Research firm, Roy Morgan, recently revealed that Bunnings emerged as Australia’s most trusted brand during the COVID-19 crisis. Woolworths was the second most trusted brand and Qantas came in third according to the Roy Morgan Risk Monitor.
It is also interesting to note that the Roy Morgan Risk Monitor asks Australians to name, (without prompting), brands they trust and distrust, and to give detailed, open-ended reasons for their choices. Roy Morgan also recently reported that over 7,000 Australians provide the research company with a detailed list of brands they trust and tell them why.
“While from a base of around 800 different brands mentioned each year, we track approximately 200 brands across 25 industries that are mentioned with regularity,” Roy Morgan reported.
Add this up and 7000 Australians equates to around 0.02% of the population.
In saying this the retail sector emerged as Australia’s most trusted industry, with the supermarket sector second and consumer products third, according to the Bandt.com.au report.
The top 10 listed brands during COVID-19 included: 1. Bunnings, 2. Woolworths, 3. Qantas, 4. Aldi, 5. MRMA, 6. ABC, 7. Australia Post, 8. Coles, 9. Bendigo Bank and 10. CBA.
Despite accusations of price gouging, delivery problems, and supply chain failures Woolworths rode the storm best and came out really trusted by Australians, Roy Morgan Chief Executive Officer, Michele Levine said.
“But Qantas and the CBA are the standout performers. Qantas was frequently in the media flying stranded Australians home from across the globe throughout the pandemic lockdown. And in early March Matt Comyn, CEO of the CBA, moved quickly to offer financially stressed customers loan payment relief. He had a high profile during the lockdown and that has paid dividends for the CBA’s level of trust,” Ms Levine said.
On the flipside, Facebook and AMP were revealed as the most distrusted brands in Australia during April 2020.
“AMP still struggles to recover from the Royal Commission fallout. As a consequence, AMP’s soaring distrust saw billions of dollars withdrawn from investments under management and the company’s share price plummet by more than 70 per cent,” she said in the report.
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