Brand Finance, the world’s leading independent brand valuation and strategy consultancy headquartered in London, announces the “Global 500 2023” – Top 500 companies in the world based on brand value. Researching on over 5000 brands across 40 countries, the company assess the brands on nearly a dozen of KPIs and diagnostics ranging from brand’s awareness, familiarity, usage, quality, loyalty, reputation to brand momentum.
The top 10 most valuable brands in the world as per Brand Finance is as follows.
Amazon – $299.3 billion
The ecommerce giant Amazon has surpassed Apple to be the world’s valuable brand though its brand value fell 15% this year from $350.3 billion to $299.3 billion, losing $51 billion.
Despite spotted on the top, Amazon’s rating dropped down from AAA+ to AAA as consumers evaluate the company 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, Brand Finance reported.
Apple – $297.5 billion
Apple has fallen to be the world’s second most valuable brand with its brand value falling from US$355.1 billion. This year’s fall in brand value relates to a fall in forecast revenue as a disrupted goods supply chain and a constrained labour market are expected to limit supply of its marquee hardware products.
Apple had also seen poor sales of base models of iPhone 14 and also reprehended on its unfair App Store commissions.
Google – $281.4 billion
Google retains its position as the world’s third most valuable brand. With a 7% increase in brand value year-on-year, Google is valued at US$281.4 billion as it continues to grow and expand into new products and services over the past year.
The brand has expanded its technological capabilities vastly over the span of the year with its existing product offerings including Google Wallet, Google Pixel and Google Cloud by optimising these products with new artificial intelligence and virtual reality features.
Microsoft – $191.6 billion
Microsoft stands fourth in the list valued at $191.6 billion with a 4% increase. Currently headed by Satya Nadella, the company had launched surface laptops last year and the tech-firm is expected to announce release date of Windows 12 in March 2023.
Microsoft had announced that it will be cutting 10,000 jobs about 5% of its workforce, recently to align the company’s cost structure for delivering results on a long-term.
Walmart – $113.8 billion
Walmart gets the fifth spot with $113.8 billion brand value, seeing a 1.7% increase. The firm is profound in United States, and its value is worth than the GDP of countries like Belgium, Israel and Thailand.
Samsung Group – $99.7 billion
Smartphone domineering Samsung Groups sits on the sixth valuable brand in the world, closing almost to a century billion dollars at $99.7 billion. Samsung fell in its valuation to 7.1%, however the company is strong in smartphone sales securing the first place in the overall smartphone market, followed by Apple.
Samsung’s India arm sold mobile phones worth Rs.14,400 crore ($1.77 billion) in Q3 of 2022, its highest ever since 2018.
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ICBC – $69.5 billion
Industrial and Commercial Bank of China limited engages in the provision of commercial banking and financial services. It operates through the following business segments: Corporate Banking, Personal Banking, Treasury Operations, and Others. It’s evaluated at $69.5 billion and becomes the seventh valuable brand. 2022 was tough on ICBC too as it fell 7.4%.
Verizon – $67.4 billion
Verizon, is a leading American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average. The firm sees a 3.2% fall, however grabs the eighth valuable brand of the world.
Tesla – $66.2 billion
The electric car maker – Tesla, had witnessed a whopping 43.9% increase in brand-valuation surging up from 28th position to seat at the 9th position of the most valuable brand list.
Though Tesla lost 65% of its value from $1.061 trillion to $345 billion in 2022 due to Elon Musk’s take on Twitter, it’s innovation and brand valuation had increased year-on-year.
TikTok – $65.7 billion
China’s TikTok despite cursed of being a spy for its home-country, the brand got an 11.4% increase closing on the tenth place with $65.7 billion valuation.
With more than 1.5 billion active monthly users, it has the highest social media engagement rate per post at 18%, while its peers like Instagram and YouTube had an engagement rate of 3.86% and 1.63% respectively.
More on the brands:
1. Google becomes the World’s Strongest Brand.
2. BYD is the fastest growing brand in ranking, up 57% to over $10 billion.
3. Tech remains the most valuable industry with one-sixth of top 500 value.
4. USA accounts for over 200 brands and half of total value of ranking.
5. Tata Groups, India is the only brand from India to feature in the top 100. Jio from India secures as the 9th strongest brand in the World.
6. India’s Infosys tops the list among India’s IT firms securing 150th place in the top valuable brand list and as 89th world’s strongest brand.
(For more such interesting technology and innovation stuffs, keep reading The Inner Detail).