{"id":20632,"date":"2023-01-19T06:38:50","date_gmt":"2023-01-19T06:38:50","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=20632"},"modified":"2023-01-19T07:48:40","modified_gmt":"2023-01-19T07:48:40","slug":"amazon-replaces-apple-as-most-valuable-brand","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/01\/19\/amazon-replaces-apple-as-most-valuable-brand\/","title":{"rendered":"Amazon replaces Apple as most valuable brand"},"content":{"rendered":"
\nAccording to global brand valuation company Brand Finance, e-commerce and technology behemoth Amazon has surpassed Apple as the most valuable brand in the world.<\/p>\n
In the Middle East, Saudi Aramco, Adnoc, and Etisalat remained the Middle East’s top brands, the company’s\u00a0 Global 500 2023 report said.<\/p>\n
Read more:<\/strong><\/span> The research noted that Amazon<\/a> overtook Apple despite a 15 per cent decline in brand value this year, from $350.3 billion to $299.3 billion. With a value of $220.8 billion in the 2020 report, the corporation claimed the top spot, but Apple overtook it in 2021 and 2022.<\/p>\n This year, Apple<\/a> came in second with a valuation of $297.5 billion, a decrease of 16.2 percent from the previous year.<\/p>\n While Amazon is back at the first spot, according to Brand Finance’s report, its brand worth has decreased by more than $50 billion this year, and its rating has dropped from AAA+ to AAA.<\/p>\n According to the survey, consumers are now less inclined to suggest Amazon to friends as their opinion of the company’s customer service has decreased, concurrently with longer delivery durations. People are starting to purchase again in-person in tandem with the lifting of pandemic restrictions, which somewhat reduces the demand for online retail.<\/p>\n This has come during a tough year for Amazon and other big tech companies. Earlier this year, Amazon had announced it would lay off 18,000 employees across its business including Amazon Stores and its human resources department.<\/p>\n
\nAl Futtaim launches economic progress tracker at Davos<\/a><\/strong><\/span><\/p>\n