Roy Morgan Most Trusted Brand Award winners revealed
Bunnings has taken the ‘Best of the Best’ crown at the 2024 Roy Morgan Trusted Brand Awards, while ALDI has knocked Woolies off the perch as the top rated supermarket.
The annual awards celebrate the trust established cross 20 categories including supermarkets, retail, automotive, superannuation, media, banking, telecommunications, and more.
The past two years have seen Woolworths top the list as the ‘Best of the Best’, but due to ongoing consumer issues, ACCC enquiries, and Federal Court proceedings, the brand has become one of the most distrusted. Earlier this year, it dropped from second place in March to not even making the top 30.
Coles has also lost its position as one of the most trusted brands in Australia, as it also plummeted down the list earlier this year, from ninth to 226th.
According to Roy Morgan, the decline in trust, combined with sharp increases in distrust, has fundamentally altered public perceptions of these brands. And while these brands have installed new leadership with hopes of restoring what’s been broken – this process is likely to take several years.
This year’s awards featured five new winners – ALDI in the supermarket and convenience store category, Australian Red Cross in charities, Bupa in private health insurance, Sydney Water in utilities, and CSL in the new pharmaceutical category.
Meanwhile, returning winners included Kmart, Toyota, Australia Post, NRMA, the ABC, and Samsung, among others.
However, it was Bunnings that topped the list, taking home the ‘Best of the Best’ accolade.
Having consistently ranked among the top three most trusted brands in recent years, Bunnings has maintained high levels of trust, according to Roy Morgan.
Chief executive of Roy Morgan, Michele Levine, said the last few years have provided plenty of “trials and tribulation”‘ for Australians and brands, which has produced clear winners and losers.
“There were some businesses that outperformed expectations during the pandemic, most notably our most well-known supermarkets, and have since plunged in public esteem as questions about record profits and alleged ‘greedy’ behaviour has seen their trust levels plummet, and distrust soar,” she said.
“These examples show that it takes a special type of business to nimbly negotiate very different circumstances and this year’s ‘Best of the Best’ Most Trusted Brand Award winner Bunnings has certainly proven nimble and ready for any challenge that arises.”
She said the retailer’s ‘Lowest Prices Are Just The Beginning’ policy has “clearly worked”, as it cements trust in consumers in a way no other brand has.
The full winners list [Click to enlarge]
“The importance of trust in our world is often under-appreciated, but the Roy Morgan Trusted Brand Awards show that maintaining trust is vital for a business to succeed and that without trust the world we live in doesn’t function and the simple day-to-day rhythms of life aren’t possible,” Levine concluded.
Related Content
SUBSCRIBE
Sign up to our free daily update to get the latest in media and marketing.
I wish Bunnings had more competition.
Bunnings did have competition. It was called Masters, and had serious backing.
Bunnings is world class, credit where credit is due please.
Bunnings did have competition. It was called Masters, and had serious backing. Credit where credit is due pls.
‘Woolworths the price gouge people…’ – Throw people in jail!