The latest data from Roy Morgan Research revealed that Bunnings has overtaken Australia’s two supermarket giants to become Australia’s most trusted brand.
The research revealed the most trusted and distrusted brands in the 12 months to December 2023. Bunnings held onto the top spot; however, Woolworths and Coles slipped down the rankings. Woolworths lost its crown after a three-and-a-half-year stronghold, slipping down one place into second. Aldi and Kmart moved into third and fourth place, respectively, while Coles slipped into fifth.
What is most interesting, in our opinion, is that since the FY23 Profit announcements, we have fallen into negative net trust/distrust scores, a mark they have both been well above since 2019. We can expect the next update that the 2 largest retailers may move further down the rankings as cost-of-living pressures continue and the focus has been on the major Retailers with claims of price gouging and the ongoing senate inquiry into the Supermarket industry. Aldi has not seen big impacts during this time.
Source: Roymorgan.com
