Jun 1, 2023 - Business

Costco ranked second-most trusted U.S. company

Companies with the highest 2023 Axios Harris poll reputation scores
Data: Axios Harris Poll; Chart: Axios Visuals

Washingtonians aren't the only ones who think their locally grown big box store is the best.

  • Among the country's most visible companies, Issaquah-based Costco has the second-best reputation right now, according to survey results released last week.

Details: In the latest Axios Harris Poll 100 reputation rankings, Costco's star rose dramatically.

  • It was the No. 26 most trusted company in 2022, but came in at No. 2 this year.

What they're saying: "I think Americans are flocking toward brands that feel secure, stable, familiar and patriotic," Axios' Sara Fischer told Niala Boodhoo on a recent episode of the Axios Today podcast.

  • That's a change from six or seven years ago when Americans were "flocking to the new, shiny, unknown things," Fischer said.
  • In 2023, by contrast, "consumers are really flocking toward tangible goods, things they understand."

Plus: Inflation is another factor at play in Costco's surging popularity, Axios' Margaret Talev told Boodhoo.

  • "A number of companies that did well this year did well because part of their brand is affordability, or they can be used to counter inflation," said Talev, who named Costco as a prime example.

Meanwhile, want to know which company dropped 50 slots since last year? Tesla.

Of note: Amazon came in at No. 8, while Microsoft was ranked No. 15.

Go deeper: Axios Harris Poll 100 — Year of the tarnished titans

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