Groupon landed the top spot on Fast Company's list of 10 Most Innovative Companies in Retail. In fact, only five brick & mortars -- Trader Joes, Marks & Spencer, IKEA, Starbucks and Urban Outfitters -- made the cut.
The business magazine credited Groupon for "integrating web and the real-world shopping experience, changing consumer behavior, democratizing small businesses, and spawning an entire new category." It also claimed Groupon was the fastest-growing company in web history, earned a profit within its first seven months, and led to "more than 500 copycat sites" globally.
Trader Joe's, coming in second, was praised for "becoming bigger than Whole Foods while retaining its down-home image." By stocking "a winning combination of yuppie-friendly staples (cage-free eggs, organic blue agave sweetener) and affordable luxuries," Fast Company said Trader Joe's stores are generating an estimated $1,750 in merchandise per square foot, more than double the level of Whole Foods.
In third, Marks & Spencer was praised for its sustainability progress, including leading the way in charging for plastic bags, significantly reducing packaging, launching a clothing recycling venture with Oxfam, and reducing the impact of the materials it uses on deforestation.
The rest of the list follows:
4. Amazon "for leading the way into the digital book market with the Kindle -- and setting off a major shift in the public's reading habits," as well as for its dominance of online retailing.
5. eBay "for leading the charge on mobile commerce." Fast Company's editors noted that this year alone, eBay expects to sell $4 billion in goods via smartphones and tablets, more than double its figures from 2010 and well above those from any other retailer. Its core iPhone app has been downloaded some 15 million times.
6. Apple "for creating platforms and products that breed entirely new businesses," including the App Store, iTunes 10, the Apple TV digital storefront, and the iPad.
7. Starbucks "for listening to its customers -- really." Out of the nearly 98,000 ideas have been submitted to MyStarbucksIdea.com, 100 have been adopted. These include donating unsold pastries to homeless shelters, giving baristas name badges, selling reusable sleeves, and bringing back Salted Caramel Hot Chocolate.
8. Shopkick, the location-based shopping app, for "bridging the in-store and mobile retail experience." Fast Company's editors noted that beyond rewarding customers as they enter a store, Shopkick's app also guides users through physical retailers, letting them see reviews and multimedia content.
9. IKEA for its eco-initiatives, including selling used furniture online in Sweden as well as investment in developing alternative energy solutions and lighting products.
10. Urban Outfitters "for nurturing very distinct, successful, and quirky retail brands, including the youth-oriented Urban Outfitters, the romantic and sophisticated Anthropologie, and the high-end, bohemian Leifsdottir."
Fast Company is certainly not the only publication with an annual awards list. Apple landed in first in Fortune Magazine's list of the top-50 "most admired" companies, which rates innovation as well as people management, social responsibility and financial soundness. Also making the cut were Amazon (7), McDonald's (10); Walmart (11), Starbucks (16), Nordstrom (17), Target (22), Nike (24), Costco (29), Best Buy (36), eBay (45), and Lowe's (49).
Amazon came in first in Forbes' 150 "most reputable" companies, which measures how companies are esteemed, admired, trusted and liked based on surveys of the general public. Other retailers landing on the list were Kohl's (13), Staples (19), Lowe's (21), Target (23), Home Depot (24), Macy's (26), JC Penney (27), CVS (30), and Kroger (36).