Woolies tops Roy Morgan’s Most Trusted Brands list again
Today, Roy Morgan announced the inaugural winners of the Trusted Brand Awards for 2023, and once again, Woolworths has taken the crown.
Woolworths has consistently been rated the ‘Most Trusted Brand’ for over three years now, and has been named ‘Best of the Best’ for the second year in a row.
Roy Morgan CEO, Michele Levine, said: “The supermarket industry finds itself navigating an increasingly volatile landscape with cost-of-living pressures, and aggressive, even violent customer behaviour.
“Trust is not a static achievement; it is continually tested, particularly in supermarkets,” she continued.
“The consecutive victories for Woolworths are a demonstration to other businesses about the value derived from building trust and enhancing a company’s standing in the wider community. High levels of trust, and low to negligible distrust, are both key factors in attracting new customers which inevitably flows directly through to the bottom line.”
The Roy Morgan Trusted Brand Awards recognise the “outstanding levels of trust built up by 20 brands across a range of different industries and services including supermarkets, retail, department & discount department stores, services, charities, automotive, superannuation, insurance, utilities, government services, media, mining & petroleum, banks, telecommunications and more”, according to the company.
Levine said the 20 winners across the categories have outperformed their competitors yet again, and have maintained high levels of trust in a period of high inflation and rising interest rates.
“The last few years have certainly provided their challenges with a once in a century pandemic transitioning into a period of high inflation and rising interest rates,” she said.
“Inflation has been at its highest for over 30 years and interest rates have increased at their most rapid rate this century. Despite the incredible differences these circumstances present, we have found the vast majority of Australia’s most trusted brands have backed up their performance from a year ago and confirmed their market leading positions with consecutive wins in their categories.”
The full winners list for 2023
Bunnings, Kmart, Toyota, Apple and Australia Post all join Woolworths on the repeat winners list, taking home the retail, department & discount department stores, automotive, technology and services categories, respectively.
This year, there were two first-time winners in Synergy (utilities category) and Virgin Australia (travel & tourism), who took the win from Qantas, after the airline experienced significant turbulence this year.
Levine continued: “The importance of trust in our world is often under-appreciated, but without trust, the world we live in doesn’t function and the simple day-to-day rhythms of life aren’t possible.
“Over the last year we have witnessed many examples of how a lack of trust, and rising distrust, can destroy a brand’s reputation and provide a direct hit to the bottom line. How a brand responds to these challenges can define whether that company has a future or will wither and fade into irrelevance,” she concluded.
Got a tip?
Lauren McNamara is a journalist at Mumbrella, covering the creative and PR beat. She joined in November 2022 as editorial assistant, after completing a Bachelor of Communications (Journalism) at UTS.
Linkedin
Have your say