The survey ranks brands on their rated their ability to meet consumers’ innovation expectations.
Consumers have spoken.
Consumers identified fifty brands that deserved innovation recognition in the 2022 Most Innovative Brands survey, conducted by New York-based brand loyalty and engagement consultancy Brand Keys. The 50 brands fell into eight industry sectors: consumer goods, entertainment, food, healthcare, social networking, software, technology and transportation. The brands within each category are ranked according to how consumers rated their ability to meet their innovation expectations. (All categories listed at end of article.)
Ten retailers made the cut, including six in consumer goods, where Amazon took the top spot. Nike was third, followed by Sephora (#6), Lululemon (#7), Walmart (#9) and Wayfair (#10).
Two retailers made the food category. Starbucks came in at #6, followed by Trader Joe’s (#7).
In the healthcare category, CVS Health ranked second, followed by Walgreens (#5).
The annual survey is the only assessment of brand innovation conducted entirely from a consumer perspective, according to Robert Passikoff, founder and president, Brand Keys.
“It really doesn’t matter to consumers what promises are made on earnings calls or how many patents a brand holds or the profits they post,” he said. “Consumers don’t look at innovation that way. And while they can’t always articulate what form they want innovation to take, if a brand accurately measures how consumers look at their category and what they really expect, they’ll have a big advantage over the competition.”
Here are the eight industry sectors rated in the survey: