Bunnings has again been crowned the most trusted brand in the 12 months to June 2024, according to the latest Roy Morgan Risk Monitor.
The much-loved hardware chain has now held top spot as Australia’s most trusted brand for three consecutive quarters after previous leaders Woolworths and Coles fell down the rankings earlier this year. In fact, the biggest loser in the latest quarterly rankings is Woolworths, which slid a massive 194 places to be the fifth most distrusted brand in the June quarter – almost matching the slide taken by Coles in the previous March quarter. Coles is now the fourth most distrusted brand.
Following Bunnings in the rankings is ALDI in second place and Kmart in third place.
There wasn’t much movement in the top 10 with the exception of Toyota moving up one place to fourth to be just ahead of Apple to fill out Australia’s top five most trusted brands.
Notable improvers outside the top 10 included:
- Bendigo Bank, up two places to 11th
- IGA, up one place to 13th
- Nike, which entered the top 20 most trusted brands list for the first time at 16th
- ING, up one place to 17th
- David Jones, up one place to 18th
“For the first time in a year, we have an unchanged top three most trusted brands in Australia with Bunnings, ALDI and Kmart again filling out the top three positions,” says Roy Morgan CEO Michele Levine.
“Bunnings is the only ‘survivor’ from the top rankings of a year ago, in third at the time behind then most trusted brands Woolworths and Coles. Both are now among Australia’s five most distrusted brands for the first time.
“The rapid slide down the rankings for both major supermarkets – which have each slid more than 200 spots in the rankings this year – shows how quickly distrust can gain momentum and devalue a brand’s reputation.
“The high trust ratings for ALDI, and independent grocer IGA (13th), show that the distrust for the two majors is not industry-wide, as it is their brands specifically which have become associated with ‘price gouging, high profits and corporate greed’ over the last year whereas as their closest competitors haven’t.”