Amazon has reclaimed the top spot as the world’s most valuable brand despite its brand value falling 15 per cent this year from $350.3 billion to $299.3 billion, said a new report. 

According to brand valuation consultancy Brand Finance’s report, “Global 500 2023”, while Amazon is back at No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. This is as consumers evaluate it more harshly in the post-pandemic world. 

Brand Finance’s research has found that perception of customer service at Amazon has fallen – at the same time as delivery times have lengthened. And so, consumers have become less likely to recommend Amazon to others. 

Also, with pandemic restrictions ending, people are returning to shopping in-store, which has, to some extent, impacted the need for online retail.

Apple (brand value down 16 per cent to $297.5 bil