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Harvey Norman Enters ‘Most Distrusted Brands’ List, Again

Harvey Norman has been named one of Australia’s most distrusted brands, following criticism over its JobKeeper money grab.

This is according to Roy Morgan’s Risk Monitor survey, which saw Woolies and Coles retain the top two spots in the Most Trusted Brands list.

Bunnings and Aldi sit third and fourth in the Most Trusted list, with Myer and Big W both entering the Top 10, and JB Hi-Fi entering the Top 20.

Harvey Norman, on the other hand, found itself among Amazon, Google, Twitter and Crown Resorts in the least trusted list.

Roy Morgan CEO, Michele Levine explains: “Harvey Norman has been widely criticised this year for vowing to keep the $22 million in JobKeeper wage subsidies it received as part of the Government’s economic support despite recording a record profit before tax of $1.18 billion for the year ended June 30, 2021 – an increase of $521 million from a year ago.

“It appears the pressure on the company has had an impact though with the company just this week deciding to repay $6 million of JobKeeper wage subsidies – but will this concession prove too little too late for Harvey Norman to rebuild the trust they have lost during this period?”

This survey took place over the June quarter, meaning that Harvey Norman’s recent scandal involving Latitude and customer lending programs won’t have impacted the list.

Expect Harvey Norman to fare even worse in the next survey.

The ten most brands, according to Roy Morgan, are:

Woolworths
Coles
Bunnings Warehouse
Aldi
Kmart
Qantas
Myer
Toyota
NRMA
Big W

“Australia’s big two supermarkets Woolworths and Coles have held their spots as the most trusted brands in Australia in the June quarter 2021, ahead of Bunnings Warehouse and fellow supermarket ALDI,” said Levine.

“These businesses have been essential outlets for millions of Australians over the last 18 months and the latest lockdowns in Sydney, Melbourne and Canberra will again emphasise their importance to many.

“The other big winners during the June quarter 2021 were Department Stores including Kmart, Myer, Big W and Target. All four lifted their rankings with Myer and Big W entering the top 10 most trusted brands as many retailers enjoyed record sales as Australians prevented from travelling and enjoying live entertainment such as sport, music, theatre and the like redirected their spending into the retail industry.”

 



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