Renowned for its delicious snags, hardware store Bunnings has jumped three places in the race for Australia’s most trusted brand – just failing to match foreign-owned chain Aldi.
Making its way down under in 2001, it hasn’t taken long for German supermarket chain Aldi to soar to success, with the latest survey by Roy Morgan revealing it has came out on top for the second time in a row.
This isn’t good news for competitors Woolworths and Coles – who have come under fire over the last month in particular over their decision to ban plastic bags.
While Bunnings took second place, Qantas and the ABC followed coming in at number three and four respectively. Comparing the latest findings to the previous survey, Qantas improved one place from fourth spot, and the ABC jumped three places from seven.
Surprisingly (for some, anyway), none of the major four banks were seen in the top 10, with smaller competitor Bendigo Bank the only banking brand to make the top list.
But it’s not good news for insurance company AMP, as Roy Morgan Chief Executive Officer Michele Levine claimed the company declined in trust after revelations swirled in the Royal Commission.
“The banks were already deeply distrusted so any material impact on their market value is up and down. But AMP has never before been so distrusted,” she said. “Seventeen years ago, AMP shares were worth more than $14. Today they’re worth less than $3.50. That’s a drop of 72 per cent.
“AMP’s skyrocketing level of distrust has cost the household brand billions of dollars. According to financial analysts, more than $4 billion has been wiped off the company’s value as a direct consequence of revelations during the Royal Commission.”
Aldi, Bunnings and Qantas have remained in the top five most trusted brands across all surveys since 2017. Meanwhile, for other industry sectors, HCF took out the first spot for private health insurance, netball is the most trusted sport, the ABC is the most trusted media brand and SBS the most-trusted commercial media brand.
Read more: Australia’s most trusted brand today is…
Back in 2015, Dettol was revealed as the brand Australian’s love the most, with Aussie’s obviously loving to keep their homes germ-free, with Colgate, Band-Aid and Panadol also making the top 10 list.