Ferrero is the top-ranked food and beverage company on this year’s Global RepTrack 100, a measure of corporate reputation for the world’s leading companies. The confectionery company came in at #19.
A total of nine food and beverage companies made the list:
- #19 – Ferrero
- #30 – Barilla
- #43 – Kellogg’s
- #47 – Lavazza
- #54 – Danone
- #56 – Hershey
- #59 – Nestle
- #76 – Campbell’s
- #77 – Kraft Heinz
As a whole, companies’ reputation scores declined for the first time since 2018. Scores went down across all of the reputation drivers RepTrak measured: products and services (-0.2), innovation (-0.5), workplace (-1.2), conduct (-0.6), citizenship (-0.8), leadership (-0.5), and performance (-0.2).
The food, beverage, and tobacco industry was no exception to this trend – although the industry as a whole still retained a “strong” rating, its score dropped to 71.9 from last year’s 73.3.
Also, while Ferrero is the highest-ranked food and beverage company, its ranking (#19) did not change. However, Barilla and Danone, which were were #11 and #18, respectively, in 2021, both saw their rankings decline. Mars fell off the list this year, while Campbell’s made it on.
The impact of reputation on a company’s bottom line is difficult to quantify, but for the environmental, social, and governance (ESG) factors, RepTrak also analyzed consumer’s willingness to buy. The results showed that a low ESG score translates into a 20% willingness to buy, while a high ESG score is associated with a 60% willingness to buy.
“This year’s ESG results serve as a reminder: it’s not just about what you do, it’s about how you do it,” RepTrack CEO Kylie Wright-Ford commented. “ESG is only increasing in importance, affecting how we buy, trust, and recommend the brands we interact with.”