In 2023, Amazon's brand value plummeted by one-third, standing below 469 billion U.S. dollars – the first decline since 2015. Before that, between 2007 and 2022, the figure had increased almost 120-fold.
Diversification is key
Despite the decrease, Amazon ranked fourth among the leading brands worldwide in 2023. One of the brand's key growth drivers is its continued diversification of revenue streams. In addition to selling millions of products via its online platform, Amazon also moved beyond the realm of retail by launching the cloud platform Amazon Web Services (AWS), selling ad space, and extending its Prime subscription features.
Spotlight on retail brands
What makes Amazon stand out from many of the world's most valuable retail brands is its focus on e-commerce and the platform's extensive global availability. While U.S.-based competitors such as Walmart mainly operate in North America, Amazon serves millions of users across the globe. Zooming in on the Asia-Pacific region, the highest-valued retail brand in China was JD.com in 2022.
Amazon's global brand value from 2006 to 2023
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Kantar. (June 15, 2023). Amazon's global brand value from 2006 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 03, 2024, from https://www.statista.com/statistics/326086/amazon-brand-value/
Kantar. "Amazon's global brand value from 2006 to 2023 (in billion U.S. dollars)." Chart. June 15, 2023. Statista. Accessed July 03, 2024. https://www.statista.com/statistics/326086/amazon-brand-value/
Kantar. (2023). Amazon's global brand value from 2006 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 03, 2024. https://www.statista.com/statistics/326086/amazon-brand-value/
Kantar. "Amazon's Global Brand Value from 2006 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 15 Jun 2023, https://www.statista.com/statistics/326086/amazon-brand-value/
Kantar, Amazon's global brand value from 2006 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/326086/amazon-brand-value/ (last visited July 03, 2024)
Amazon's global brand value from 2006 to 2023 (in billion U.S. dollars) [Graph], Kantar, June 15, 2023. [Online]. Available: https://www.statista.com/statistics/326086/amazon-brand-value/