US e-commerce giant grabs top slot despite a $51-billion value loss, research has found
FILE PHOTO: A woman walks past an Amazon logo outside a building. © Dinendra Haria / SOPA Images / LightRocket via Getty Images
Amazon has regained its position as the world’s most valuable brand despite a 15% decrease in value this year, according to the annual Brand Finance Global 500 ranking, which features 48 tech companies.
According to the valuation, though Amazon reclaimed the top spot its brand value dropped more than $50 billion this year, from $350.3 billion to $299.3 billion. Its rating went from AAA+ to AAA as consumers “evaluate it more harshly in the post-pandemic world.”
The perception of the company’s customer service dropped as delivery times became longer and consumers were less likely to recommend Amazon to others, the research found.
“Concurrent with the conclusion of pandemic restrictions, people are returning to shopping in-person, slightly mitigating the need for online retail,” the report said.
Apple slipped to second place, with its brand value falling by 16% from $355.1 billion to $297.9 billion. This year’s fall was due to a lower revenue forecast as supply chain disruptions and a constrained labor market are expected to limit the supply of its hardware products, according to Brand Finance.