The latest Axios Harris Poll 100, which rates the reputations of major companies based on consumer reactions, reveals that many companies are losing their luster in the eyes of consumers.
A nationally representative sample of Americans was asked to identify the two companies with the best and two with the worst reputations. After determining the 100 “best known” companies, a second group of respondents was asked to rate each company based on trustworthiness, vision, growth, ethics, citizenship, products and services. A total of 16,500 respondents participated in the survey, which was conducted in mid-March.
The Axios-Harris Poll calculated a Reputation Quotient (RQ) for each company based on respondents’ answers. The overall score was down two points from last year, the lowest since before the COVID-19 lockdowns. While some companies saw their reputations improve, more than two-thirds of the 89 companies polled last year saw their scores decline.
The study found that key reasons for the decline included a lack of ethical behavior in pricing, wages and hiring, as well as an excessive focus on culture war issues.
“This year’s Axios Harris Poll 100 reveals that public backlash over their response to inflation has systematically eroded companies’ reputations as they drive up prices and reduce value for hard-pressed American consumers,” said John Gersema, CEO of Harris Poll, as reported by PR Newswire. “In fact, 72% of respondents believe companies are using inflation to boost profit margins, rather than setting prices fairly and transparently.”
Many fast food companies, including Starbucks, Chipotle, Chick-fil-A and McDonald’s, fell in this year’s rankings.
Companies that were perceived as placing too much emphasis on “diversity, equity and inclusion” similarly saw their RQ scores decrease, especially in the area of trust.
Anheuser-Busch, which was embroiled in controversy last year when it launched a marketing campaign for Bud Light featuring a transgender influencer, lost six points in its RQ score and dropped 23 places in the rankings.
Target fell six places in the rankings last year after coming under fire for promoting LGBTQ pride products aimed at children.
Only two companies received a score above 80, earning the “excellent” rating – Nvidia and 3M, who received scores of 81.2 and 81.0, respectively. Rounding out the top five were Fidelity Investments (79.9), Sony (79.8), and Adidas (79.4).
Among the biggest climbers on the rankings were Fidelity Investments, which rose 26 places, Hobby Lobby, which rose 25 places, and Coca-Cola and Dell, both of which rose 22 places.
Meanwhile, the Trump Organization ranked last on the list at 100th with an RQ score of 54. Next was X (formerly Twitter) with a score of 58.8, followed by Spirit Airlines (59.1), Meta (59.6) and Fox Corporation (60.3).
“To excel on reputation, companies must deliver strong financial performance, culture and trust,” said Ray Day, vice chairman at marketing and communications group Stagwell, as reported by PR Newswire. “Brands can be built, but reputations are earned. This year’s results highlight more than ever that reputation must be a priority, from the boardroom to the C-suite, because the companies with the best reputations win in the marketplace.”
