ALDI is now Australia’s most trusted brand, according the findings of the latest Roy Morgan Net Trust Score Survey – conducted in July.
Since October 2017, Roy Morgan has surveyed more than 10,000 Australians, asking them to nominate brands they trust and brands they distrust, and why. A Net Trust Score (NTS) is calculated by subtracting a nominated brand’s distrust score from its trust score.
The July 2018 survey revealed Australia’s top 10 most trusted brands – and the most distrusted – with ALDI topping the charts, followed by Bunnings, Qantas, the ABC.
The first two surveys were conducted in October 2017 and January 2018, with a third conducted in February and a fourth in April.
ALDI, Bunnings and Qantas have remained in the top five most trusted brands across all surveys since October 2017.
Bendigo Bank is the only bank Australians seem to trust. It has remained in the top 10 most trusted brands in all five surveys to date.
Meanwhile, the Big Four banks remain in the top 10 most distrusted list and revelations of wrongdoing in the financial services royal commission may not see them move from the list any time soon.
“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,” said Roy Morgan CEO Michele Levine.
“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.”
The survey also found that Facebook was Australia’s most distrusted media brand and among the most distrusted of any sector.
“After all the accusations of fake news, international political interference, and the Cambridge Analytica data privacy scandal, users, employees and advertisers jumped ship,” said Ms Levine.
“Facebook’s distrust score catapulted it into the number one ranking on the Roy Morgan top ten most distrusted media brands, and into the top 10 most distrusted brands in Australia.
“Facebook’s earnings dropped, and its share price plummeted, wiping $US145 billion off its market value.”
However, Facebook managing director Will Easton says Ms Levine’s claims are misleading.
“We expect Roy Morgan to have a more balanced and independent view before making these comments. The comments around users and advertisers are not correct and very misleading to the market,” said Mr Easton.
“Trust is important, and we are working hard on improving this. We’ve made great progress in preventing abuse, fake news, and protecting people’s information, and we’ve undertaken a nationwide advertising campaign to educate people on what we are doing.”
Which brands do you most trust? Would ALDI be at the top of your list? Which bank do you trust most?
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