IKEA, Volvo Cars and Volvo Trucks are this year’s winners of Purposeful Brands 2018 in the corporate category. Folksam have fallen significantly, while Sandvik, Vattenfall and SSAB are climbing. Our reoccurring study, Purposeful Brands, lists which companies the Swedish people see as the most purposeful and why.
For the third year running, IKEA and Volvo Cars have placed themselves at the top in the corporate category, and Volvo Trucks have climbed to third place, when 1,500 Swedes rank Sweden’s most purposeful companies.
“We see a top duo that are playing in their own league compared to many other well-known Swedish brands”, says Johan Ekelin, co-founder and partner of Lynxeye. “They have had a clear future-focused strategy for years that they have relentlessly been working towards and they have succeeded in building values that the Swedish people identify with. They are perceived to have a higher meaning, which has become increasingly important when it comes to driving customer loyalty and expanding your business today.”
An award ceremony was held on stage by Christian Ihre, co-founder and partner of Lynxeye, at the Progress with Purpose Summit 2018, PRPS18, which is arranged by Lynxeye together with the Swedish business magazine Veckans Affärer and the communications magazine Resumé.
Of the top three brands, IKEA rests safely at the top and strengthens its position with high scores throughout the whole study. In keeping with previous years, IKEA is perceived to be responsible, innovative and visionary.
“The Swedish people believe that IKEA takes social and environmental responsibility to a higher degree than many other companies. The Swedish people have confidence in IKEA”, says Jessica af Sandeberg, responsible for Purposeful Brands 2018, at Lynxeye.
Responding to why Swedes see IKEA as the most purposeful brand in Sweden today, Anna Pilkrona Godden from IKEA says:
“We hope and believe that people see IKEA as something more than just a retailer. We hope that they see that our commitment to sustainability issues and our strongly held views on various matters, and our strong position in Swedish society is at the foundation of all we do and stand for. That we create better everyday lives for many people – which encompasses our coworkers, everyone that works for the thousands of suppliers IKEA has all over the world and of course our customers. That all people, including those with a lower income, should be able to have a beautiful and functional home.” (Editor’s translation.)
In second place, we find Volvo Cars, which retains its position as one of the most purposeful brands in the eyes of the Swedish people.
“Volvo Cars is perceived to be responsible and to be one of the big corporations who take the most responsibility for our environment in Sweden today”, says Jessica af Sandeberg, responsible for Purposeful Brands 2018 at Lynxeye.
“Volvo Cars maintains its strengths in being perceived as innovative and visionary. The company is not afraid to test new value models and partnerships. People probably perceive that Volvo wishes to create innovative and visionary solutions for mobility in the future – and the company is rewarded by its customers for this”, says Johan Ekelin, co-founder and partner of Lynxeye.
Volvo Trucks strengthens its position and takes ICA’s place in the top three.
“A good year for Volvo, which has not only taken one of the top positions, but two. Impressive as a B2B brand placing itself at the top, Volvo trucks is perceived to take responsibility for our environment to a larger degree than many other big corporations. They are also perceived as visionary and innovative,” says Jessica af Sandeberg, responsible for Purposeful Brands 2018 at Lynxeye.
Sandvik, Vattenfall and SSAB are climbing their way up the list. Sandvik has jumped from 21st to 7th place, Vattenfall from 25th to 14th and SSAB has climbed 11 places up the list. Folksam has on the other hand fallen significantly from 13th to 25th place.
Purposeful Brands 2018
Purposeful Brands Facts
- 1,500 respondents in Sweden from 18 to 65 years old
- Buyer of study: Lynxeye
- Data collection in Norstat’s web panels with a nationally representative sample
- Earlier Purposeful Brands studies have shown that purposeful brands are defined by five factors; responsible and innovative is an example of two of these
- Methodology: the respondents are allowed to choose one or more brands that they believe are best characterized by a number of associations such as Is a thought leader in its category, Has values I believe in, etc.
For more information, please contact
Jessica af Sandeberg, responsible for Purposeful Brands 2018 at Lynxeye