The annual report on the world's most valuable and strongest brands.
"Amazon loses brand value, but becomes the world’s most valuable brand again, valued at US$299.3 billion Amazon has retaken top spot as the world’s most valuable brand despite its brand value falling 15% this year from US$350.3 billion to US$299.3 billion.
Amazon was previously the world’s most valuable brand from 2018 to 2020.
Amazon’s brand has fallen by over US$50 billion this year, substantially in connection with its fall in brand strength, with its rating falling from AAA+ to AAA as consumers evaluate it more harshly in the post-pandemic world. Brand Finance’s research has found that customer perception of customer service at Amazon has fallen – at the same time as delivery times have lengthened – and in concert with this, consumers have become less likely to recommend Amazon to others. Concurrent with the conclusion of pandemic restrictions, people are returning to shopping in-person, slightly mitigating the need for online retail.
At the same time, Amazon has failed to meet expected targets, with significant cost cutting and layoffs depressing its brand value.
But despite its fall in value this year, Amazon’s brand is still up 36% in value since the beginning of the COVID-19 pandemic, as the Amazon brand has grown to become a dominant player across many different sectors of the economy: online retail brand, cloud computing, voice/home automation, digital streaming (in both audio and video, complementing its electronic bookstore)."
