Victoria’s Secret/Pink, Amazon among most innovative retailers

A women’s specialty retailer took the top spot in its category and also ranks among the most innovative companies overall, according to a new study.

Victoria’s Secret/Pink ranked as the most innovative specialty retailer as well as the 10th most innovative company overall among 16 industries in the annual American Innovation Index, while Amazon ranked as the most innovative general merchandise retail company and was sixth overall. Now in its seventh year, the Index ranks most innovative U.S. companies based upon customer perceptions. (See lists of top 10 companies at end of article.)

According to the index, which is based on research conducted and compiled by Fordham University’s Gabelli School of Business, Illuminas and the Norwegian School of Economics, the companies that stand out from their competitors in the minds of consumers do so because of their products and services (including continually introducing new ones, striving for excellence, and offering variety), their ability to adapt to change and their stylish and modern design. Three multinational industry giants — Apple, Toyota and Honda —  secured the top spots overall.

“The AII is the only index that ranks the level of innovation based upon consumer perceptions and interactions with a company, making it unique in that it measures innovation from the customer point of view rather than on expert opinions, which bypass customers’ experiences,” said Barbara M. Porco, Ph.D., CPA, CFF, managing director at Fordham University’s Gabelli School of Business, Responsible Business Center. “In addition to being innovative, companies that are secure, easy to do business with, have a strong web presence, and have the ability to customize their products or services, are those most likely to rank in the top positions.”