Saab tops the reputation rankings, fast fashion at the bottom – Sweden’s highest and lowest-rated companies in 2024
Five new companies have entered the top rankings, with Saab flying straight into fourth place alongside Apoteket. Tesla continues its rapid decline at the bottom of the list, which this year is dominated by “fast fashion.” Ikea remains in first place after five years of surveys, while the Chinese clothing company Shein falls further. This is shown by the latest survey from Reputation and Trust Analytics, which reveals how the Swedish public ranks companies’ reputations.
The Swedish business landscape is characterized by rapid shifts in public perception. The fact that five new companies have made it onto this year’s list reflects a dynamic and ever-changing environment where public focus shifts rapidly.
“The rapid changes in the rankings are a clear sign that companies’ reputations are not static. We are also seeing new industries gain prominence in the public consciousness, reflecting a turbulent world that is reshaping priorities and preferences,” says Alexander Widén, senior advisor at Reputation and Trust Analytics.
From an international perspective, the Swedish public is significantly more sensitive to an organization’s reputation than the public in neighboring markets, such as Norway and Denmark.
“Swedes are very sensitive to a company’s reputation, and we act based on our perceptions. We support companies that meet our expectations—and we punish those that don’t,” says Alexander Widén.
The defense industry is gaining traction
The Swedes remain loyal to their national treasure, Ikea, which has topped the list for five years. There have been even more changes elsewhere, with five new companies making their debut on the list: Apoteket, Saab, Willys, Rusta, and Folksam are new additions this year.
“The fact that the defense industry has risen to the top of a Swedish reputation survey would have been unthinkable just a few years ago; now Saab is tied for fourth place with Apoteket, which says a lot about our changing worldview,” says Ingrid Landahl, founder of Comma, experts in crisis management and corporate communications.
The survey is based on which companies come to mind spontaneously when Swedes are asked which ones have a high or low reputation. Respondents are then also asked whether they would consider applying for a job at the company, investing in it, or purchasing its products and services. In this way, the relationship between reputation, stakeholder behavior, and the company’s long-term competitiveness can be measured.
“That’s why it’s also interesting that Apoteket has managed to rank as the top-of-mind brand in the survey. It’s not surprising that Apoteket is perceived as reliable, but here they’ve somehow managed to stand out in an industry where companies have generally struggled to differentiate themselves,” says Ingrid Landahl.
Willys and Rusta are also new entries, which may be because Swedes favor discount retailers during tough times; however, this does not apply to the “fast fashion” sector, where as many as four companies now find themselves at the bottom of the list.
– Unlike the low-cost clothing industry, low-cost retailers in the grocery sector are viewed more positively. This shows how different industries are assessed, rewarded, and penalized in completely different ways, notes Alexander Widén.
Fast fashion dominates the bottom of the list
New additions to the bottom of the list are Temu, Zara, Shell, and Nordea. This means that this year’s bottom of the list is dominated by four fast-fashion companies: Shein, Temu, Zara, and H&M.
“Fast fashion has received a lot of attention this year as an unsustainable industry, with images circulating of dumped textiles, for example. Combined with articles and posts about counterfeit clothing, poor working conditions, and terrible customer service at foreign retailers, this is dragging the industry’s reputation down,” says Ingrid Landahl.
This year's survey also shows that the workplace, accountability, and governance are key factors that strongly influence the public's perception of companies.
“Low-cost clothing retailers are struggling with their reputation. Fast fashion is associated with a lack of sustainability, low quality, and poor working conditions—a combination that erodes both trust and competitiveness,” says Alexander Widén.
Reputation – both an asset and a risk
Tesla's decline has been exceptionally rapid and has continued this year. In 2021 and 2022, Tesla ranked sixth on the list; this year, however, it ranks sixth from the bottom.
“There are both advantages and risks to having a high-profile majority owner. Tesla would never have achieved such rapid and positive success without Elon Musk, but now he has, if anything, become a liability for the brand,” says Ingrid Landahl.
Reputation has the potential to be an immense asset. At the same time, it poses a significant business risk when stakeholders’ perceptions take an undesirable turn.
– A poor reputation is more than just a matter of image—it eats away at the very core of the business. It affects sales, makes recruitment more difficult, and makes it harder to attract investors. Ignoring your reputation is putting your future at risk, says Alexander Widén.
Methodology
Reputation and Trust Analytics maps a company’s reputation and analyzes its impact on stakeholder behavior using a data-driven approach. This year’s analysis, the fifth of its kind for the Swedish market, is based on a two-step process and includes a total of 11,235 validated surveys.
In Step 1, 1,000 Swedes were asked which companies they spontaneously associate with high or low reputation. The 30 most frequently mentioned companies qualified for Step 2.
In Step 2, 4,612 Swedes evaluated these companies using the Reputation and Trust Analytics model. The survey assessed reputation across eight dimensions: governance, financial performance, leadership, innovation, dialogue, product, workplace, and responsibility.
The respondents, who were representative of the Swedish population (ages 15–65, weighted by gender, age, and residential area), also answered questions about their willingness to support companies through purchases, investments, or job applications. The methodology establishes a measurable link between reputation and stakeholder support—that is, companies’ ability to operate successfully and competitively.
Alexander Widén, Senior Advisor, Reputation & Trust Analytics
+46 70 471 23 32
alexander.widen@
Ingrid Landahl, Founder and CEO, Comma
+46 70 657 33 34
ingrid@comma.se
