in the post-pandemic world. Research from Brand Finance shows that consumers are less satisfied with Amazon's customer service and less likely to recommend it to others due to longer delivery times, and they are also increasingly buying offline since COVID-19 restrictions have been lifted.

The report states that even though Amazon's brand value has decreased this year, it has still increased by 36% since the start of the COVID-19 pandemic. This is due to the company's expansion across various sectors of the economy. Apple's brand value, on the other hand, has decreased by 16% this year, dropping from $355.1 billion to $297.5 billion. This is due to the expected decrease in revenue caused by disruptions in the supply chain and limitations in the labor market, which will affect its popular hardware products.

Amazon overtook Apple despite a tough year for the tech sector, after the e-commerce major had held the title of world’s most valuable brand from 2018 to 2020.

Condition of other tech brands

In addition to Amazon and Apple, other technology brands also experienced a decline in value, with Samsung decreasing by 7% to $99.7 billion. On the other hand, electric car manufacturers saw significant growth in value. Tesla's brand value increased by 44% to $66.2 billion, and BYD's value increased by 57% to $10.1 billion due to the growing demand for electric cars driven by the shift towards a low-carbon economy.

Amazon's journey

Amazon was founded in 1994 by Jeff Bezos. Initially, the company operated only as an online bookstore, but it quickly expanded to sell a wide variety of products. In the late 1990s, Amazon began to expand its product offerings and services, including the launch of its Marketplace, which allowed third-party sellers to sell their products on Amazon's platform. In 2002, the company launched Amazon Web Services, which provided a platform for businesses and individuals to host websites and other applications.

In 2005, Amazon introduced Amazon Prime, a subscription service that offered free two-day shipping and other benefits. Over the years, Amazon has also expanded into other areas, such as streaming media (with Amazon Prime Video), smart home devices (with Amazon Echo), and grocery delivery (with Amazon Fresh and Whole Foods). Today, Amazon is one of the largest and most influential companies in the world, with operations in e-commerce, cloud computing, artificial intelligence, and many other areas. The company has frequently faced criticism because of how it treats its workers. The way Amazon treats its workers has started a wave of labour union movements across the US and other countries. 

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