Amazon, AllBirds tops BrandKeys’ 2024 most innovative retail list
An online giant and a direct-to-consumer sustainable footwear brand are meeting consumers’ expectations the most when it comes to innovation.
Amazon and Allbirds took the top spots in the retail sector in the “2024 Most Innovative Brands” survey conducted by brand loyalty and engagement research firm Brand Keys. For 2024, the national sample of 7,806 consumers (50:50 male/female, 16 to 65 years of age) identified the top 50 innovator-brands in eight industry sectors, including retail, restaurants, social networking, entertainment, health care, technology and transportation. (See lists at end of article.)
The annual survey is based on a 100% consumer perspective. Brands were ranked by consumers’ assessments of their ability to meet category innovation expectations.
“Earnings calls, patents and profits are important to Wall Street but not so much to Main Street,” said Robert Passikoff, founder and president, BrandKeys. “While consumers can’t necessarily articulate what form innovation should take, they know what it feels like. Brands that address those feelings via invention and re-invention, always have a significant advantage over the competition."
Passikoff noted that when innovation ‘delight’ turns into everyday ‘conventional,’ as good as a brand might be, it’s no guarantee that consumers will see it as an innovator. ”
“Many brands become yesterday’s news like: Dyson, Nike, Peloton, Wayfair, Airbnb, GM, Adobe, Hulu, and Zip Car, which were once seen as innovators, didn’t make it on this year’s list,” he said.
Here are the 2024 rankings for the retail, restaurant, social networking and entertainment sectors.
Retail
1. Amazon
2. Allbirds
3. Hoka
4. Louis Vuitton
5. Tiffany’s
6. Trader Joe’s
7. Walmart
Restaurant
1. McDonald’s
2. Taco Bell
3. Chipotle
4. Jersey Mike’s Subs
Social Networking
1. WeChat
2. TikTok
3. WhatsApp
4. Instagram
Entertainment
1. Mattel
2. Netflix
3. PlayStation (SONY)
4. Taylor Swift
5. YouTube
6. Disney