Bunnings has been crowned Australia’s most trusted brand in a dramatic reversal of loyalty that dethroned the former favourite, Woolworths.
A recent survey from research company Roy Morgan revealed the hardware company had taken out the top spot more than three years after it was usurped by the supermarket chain.
Roy Morgan chief executive Michele Levine said Bunnings had shown the largest improvement in trust among all the brands surveyed.
“Bunnings is a brand with a vast reservoir of goodwill and reputational strength fed by dramatically more trust than distrust,” he said.
“Its trust has been climbing steadily over the past year”.
The company’s win came as Australians recorded a deepening distrust for many businesses, citing reasons such as unaffordable prices, corporate greed, unethical practices and dishonesty.
Ms Levine said Bunnings had been able to buck the trend by demonstrating the qualities important to customers, such as customer service, communication, and expertise and product knowledge.
Loyal Bunnings customers surveyed by Roy Morgan highlighted the hardware giant’s affordable prices, customer service, return policy and product knowledge as reasons they trusted the company.
“Reliable with low prices,” is how one fan described the company.
“Great customer service. Love their welcoming staff. Whether it’s nuts and bolts or a new toilet seat, they have it all (for) value for money,” another told researchers.
While Bunnings rose to the top, customer trust fell for both Woolworths and Coles.
Woolworths fell one place to be the second most trusted brand in the country, while Coles dropped two spots to fifth.
Woolworths had previously spent more than three years as the most trusted brand, but recent allegations of wage theft and price gouging have impacted its ranking.
Both supermarket giants are facing an inquiry into the soaring cost of groceries that have enraged everyday Australians.
Woolworths and Coles both reported more than $1bn in annual profits while record numbers of Australians are experiencing food insecurity.
Earlier this week, Woolworths was charged by the Victorian Wage Inspectorate with more than 1000 criminal charges over the alleged underpayment of long service leave.
However, not all supermarkets were caught in the downward trend.
German grocer Aldi rose one place to become the country’s third most trusted brand, while Kmart also rose to take fourth place.
On the other end of the spectrum, Optus remains the most distrusted brand in Australia in the wake of a widespread data breach and the company’s subsequent lack of transparency.
It’s followed by longstanding most distrusted company Facebook and embattled airline Qantas, both of which have endured high-profile legal and privacy battles.