Rankings are Uniquely Based Upon a Survey of Consumer Experiences That Provide Insights Into the Innovations That Matter Most
Top 25 leaders on the American Innovation Index™ will receive awards at the 6th annual American Innovation Conference hosted by the Fordham University Gabelli School of Business
In a business environment that is focused on innovation driven by customer preferences and demand, the American Innovation Index ™ (Aii) plays a critical role in gauging the companies in the U.S., which are perceived to be the most innovative and attuned to the needs of consumers. Now in its sixth year of providing important insights into the American mindset, the results of the 2023 Aii have just been published.
According to the Index, which is based upon research that is conducted and compiled by Fordham University’s Gabelli School of Business, Illuminas, and the Norwegian School of Economics, while most tech companies strive to be at the forefront of innovation, only four tech brands—Apple, Microsoft, TikTok, and Adobe—were ranked by consumers in the top 25 most innovative companies in the United States. The top 10 (as listed below), with the exception of Apple, consisted predominantly of automotive brands that are international in scope, as well as retail giants—from membership-based, big-box stores to luxury brands.
“What is unique about the Aii is that it is the only survey in the U.S., which measures company innovativeness based upon customers’ experiences,” noted Barbara Porco, Ph.D., associate dean of graduate studies at Fordham’s Gabelli School of Business, and managing director of the School’s Responsible Business Center. “This reminds us of the incredible importance that consumers play in driving innovation in the marketplace.”
The 2023 top 10 most innovative companies include:
- Toyota
- Apple
- Louis Vuitton
- Trader Joe’s
- John Deere
- Ikea
- Honda
- Amazon
- Bath and Body Works
- Costco
The full list can be found here.
The survey also analyzed a company’s Social Innovation Index (Sii), defined as innovation that benefits society and the environment based upon the experiences of customers. “This study captures social innovation from the most important stakeholder of a firm, the customer,” noted Charles Colby, chief methodologist at Illuminas. “This customer viewpoint is a better predictor of loyalty and company performance than metrics provided by outside experts.”
Consumers also ranked auto and retail brands high for social innovation, with the top 10 brands featuring:
- Toyota
- Honda
- HealthNet
- Loan Depot
- John Deere
- Ford
- Trader Joe’s
- TIED: Williams-Sonoma and Navy Federal Credit Union
- Chime
6th Annual American Innovation Conference
The top 25 Aii leaders of innovation will be honored at the 6th annual American Innovation Conference, hosted by the Gabelli School of Business on Fordham University’s Lincoln Center Campus in Manhattan, on November 14, 2023. Executives from these leading brands will share insights about the ways in which innovation is encouraged and cultivated within their organizations, and how consumers ultimately benefit.
REGISTER FOR THE CONFERENCE HERE
About the American Innovation Index™
Through the combined research efforts of Fordham University’s Gabelli School of Business, Illuminas, and the Norwegian School of Economics, the American Innovation Index™ scores and ranks the innovativeness of U.S. companies based upon customers experiences. The 6th annual study was conducted in July-August 2023, and covers 200 firms from 20 industries, spanning travel, financial services, technology, communications, retailing and manufacturing. The study surveyed 7,383 consumers and covered 32,925 customer-company relationships. No large-scale, scientifically vetted measure of customer-perceived innovation exists in the United States. The study is part of the Innovation Index Coalition (IIC), which includes parallel studies in 10 countries. For more information about the Aii and a full list of company rankings, visit here.
About Fordham University’s Gabelli School of Business:
Founded in 1920, the mission of the Fordham University Gabelli School of Business is to inspire and empower positive global change, developing students into compassionate business leaders and supporting faculty members and students in the ongoing generation of new knowledge. The Gabelli School has become a driver of social innovation by equipping graduates to be business leaders who understand and meet the need for sustainability in business and who are able to harness the power of social responsibility for both financial success and societal impact. Through its many graduate and undergraduate degree programs and a diverse range of faculty research initiatives, the Gabelli School of Business works collectively to redesign business as a sustainable force for prosperity. The Gabelli School of Business is home to the Responsible
Business Center, a platform for interdisciplinary engagement in ESG and sustainability that fosters cross-industry collaboration and action towards ESG, advances research, and supports business school learnings.
About Illuminas:
Illuminas is an outcome-based marketing research firm that has been advising Fortune 500s, mid-sized firms and non-profits on their innovation and marketing strategy for over two decades. us.illuminas.com Illuminas partners with the Responsible Business Center at the Gabelli School of Business on a comprehensive research program which includes the American Innovation Index™ (www.Americaninnovationindex.com), a program that includes an annual conference at Fordham University, during which companies discuss commercial and social innovation.