Retailers that prioritize corporate purpose are seeing the ROI in their business reputations.
The Reputation Institute released its 10th annual Global RepTrak, which ranks global companies on how they’re perceived across a range of product and performance criteria.
Companies that experienced increased scores largely did so by enhancing the perception of their corporate social responsibility (CSR).
“The key takeaway from this is that while the most reputable companies must continue to deliver on the quality and value of their products and services, in 2020 reputation improves more as a result of what companies stand for than by what they sell,” notes the Reputation Institute.
The Lego Group took first prize on the on the 2020 Global RepTrak while Disney took second billing. Both companies received high marks for both products and services — the most impactful reputation attributes — as well as for leadership and sustained innovation.
“There is widespread, international buy-in around the quality of what [Disney and Lego] offer in the market — both get strong to excellent scores in ‘high quality products and services’ across all 15 markets,” said the Reputation Institute.
Levi Strauss & Co., meanwhile, secured the No. 6 spot, up from No. 13 in 2019. Perception of the apparel retailer and brand’s citizenship rose significantly, aligned with CEO Chip Bergh’s active support of social and environmental issues.
The top 10 retailers that landed on the 2020 list include:
No. 1: The Lego Group
No. 2: The Walt Disney Company
No. 6: Levi Strauss & Co.
No. 8: Adidas
No. 20: Harley-Davidson
No. 30: Nike
No. 41: Estee Lauder
No. 42: Amazon
No. 45: Ikea
No. 47: LVMH (parent company to such retailers as Sephora, Louis Vuitton and Christian Dior, with an estimated 829 stores in the U.S. in 2019)
How the list is calculated: Companies are measured across the following criteria: products and services, innovation, workplace, governance, citizenship, leadership and financial performance. More than 80,000 consumer responses from the 15 countries during December 2019 and January 2020 were considered in calculating the 0-100 scale for 153 companies with a global footprint and annual revenue of at least $2 billion.