In a world where trust is as valuable as currency, Australians have spoken, and the results are in. Bunnings Warehouse continues to hold the top spot as the most trusted brand in the country, even amidst concerns over privacy practices, including controversies surrounding facial recognition technology.
According to the latest findings from market research giant Roy Morgan, Bunnings has managed to retain its position at the pinnacle of trustworthiness. This is no small feat, considering the privacy concerns raised by the use of facial recognition cameras in their stores.
The Roy Morgan survey, which polls 25,000 Australians annually, scrutinises over 1000 brands across 27 industries. The survey runs year-round, with quarterly results offering insights into consumer perceptions. In a surprising twist, Coles and Woolworths, once the darlings of the retail world, have seen their trustworthiness rankings plummet, now sitting as the second and third least trusted companies, respectively, just behind telecommunications provider Optus.
Despite the privacy commissioner’s findings that Bunnings had breached Australians’ privacy, the hardware giant has not only retained its most trusted status but has also celebrated one year at the top this quarter. Other brands that have held their ground include Aldi, Kmart, Toyota, Apple, and Australia Post, which follow Bunnings in the trust stakes. Meanwhile, Big W, NRMA, and Myer have seen some shuffling in their positions, with Samsung rounding out the top ten.
On the flip side, Qantas, Meta, Telstra, News Corp, Temu, Twitter/X, and TikTok are among the ten most distrusted brands, highlighting the challenges these companies face in the realm of public perception.
It’s interesting to note the dynamic shifts in trust over the past year. ‘A year ago, Bunnings was ranked as Australia’s second most trusted brand – splitting the two major supermarkets Woolworths (first) and Coles (third) on the podium,’ said Roy Morgan chief executive Michele Levine. The dramatic fall of the two supermarket giants by over 200 places is a testament to the volatile nature of consumer trust.
Among the top 25 most trusted brands, Commonwealth Bank, RACQ, JB Hi-Fi, and Chemist Warehouse have seen significant improvements, while IGA, David Jones, ABC, Nike, and Bendigo Bank have experienced drops in their rankings.
These results are particularly poignant, coming just two weeks after the Privacy Commissioner’s ruling against Bunnings’ use of facial recognition technology. The retailer has expressed intentions to challenge the findings at the Administrative Review Tribunal, indicating a complex battle between privacy concerns and corporate practices.
What do you think about the survey results? Have your shopping habits been influenced by your trust in certain brands? Feel free to share your experiences and join the discussion below. Your input contributes to shaping the marketplace and provides valuable insight.
Also read: Most distrusted brands revealed – and those that you have faith in
