Innovation has become a buzzword in earnings reports, on par with other frequently used terms like digital, e-commerce, omnichannel, multichannel and mobile. How often brands use the term “innovation” can provide insight into how innovative they actually are, in an unexpected way.
Brands excessively dropping the term are often the non-innovators. L2 did a study tracking the number of times innovation was mentioned in various earnings report, and found that LVMH used the term 52 times, more than Apple, Estée Lauder, and even L’Oréal. In contrast, Apple – the most innovative technology and luxury company in the world – used the word three times. Similarly, Estée Lauder used the word only eight times.
Members can see L2’s full Year in Review briefing here.