The Reputation Institute of Boston has recently released the 2020 edition of its Global RepTrak, a ranking of the most reputable brands worldwide. In a surprising turn of events, Rolex, the renowned watch manufacturer, has been dethroned from the top spot it held for the past four years. This year, Lego takes the lead, followed by The Walt Disney Company. These two brands have consistently maintained their positions in the Top 10 since the study’s inception in 2011.
The complete Top 10 of the Global RepTrak 2020 consists of Lego, The Walt Disney Company, Rolex, Ferrari, Microsoft, Levi’s, Netflix, Adidas, Bosch, and Intel. Notably, Ferrari, the automotive brand, entered the Top 10 this year, securing the fourth position. The Reputation Institute attributes this success to Ferrari’s strong “emotional connection” with consumers, catering to both their rationality and aspirations.
According to the report, companies in the pharmaceutical, transportation, finance, and energy sectors face significant challenges in terms of their reputation. On the other hand, the hospitality, consumer goods, and technology sectors boast a better reputation. However, the finance and energy sectors have experienced a reputation recovery in recent years, thanks to improved brand governance strategies.
In today’s landscape, consumers are increasingly concerned about brand reputation, alongside their specific expectations during times of crisis. While product excellence and service quality remain crucial, a brand’s consistency and values have become equally important. Kylie Wright-Ford, the CEO of the Reputation Institute, notes that iconic brands are regenerating themselves to stay relevant. These brands set themselves apart by delivering excellent products, cutting-edge innovations, and a meaningful brand purpose. By doing so, leading companies can build long-term reputational value.
The study reveals that while the perception of products and services of the Top 100 brands has received favorable scores, it has reached a plateau. On the other hand, the perception of brand governance and its impact on the social environment has significantly increased in recent months. However, it is essential for brands not to become complacent or lack authenticity, as 56% of respondents consider themselves “on the edge” in terms of their support for the brands surveyed. From reputation to loyalty, there is still a long way to go.
The Global RepTrak report is based on 80,540 individual responses to a survey conducted between December 2019 and January 2020 across the 15 most influential economic powers. The 153 companies included in the study were selected based on their international presence and annual revenue exceeding $2 billion.
Useful links:
1. Reputation Institute
2. Forbes Article: Lego Trumps Rolex and Other Stories from the 2020 Global RepTrak
