Live Data: Consumer Opinion In Auto, Luxury, Retail & Travel

Live Data: Consumer Opinion In Auto, Luxury, Retail & Travel
Automotive

PSFK's new Brand Innovation Tracker helps us quantify winners and losers across market sectors

Piers Fawkes, PSFK
  • 4 may 2018

Our new index not only reveals the most innovative brands (and some of the least) but also provides insight into the health of some of industry sectors. In April’s data, we can see how automotive, luxury and apparel brands seem to sit within the same strata and that you can therefore tell that some sectors are (considered) more innovative than others.

RETAIL

With Amazon topping our poll for the second month in a row, the sector is considered one of the most innovative business areas. We can argue that this is driven by a reaction to Amazon. Still, it’s interesting to see that after Nike, Sephora and IKEA the list is all in the sub-40s.

We should also note how poorly Zappos and eBay are doing in the chart considering they are both ‘tech’ companies. It does seem that eBay has been trying to change recently, but there’s rarely any news about new ideas developing at Zappos these days

Three retailers that face disruption: Tesco, Zappos and Home Depot.

APPAREL

In apparel, the sportswear brands outpace their premium and mainstream rivals. It’s no surprise: We regularly talk on PSFK about the experimentations of Nike and Adidas while we rarely write about the work of up-market brands like Ralph Lauren and Chanel.

AUTOMOTIVE

Naturally the chart is lifted by the ridesharing companies, but it’s still interesting to see Audi go toe-to-toe with Lyft. The rest of the field is spread out and it’s probably not surprising to see VW and Ford hovering around the 30 mark.

Two car-brands that need to innovate fast: Jeep and Chrysler.

LUXURY

None of the luxury brands that we’ve surveyed are yet considered by consumers as very innovative. The apparel-related brands do much better than the travel brands, but it’s still surprising to see how poorly Detroit luxury brand Shinola does considering the hype around its launch a few years ago.

Two brands ripe for disruption are the jewelry brands: Tiffany and Cartier.

TRAVEL

Of course, Airbnb outshines the rest of the field, and the airlines do a better job at being innovative than the hotels. Although when we look closer, we can see it’s the long-haul carriers who are being recognized as innovative—the U.S. domestic airlines do terribly.

We’ve really only surveyed luxury hotels so far for the tracker and considering the price they sell rooms for, its surprising how out-of-date people think those brands are.

While the whole sector still should see a lot of change, Delta and Ritz Carlton seem the major candidates for disruption. I know that there’s a lot of love for these two brands but I think we need to get past that and realize the brand innovation perception.

FINAL TAKEAWAY

The question remains, does innovation protect a sector from disruption or does disruption make a sector more innovative? Has Amazon driven retail to be considered the most innovative sectors in business? Has Airbnb helped the hospitality sector up their game? From the survey, it looks like luxury and airline sectors are ripe for a major new entrant to drive change in those markets—and who knows? Maybe that would help vastly improve the customer experience.

PSFK Innovation Tracker

Our new index not only reveals the most innovative brands (and some of the least) but also provides insight into the health of some of industry sectors. In April’s data, we can see how automotive, luxury and apparel brands seem to sit within the same strata and that you can therefore tell that some sectors are (considered) more innovative than others.

+Adidas
+amazon
+analysis
+audi
+Automotive
+Brand Development
+Cartier
+Chanel
+chrysler
+consumer goods
+Delta
+Fashion
+fashion / apparel
+home
+Home Depot
+ikea
+Innovation
+Jeep
+Luxury
+lyft
+nike
+ralph lauren
+retail
+Ritz-Carlton
+sephora
+shinola
+Tiffany
+travel
+uber
+USA

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