Rising costs rip into business reputation

Business reputation is eroding due to consumer concerns about rising costs, according to this year's Axios Harris Poll 100, which assigns reputation scores based on seven categories like trust, products and services, vision and culture.Why it matters: Companies that have kept costs low while standing firm on their corporate values rank highest on this year's list. State of play: Trader Joe's, the low-cost grocer known for being values-focused, ranks No. 1 on the list and saw a 3.5-point increase in its reputation score since last year. Costco ranks in the top 5, and Arizona Beverage Co., known for its 99-cent iced tea, joined the list for the first time, coming in at No. 7.The big picture: Consumer sentiment is in free fall, according to a new University of Michigan report.Inflation expectations are higher than those reported in 2022, with respondents pointing to tariffs as potentially inflationary and economically damaging.This comes amid Treasury Secretary Scott Bessent's acknowledgement on Sunday that some consumer prices will likely rise due to tariffs.By the numbers: Spiraling consumer sentiment is likely to impact business reputation and favorability, according to the Harris Poll survey.78% of Americans have noticed the increasing costs of groceries.Meanwhile, 4 in 10 Americans say their overall opinion of companies is declining, with most pointing to inflation as the top reason. However, those surveyed also say that companies with strong values are better protected from reputational damage.What they're saying: The companies ranking highest on the list are "delivering value through their values," says John Gerzema, CEO of the Harris Poll."Americans have shifted their attention almost singularly toward inflation and high prices. And so now, corporate reputation is make or break on allyship: Are they looking out for my bottom line or theirs? The companies that are thriving [this] year are intentional, empathic and most of all, dependable."Zoom in: Clear and consistent corporate values can serve as a safety net, according to the survey.Costco (No. 5) made headlines for upholding its commitments to diversity, equity and inclusion, while Patagonia (No. 2) is known for its pledge to fight climate change.Meanwhile, companies that are viewed by consumers as leaning toward one political ideology — like Ben & Jerry's (No. 24) or Chick-fil-A (No. 26) — rank highly.Zoom out: Potential price increases threaten the reputation of budget-friendly companies like Dollar Tree (No. 75), Dollar General (No. 85) and Spirit Airlines (No. 100), per the rankings.Both dollar stores anticipate disruptions or added costs brought on by President Trump's tariff policies, while Spirit Airlines has introduced premium fares.Meanwhile, Chinese e-commerce companies like Temu (No. 90) and Shein (No. 94) are particularly exposed to tariffs, dropping in score to sit in the ranking's bottom 10%.What to watch: While corporate leaders are signaling potential price increases due to Trump's trade policies, few have publicly opposed the tariffs. According to the Harris Poll survey, more than half of Americans say their opinion of companies would improve if they spoke out against tariffs.More on Axios: Full results and poll methodology

Comments

World news

Released Israeli-American hostage's parents say the small things bring bliss as he recovers

washington times

Teen allegedly stabbed 81-year-old roommate 113 times at assisted living facility after hearing voices telling him to do it

about 3 hours ago

Newark airport sees fourth air traffic control outage in 3 weeks. What is actually going on?

Independent

Comments

Similar News

Sky confirms exact date broadband prices will rise as 'exclusive' deals to end

What is JN.1 Covid variant driving fresh rise in infections across Asia?

Australia news live: Evacuation warnings as NSW flood waters rise; man in his 20s shot dead in Sydney’s south-west

Murder of Colombian model sparks outrage over rising femicides

Senior doctor accused of failures in case that gave rise to Martha’s rule

House prices rise by less than usual in April after stamp duty rise

Prices will rise, Bessent says, as tariff pressure grows

Trump orders Walmart to ‘eat the tariffs’ and stop blaming his trade war for rising prices: ‘I’ll be watching’

Victoria announces free public transport for under 18s, as state’s debt projected to rise

Five tax rises voters don’t hate – but are unlikely to raise enough for Reeves

Moody's downgrades US credit rating citing rising debt

U.S. loses AAA credit rating due to rising debt, interest costs: Moody’s

Russia economy meltdown as food prices rise by 12.66% and Putin faces abysmal harvest

Aubrey O’Day was once a rising star under Diddy’s mentorship. Now, she’s set to be the next key witness in sex-trafficking trial

Rising house prices pushing more over inheritance tax threshold – will you be hit?

GDP rise and a less scary outlook offer Rachel Reeves some rare cheer

Reeves welcomes growth figures as former No 10 adviser says taxes will have to rise in budget – UK politics live

Rotterdam unveils a museum about migration while anti-foreigner sentiment rises in Europe

Bosses of hospitals that spend too much or treat too few will not get pay rise

Rising goods prices could delay UK interest rate cuts, says Bank policymaker

World news

Released Israeli-American hostage's parents say the small things bring bliss as he recovers

Record-setting British climber says he will scale Everest again next year, targeting his 20th summit

A car runs a red light and kills 3 people in Taiwan, including two 12-year-old girls

Taiwan's president downplays tariff tensions with the U.S. as 'frictions between friends'

Iran's supreme leader rejects U.S. stance on uranium enrichment

Slow progress and no major breakthroughs dampen hopes for Russia-Ukraine peace deal

Mexico mourns naval cadet killed when training ship collided with Brooklyn Bridge

Syria's driest winter in nearly 7 decades triggers a severe water crisis in Damascus

U.K. suspends free trade talks with Israel and announces sanctions over West Bank settlers

Trump alleges 'genocide' in South Africa. At an agricultural fair, even Afrikaner farmers scoff

WHO members adopt a 'pandemic agreement' born out of the disjointed global COVID response

A second man is charged over fires at properties linked to U.K. Prime Minister Keir Starmer

Diddy took Obama-shaped ecstasy pills as part of daily drug cocktail, former assistant testifies

Gaza latest: UK condemns Israel over ‘monstrous’ blockade as UN issues plea over famine crisis

Florida high school teacher arrested for having sex with student in classroom before first bell

Why Starmer’s government has waited until now to take action on Israel

White House says Trump is reviewing IVF policy recommendations promised in executive order

Kristi Noem stuns committee with botched definition of fundamental right the White House is threatening to suspend

Valley Fever is ready to slam California again with record-breaking cases: Here’s what you need to know

NHL star gets pepper-sprayed by cops trying to break up a fight - and gives toothless mugshot

Joe Biden wanted to testify at Hunter’s trial – despite packed election schedule, book claims

Horrified Spanish passenger describes how 'English animals' turned Ibiza flight into 'mid-air nightclub'

Empty mailbox: What will be lost if Canada Post goes out of business?

Federal election judicial recount in Newfoundland hits day 8. What's taking so long?

What aid has entered Gaza - and where is it going?

Streets around Saint Mary’s University in Halifax shut down due to bomb threat

Majority of Quebecers want the province to end carbon pricing, survey says

Inmates still on the run, manhunt continues after New Orleans jail break

Vintners and brewers thrilled with supports in Ontario budget

Hockey fans united in support after Jets star Scheifele’s father dies

Veteran midfielder Desiree Scott set for international farewell in Winnipeg hometown

Horror moment soldier's parachute FAILS in Thailand as he plummets to the ground

Solar flares explained from blackouts to stunning auroras as Nasa issues warning

Bella May Culley's 'hellhole' Georgia prison lacking hygiene and running water

Iran Nuclear Talks Are Running Into Red Lines

Tourist faces £168,000 fine after launching huge rock from a clifftop into a gorge at popular Spanish beauty spot

British surgeon's 'high anxiety' operating in Gaza

French paedophile surgeon says he is 'responsible' for deaths of two victims

Italy's Meloni ready to help if Vatican agrees to Trump's war mediation plan

G7 Officials Gather Amid Headwinds From Trump’s Trade War

Six unanswered questions as Bella May Culley rots in hellhole Georgia jail

Teen allegedly stabbed 81-year-old roommate 113 times at assisted living facility after hearing voices telling him to do it

Newark airport sees fourth air traffic control outage in 3 weeks. What is actually going on?

Musk plans to reduce political spending as he steps back from Trump administration: ‘I’ve done enough’

Kid Rock hits back at reports his Nashville restaurant closed to help workers avoid ICE raids

Trump eyes foreign aid funds to remove migrants including Ukrainians who came to the U.S. from war zones: report

What Trump’s dream ‘Golden Dome’ could look like

Maintenance worker arrested for aiding New Orleans jail escape says inmates threatened to ‘shank’ him

Personal secretary and adviser to Mexico City's mayor killed in attack

Stampeders open 2025 pre-season with 26-16 win over Lions

What happened last time Canada Post workers went on a strike?

Hard-right populist who lost in Romania's election to contest result, Sky News understands

First pieces of sunken superyacht brought to surface after tragedy that killed seven people

Nova Scotia kids missing for 18 days ‘weighing heavy’ on community: premier

A glance at the NHL’s Western Conference final between the Oilers and Stars

Play more, pay less – top toy & game deals

Colombian model killed days after Mexican influencer shot dead on livestream