Many Retailers’ Reputation Scores Fall in Latest Axios Harris Poll 100

Report finds that prices cut into consumer trust, but not behaviors

5/24/2024

Costco was the highest ranking retailer on the 2023 Axios Harris Poll 100 that measures company reputations among consumers.

As inflation hit consumers’ wallets over the past few years, it’s also struck some company reputations. The recently-released Axios Harris Poll 100 gauging the reputation of the most visible brands in the United States shows that some CPGs and retailers experienced a dip in their reputation score from 2023 to 2024, including Amazon, Costco, Kroger, Procter & Gamble and KraftHeinz.

The poll showed that consumer trust fell the most among clothing companies, followed by quick-service restaurants, big box stores and grocers, in that order.

High prices and the perception of high prices were behind a lot of the sentiment, according to the pollsters. “Industries where consumers see price hikes for everyday items have declining trust,” the Harris Poll researchers wrote.

That said – and importantly for grocers – the reputational dip hasn’t made as huge of a dent as one might think. In a recap of the report on Axios, a research analyst said that consumers have been resilient and have not “punished” retailers for price hikes. "The reality is that most consumers are creatures of habit — and most consumers really haven't changed their buying patterns all that much," observed Garrett Nelson of CFRA Research.

Tech and AI company Nvdia topped this year’s list. Several retailers made top 30 in the Axios Harris Poll corporate ranking survey, including the following: