A poll by Australia’s best known and longest established market research company, Roy Morgan, has seen Bunnings crowned the most trusted brand in the 12 months to December 2023, dethroning Woolworths and breaking the supermarket’s 3-and-a-half-year stronghold.
Coles has fallen from 3rd to 5th place.
Bunnings lost its title as Australia’s most trusted brand to Woolworths in May 2020, however, since October 2022, Bunnings has shown a strong recovery, achieving the largest improvement in trust among all trusted brands.
Australians’ distrust in companies has grown in the last year, with reasons including corporate greed, poor customer service, unaffordable prices, dishonesty, unethical practices, and poor privacy practices.
Bunnings has managed to buck the trend against an economic environment where trust has eroded.
Images: https://pixabay.com/photos/trust-faith-encouragement-1418901/ and Roy Morgan
