
MAZ marks the second phase of its 2023 Superbrand research process
The unveiling of the Top 200 brands by the Marketers Association of Zimbabwe culminates in the Superbrand Awards at year-end.
BRAND VALUATION
By our News Team | 2023
Brand Finance Global 500 2023 study rates Amazon as the world’s most valuable brand, with Apple dropping to second spot.
Multinational technology and e-commerce company Amazon has retaken top spot as the world’s most valuable brand, according to a new report from leading brand valuation consultancy, Brand Finance.
This is despite its brand value falling 15% – going from US$350.3-billion to $299.3-billion. This is a drop in value of $51-billion. Overall, tech companies in the latest survey saw their brand values diminish significantly as post-pandemic market forces changed.
An Amazon distribution facility in Spain. Photo credit: Álvaro Ibáñez, Madrid
But technology companies are still the most valuable global brands. Apple is in second position; Google is third and Microsoft is fourth.
“Technology brands across the world have lost significant value in response to shifting demand patterns,” explains David Haigh, Chairman and CEO of Brand Finance.
“Inflation has affected brands across many sectors, but as consumer habits partially revert to pre-pandemic patterns, demand for the services of tech brands has been hit particularly hard. Additionally, disrupted supply chains, labour shortages and greater obstacles to financing have left their mark.”
Among the reasons for the drop in brand value of Amazon (which is scheduled to enter the South African and Nigerian markets in 2023) is that consumers’ perception of customer service at Amazon has fallen – at the same time as delivery times have lengthened. In tandem with this, consumers have become less likely to recommend Amazon to others and more people are returning to in-person shopping as pandemic restrictions lift.
Apple, which was the top brand in the previous Brand Finance Global 500 2022 report, moves into second spot in the latest report after its brand value fell by 16%.
Apple’s product supply will be limited
“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,” says Brand Finance.
But despite these challenges, Apple continues to innovate, invest in long-term growth plans, and expand its offering into a broader range of services.
“This extension of its brand further diversifies its suite of products beyond its most successful product, the iPhone. Powerful customer loyalty and a continued strong customer response to products and services such as the Apple Watch, AirTags and Apple Pay saw the installed base of active Apple devices hit an all-time high in 2022,” the report states.
Other tech-focused brands to lose value include Samsung Group (brand value down 7%), Alibaba.com (brand value down 56%), Facebook (brand value down 42%) and WeChat (brand value down 19%).
On the upside, tech brands that increased in brand value were Instagram (brand value up 42%) and LinkedIn (brand value up 49). Both grew “due to well-executed strategy to commercialise their services”, the report says.
The Brand Finance Global 500 2023 top 10 brands are:
You can find out more about the report here:
The unveiling of the Top 200 brands by the Marketers Association of Zimbabwe culminates in the Superbrand Awards at year-end.
While culture and history still permeate the North African consumer experience, it is also a region undergoing a dramatic evolution.
Company says order-fulfilment software from the US digitises and optimises the picking, packing, staging and distribution of online orders.
Placing goods that are not on promotion next to ones that are being discounted can have both positive and negative effects.
AzamPesa mobile money wallet set to close the gap between urban and rural areas in terms of access to financial products and solutions?
Survey finds people spend a month of their lives waiting for call centre agents to pick up. So insurer unveils ‘#StopHoldMusic’ campaign.
Top brands of the future will not be focused on the products they sell, but rather on serving an ecosystem of stakeholder needs.
Growth is expected to resume in 2023 at more than double the rate of last year, with the retail sector being the biggest spender.
Non-fungible tokens (NFTs) are usually associated with celebrities and market volatility. But there is untapped potential for marketers.
Annual Brand Africa study shows the continent’s brands are losing ground to their international counterparts.
Auchan – a competitor to Carrefour – will make Algeria its fifth market on the African continent later this year.