In today’s competitive business environment, U.S. companies are striving harder than ever before to keep up with their customers’ continuously evolving preferences and demands while simultaneously driving innovation. The American Innovation Index™ (Aii), now in its eighth year of providing important insights into the mindset of the American consumer, scores which companies consumers perceive as the most innovative within their sector. Results of the 2025 Aii have just been published, and three multinational industry giants—IKEA, Apple, and John Deere—have secured the top spots.
According to the Index, which is based upon research that is conducted and compiled by Fordham University’s Gabelli School of Business, Radius Global Market Research, and the Norwegian School of Economics, those companies that stand out from their competitors in the minds of consumers do so because of their products and services (including continually introducing new ones, offering variety and stylish design, striving for excellence) and being first to market with new ideas. The top 10 companies, listed below, consist of a variety of household brands in industries that range from automotive and consumer durables/equipment industry to general merchandise retailers and etailers to specialty retailers, yet in the minds of consumers they consistently deliver on the qualities that matter most. The full index goes far beyond these categories, focusing on 16 industries.
The Aii is the only index that ranks the level of innovation based upon consumer perceptions and interactions with a company, making it unique in that it measures innovation from the customer point of view rather than on expert opinions, which bypass customers’ experiences”
“The Aii is the only index that ranks the level of innovation based upon consumer perceptions and interactions with a company. It is unique in that it measures innovation from the customer point of view rather than on expert opinions, which often ignore customers’ experiences,” said Barbara M. Porco, Ph.D., CPA, CFF, managing director at Fordham University’s Gabelli School of Business’ Responsible Business Center (RBC). “While the index measures innovation, consumers also favor companies that are secure, easy to do business with, have a strong web presence, and have a customer-friendly website and app that makes it easy to conduct business, are those most likely to rank in the top positions.”
“This study captures consumer sentiment in a variety of ways,” noted Gina Woodall, vice president at Radius and study lead. “Companies that are seen as innovative by their customers are overall more appealing and garner greater loyalty, ultimately achieving higher success than others.”
Two interesting observations gleaned from the Index include the fact that, while it is often assumed value for the money and reward programs are most important to consumers, these factors are not key in determining whether a company is considered innovative. In addition—at this early stage—the use of AI by a company does not seem to be a major factor in the ways in which consumers perceive it as being innovative or not.
The 2025 top 10 most innovative companies as chosen by consumers include:
- IKEA
- Apple
- John Deere
- Amazon/li>
- Microsoft
- Honda
- Toyota
- Samsung
- Saks Fifth Avenue
- Victoria’s Secret/Pink
The full list can be found in the Aii 2025 Market Summary Report.
The survey also analyzed a company’s Social Innovation Index (Sii), defined as innovation that benefits society and the environment based upon the experiences of customers.
Consumers also primarily ranked automotive brands high for social innovation, with the top 10 overall brands including:
- Honda
- IKEA
- John Deere
- Ameriprise Financial
- Saks Fifth Avenue
- Toyota
- Ford
- LG
- General Motors
- SoFi
8th Annual American Innovation Index Now Part of the Good Business is Good Business Conference
The 4th Good Business is Good Business Conference, featuring the 8th Annual American Innovation Index, brings together business leaders, innovators, and academics to explore how innovation and responsibility intersect to drive sustainable growth and social impact.
The morning program spotlights the latest insights from the American Innovation Index™ and Social Innovation Index™, highlighting how customer-perceived innovation is reshaping industries. Through keynotes, panels, and fireside conversations, attendees will gain a deeper understanding of how AI, social responsibility, and customer trust are transforming the business landscape.
In the afternoon, the focus shifts to Good Business: exploring emerging approaches such as natural asset companies, transparent sustainability reporting, and forward-looking models of responsible leadership. With contributions from industry experts and faculty thought leaders, the program underscores how innovative thinking and social responsibility together define the future of business.
By the end of the day, participants will leave with actionable insights, research-driven perspectives, and real-world examples of how to align innovation with responsibility to create meaningful impact for customers, communities, and society.
The Good Business is Good Business Conference will be held March 12, 2026 at Fordham University.
Retail Banking Innovation
The most innovative retail banking providers in the U.S. hail from a variety of sectors and include fintechs, online banks, the nation’s largest credit union, and credit card companies. The 2025 American Innovation Index™, now in its 8th year, rated 22 leading financial service providers on the American Innovation Index Score, a metric derived from customer ratings based on their innovation experience with these companies. The researchers have found that the scores used in these rankings have a positive link to customer satisfaction, loyalty, brand attractiveness, share of wallet and stock returns.
The most innovative retail banking providers include the fintechs, Chime and PayPal/Venmo, the country’s largest credit union, Navy Federal Credit Union, USAA, Cash App/Square, Ally, and Visa. The firms rated in the survey include the nation’s largest retail banks, but these institutions tend to rate lower in innovation than fintechs and credit card providers. In the current marketplace, the distinction between different types of financial services providers is blurring as fintechs offer FDIC insured products through partner institutions while credit card providers offer a diverse range of banking products, including savings accounts. At the same time, online applications are diminishing the value of physical bank branches.
The survey provides a deeper look at what distinguishes the innovators from other firms in the sector. The most common perceptions of the most innovative financial service firms include: being safe and secure to do business with; always being available when needed; providing fast and responsive service; having an excellent mobile app; having exceptional products and services; providing all the tools necessary for the customer to do all their banking without needing help; and offering an excellent website experience. The majority of customers of the top innovators feel these features describe the companies “very well”. Some of these features are uniquely associated with the innovators in this space (i.e., there is a wide gap in perception compared to other firms), including: having an excellent mobile app and providing fast and responsive service. Being safe and secure is an area where all institutions perform highly, innovative or less so, and this is the single most desirable feature of a financial institution.
One area that has a low association with innovation is ease of visiting a physical branch. Less innovative firms actually perform better in this area than more innovative ones. A minority of consumers across all institutions feel the financial service providers perform well in this area and it is one of the lowest rated features on desirability. While branches might be viewed as a model of the past, the use of artificial intelligence (AI) could be viewed as a model for the future. However, less than a third of innovative financial service company customers feel the company does very well in this area and a fifth of less innovative company customers agree. The use of AI to improve the customer experience is the least desirable feature out of 21 rated, ranking below branches in desirability.
Retail Banking Social Innovation
The American Innovation Index™ also rated the financial service providers on a Social Innovation Index which reflects the degree to which customers of providers feel the company is innovative in helping society and the environment. The most socially innovative firms include many of the same ones that are commercially innovative, including: Chime, Navy Federal Credit Union, Cash App/Square, USAA, Citizens Bank, TD Bank, Visa, Ally, and PNC Bank. As with commercial innovation, social innovation scores have been shown to link to positive business outcomes.
Features on which the most socially innovative firms perform the best include: treating customers (or members) fairly and respectfully; helping customers save time and money; being trusted to act in the best interest of the customer; showing appreciation for being a customer; and helping customers to rebuild their credit. Of these areas, one where the social innovators really stand far above the rest of the pack is in saving customers time and money, which reflects past research that shows customers tend to view businesses that impact their lives directly to be socially innovative, even if the benefits derive to the customer rather than society.
When customers across the sector are asked to rate the desirability of different social innovation features, the ones that lead the list include: treating customers fairly and respectfully; being trusted to act in the best interest of the customer; offering limited or reduced fees; and helping customers save time and money. Customers have a low awareness of some social innovation areas which could present an opportunity for companies to communicate achievements; at least a fifth of customers across institutions find it impossible to rate performance on: having a diverse workforce; being a not-for-profit organization (credit unions) and offering environmentally friendly products and services.
Hotel Company Innovation
Airbnb is the most innovative lodging brand in the U.S., with several established chains also topping the rankings on innovation. The 2025 American Innovation Index™, now in its 8th year, rated 10 leading lodging brands on the American Innovation Index Score, a metric derived from customer ratings based on their innovation experience with these companies. The researchers have found that the scores used in these rankings have a positive link to customer satisfaction, loyalty, brand attractiveness, share of wallet and stock returns.
The most innovative lodging brand is Airbnb, known for its robust platform for matching stayers and hosts. However, Hyatt and Hilton claimed the next top spots on innovation, showing that established, quality-oriented chains also stand out to their guests as being innovative.
The survey provides a deeper look at what distinguishes the innovators from other companies in the sector. . The most innovative hotel brands are defined as being safe and secure, and easy to do business with. However, these traits are hallmarks of all hotel companies, innovative or not. The study revealed many features that are common to the most innovative brands and uniquely associated with them (i.e., there is a wide gap in perception compared to less innovative brands), including: having exceptional products and services; incorporating stylish and innovative design in their offerings; and adapting to change quickly with the right products and services. While Airbnb can offer uniqueness through its vast network of owner-operated properties, Hilton and Hyatt also invest heavily in new product offerings including brand extensions, guest technology and creating welcoming and inspiring design motifs in their rooms and public areas.
AI isn’t driving the innovation halo (yet) as guests reward the outcomes they can see and feel. Lodging companies may be investing in AI but customers aren’t seeing it yet. Just a quarter of lodging customers rate their brand as performing very well on AI, with little variation across the sector.
Hotel Company Social Innovation
The American Innovation Index™ also rated lodging providers on a Social Innovation Index which reflects the degree to which customers feel the company is innovative in helping society and the environment. The most socially innovative firms include many of the same ones that are commercially innovative, including (descending order of their social innovation score): Hyatt, Airbnb, Marriott, and Hilton. As with commercial innovation, social innovation scores have been shown to link to positive business outcomes.
Features on which the most socially innovative lodging brands perform the best include: helping people save time and money; creating economic opportunities for people; and having reliable products. There is a significant gap between the social innovation leaders and non-leaders on creating economic opportunities for people.
Customers have a low awareness of some social innovation areas which could present an opportunity for lodging companies to communicate achievements. At least a third of customers across lodging brands find it impossible to rate performance on: donating to and supporting worthy causes; caring for human rights around the world; advocating for social justice and equality; and fostering education, learning and exchange of ideas.
Want to learn how customers define innovation in your industry? See how the latest findings can inform your strategy.
About the American Innovation Index
Through the combined research efforts of Fordham University’s Gabelli School of Business, market research company Radius, and the Norwegian School of Economics, the American Innovation Index™ scores and ranks the innovativeness of U.S. companies based upon customers’ experiences. The 8th annual study was conducted in May-June 2025, and covers 164 firms from 16 industries, spanning travel, financial services, technology, communications, retailing and manufacturing. The study surveyed 5,145 consumers and covered 24,236 customer-company relationships. No large-scale, scientifically vetted measure of customer-perceived innovation exists in the United States. The study is part of the Innovation Index Coalition (IIC), which includes parallel studies in 9 countries. For more information about the Aii and a full list of company rankings, visit here for the full market report.
About Fordham University’s Gabelli School of Business
Founded in 1920, the mission of the Fordham University Gabelli School of Business is to inspire and empower positive global change, developing students into compassionate business leaders and supporting faculty members and students in the ongoing generation of new knowledge. The Gabelli School has become a driver of social innovation by equipping graduates to be business leaders who understand and meet the need for sustainability in business and who are able to harness the power of social responsibility for both financial success and societal impact. Through its many graduate and undergraduate degree programs and a diverse range of faculty research initiatives, the Gabelli School of Business works collectively to redesign business as a sustainable force for prosperity. The Gabelli School of Business is home to the Responsible Business Center, a platform for interdisciplinary engagement in ESG and sustainability that fosters cross-industry collaboration and action towards ESG, advances research, and supports business school learnings.
About NHH Norwegian School of Economics
With partnerships with over 200 universities and business schools worldwide, NHH is Norway’s premier choice for business education, ranked on the FT list of business education, and ranked among the top 20 in Europe, serving around 3,670 students and employing 473 faculty and staff. NHH is the founding institution of The Innovation Index Coalition (IIC), which is a global collective of academic research partners who are committed to infusing the customer perspective into the discourse surrounding invention and innovation. IIC was founded in 2023 by researchers from The Norwegian School of Economics, and it now includes prominent institutions in 9 countries. The driving force behind this collaboration is the seminal work carried out in the development of the Norwegian Innovation Index (the world’s first customer-based ranking of most innovative firms) at The Norwegian School of Economics in 2016.
