24/7 Insights

• • Chick-fil-A, once America’s best-ranked fast food brand, has seen its top rank dive. 
  • Companies like Starbucks and Ford are also suffering reputational cracks. 
  • NVIDIA is riding high with recent AI success. 
  • Also: Discover The Next NVIDIA

When you think about brands with strong reputations, Chick-fil-A seems above reproach. This latest turn of events is very disappointing for a brand once ranked as a consumer favorite as recently as 2022. According to the Axios Harris 100 reputation ranking for 2024, Chick-fil-A fell 16 positions to 21st, among the biggest downward movements on the Axios list.  

Sandwiched between IBM and PepsiCo, the top brand in the American Consumer Satisfaction Index restaurant category has suffered a hefty fall. What caused this beloved fast-food brand to drop so low in the rankings? There must be some reason why a brand would fall so fast and alternatively, why brand like Fidelity Investments rose 26 spots and ended up third. 

Mighty Chick-fil-A

Much to everyone’s surprise, Chick-fil-A suffered a blow on this list by falling quite a number of positions. Considering the June 2023 American Consumer Satisfaction Index showed Chick-fil-A as the best food brand, it is worth digging into how the company ranked poorly on the Axios Harris study. 

You can go back years and see hundreds of articles online, all hypothesizing why the brand is the most beloved fast-food chain in the country. This makes this whole Axios fiasco so peculiar, as Chick-fil-A must have done something to deserve this revised score that didn’t involve changing any of its famous food recipes. 

Reputational Cracks

For better or worse, Chick-fil-A became a target over the last year of right-wing Americans who were upset by the company going “woke.” The trend kicked off when it was discovered the brand has an executive who oversees its DEI (diversity, equity, and inclusion) policies. 

As a result, right-wing personalities, including those on the far right, started to drag conservative views into mainstream conversation. For a brand closed on Sundays due to the founder’s religious beliefs, this was a blow to its armor, which had looked impenetrable. It is likely the main culprit for the brand’s reputational hit in 2024. 

10. Starbucks Corporation 

• Axios Harris 100 rank: 77

For a long time, people have been boycotting Starbucks for several reasons. This conversation and its buzz through social media have no doubt hurt the company’s overall branding, leading to a drop of 29 spots on the Axios Harris 100 list. Ultimately, Starbucks is ranked 77th, and it’s still above Walmart. Still, between ethics, citizenship, character, and trust, it’s clear that Starbucks has to do more to win back customers who left for many personal reasons. 

The good news for Starbucks is that it still has loyal customers and makes money, so all hope is not lost. While customers will forever groan about pricing, Starbucks is still one of the best places to hang out and enjoy a drink. Starbucks needs to focus on this more than social programs, which have led to some boycott movements gaining momentum across social media. 

9. Kohl’s

• Axios Harris 100 rank: 66

There is no question that Kohl’s, one of America’s best-known affordable clothing retailers, has attempted to turn around its reputation. Unfortunately for Kohl’s leadership, the Axios Harris poll shows the brand still has work to do to regain customer confidence. There is much work to do with Kohl’s between the company trajectory, which ranked 79th, and its vision, which ranked 81st. 

This is even more true when considering concern over the company’s growth, which ranks 84th on this list. Recent rumors over a potential Amazon buyout likely contributed to the first survey establishing this Axios Harris poll in January 2024. Ultimately, Kohl’s is still a multi-billion dollar brand that will not soon disappear, but increasing retailer competition is squeezing profits. 

8. Ford Motor Company 

• Axios Harris 100 rank: 55

Ford is the world’s second-largest U.S.-based carmaker and the sixth-largest worldwide, and it is one of the most common household names for any American brand. However, Ford’s reputational luck has taken a hit recently. Dropping 23 places to 55th place on the Axios Harris list, Ford has to regain the trust of its buyers as there is still a concern over overall reliability. 

One of the world’s original automobile manufacturers, Ford has long been held in high regard. Unfortunately, concern over Ford’s ethics, growth, products, trajectory, and character impacted the company’s overall performance on the Axios Harris poll. 

7. CVS (CVS Health) 

• Axios Harris 100 rank: 36

Toward the end of March 2024, CVS unveiled an effort by the brand to transform its customer experience. After seeing the company drop 17 places on this list to be ranked 36th, CVS Health needs some help. Of course, according to J.D. Power, this isn’t the first time CVS has had trouble with consumer satisfaction, as the company has ranked below the industry average for customer satisfaction. 

In the Axios Harris poll, CVS’s score reminds us that the company has its work cut out to make a turnaround. It was only last November that reports started showing up that employees were walking out on the job. While CVS has no issues with name recognition, the Axios report indicated the company has trouble with its vision, culture, and overall company trajectory. 

6. American Express

• Axios Harris 100 rank: 31

When you think about other brands that may have fallen from grace alongside Chick-fil-A, American Express is one of those brands. Ranked 31st on the Axios study, American Express dropped 14 places year-over-year. Among its difficulties, trust has likely been eroded slightly for Amex customers as the company was hit by a data breach that exposed customer data. Anytime a scenario like this occurs, there is generally an associated reputational hit, and the second survey for the Axios study took place right around the time the data breach was exposed. Hence, it’s one reason for the drop. 

In addition, the vaunted credit card company saw itself rank 41st in products and services, which is a definite decline. The company also had a decline in company character, which is also likely to be attributed to the timing of the second survey and the exposed data breach taking place at the same time. 

5. Adidas 

• Axios Harris 100 rank: 5

Adidas has one of the more interesting backstories as a shoe brand. Second only to Nike as the largest sportswear brand, Adidas was started in Germany in 1924 by two brothers. When the two brothers, Adolf and Rudolf, disagreed in 1949 about the company’s direction, Rudolf left and established Puma, one of Adidas’ largest rivals in the shoe world. Today, Adidas is a $22 billion global brand focusing on apparel, footwear, sportswear, and sports equipment. 

According to the Axios Harris 100 poll, Adidas jumped 17 places to the fifth spot on the list. Its rise in company trajectory, vision, and products and services was the backbone of its massive jump on this list. However, Adidas’ vision, trust, and brand character certainly played a role for those polled on this survey. 

4. Sony

• Axios Harris 100 rank: 4

Flying high on the success of the PlayStation 5, Sony’s reputation jumped up eight places in the 2024 Axios 100 study. As a multinational conglomerate, Sony has its hands in many areas, including movies, televisions, audio, computers, and more. However, its success with the PlayStation 5, which is handily winning this generation of video games, is arguably one of the reasons the company has seen its reputation move in the right direction. 

Founded in Japan in 1946, most people had their first experience with Sony thanks to the portable walkman. Since then, it’s been primarily uphill for Sony as its computers and televisions have long dominated homes in America and around the world. Today, its position as one of the largest electronics brands is dominant and one of the reasons why the company’s growth and vision rank high with Axios. 

3. Fidelity Investments

• Axios Harris 100 rank: 3

The highest-ranking financial brand on this list, Fidelity Investments, had a substantial year-over-year jump. Moving up 26 places to number 3 in the Axios 100 2024 ranking, Fidelity leapfrogged any number of brands that you might have otherwise considered to have stronger reputations. The combination of Fidelity’s culture, vision, ethics, trust, character, and trajectory is reason enough to jump so many places. 

Founded in 1946, Fidelity Investments has long been one of the largest multinational financial services companies. As of December 2023, it had over $13.7 trillion under management. Fidelity’s reach includes mutual funds, investment advice, retirement services, index funds, wealth management, and life insurance. 

2. 3M

• Axios Harris 100 rank: 2

Shooting up nine places, 3M, the multinational conglomerate that makes over 60,000 products, has jumped into the second-place spot. A member of the Fortune 500 for decades, 3M has close to 100,000 employees, and consumers love its products. From laminates to fire protection, window films, paint protection, and adhesive products, consumers have been using 3M products for as long as they can remember. 

This is why it should come as no surprise that 3M earned the #1 category rank for Products & Services, a category it’s unlikely to surrender to another brand. The company also saw a big jump in consumer demand during the COVID-19 pandemic as one of the major manufacturers of N95 respirator masks in high demand. 

1. NVIDIA

• Axios Harris 100 rank: 1

While Chick-fil-A suffered a major drop, NVIDIA remains in the top spot again. As one of the most dominant tech companies on the planet, there is little surprise that NVIDIA has and maintains an excellent reputation. NVIDIA ranked number one among its top category scores for Company Trajectory, Culture, Vision, and Growth. 

With the company quickly becoming a dominant force in AI and its core areas around computer technology, NVIDIA has plenty of room to maintain its dominance on the Axios 100 list for years. On top of everything else, the company’s market cap has recently exceeded the $3 trillion mark, one of only a few companies ever to do so.

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