For the second year in a row, Roy Morgan has announced that Woolworths won the ‘Best of the Best’ Award as the ‘Most Trusted Brand in Australia’.
The Roy Morgan Trusted Brand Awards have taken data from roughly 25,000 Australians each year, or around 2,000 Australians each month, to decide who is most deserving of the 20 awards given to superior brands over the 12 months to June 2023.
The Roy Morgan Trusted Brand Awards identifies companies that have built their reputation on excellence and trust in industries including Supermarkets, Charities, Automotive, Superannuation, Insurance, Utilities, Government Services, Media, Retail, Department & Discount Department Stores, Services, Mining & Petroleum, Banks, Telecommunications and more.
Survey respondents rated Woolworths favourably for its superior, affordable products and for concentrating on customers’ needs.
For the “Best of the Best” award, Woolworths beat other category winners such as Bunnings, Kmart, and Toyota in the Roy Morgan Trusted Brand Awards for 2023 and have surpassed their competitors in their respective industries and services.
Some Trusted Brand Award winners also ranked among the Top 20 Most Trusted Brands in the latest quarter, such as Woolworths, Bunnings, Kmart, Toyota, ABC, NRMA, Bendigo Bank, and Australia Post.
Woolworths emerged as the ‘Best of the Best’ Most Trusted Brand for 2023, after consistently being the Most Trusted Brand for the past three challenging years. Woolworths took over the title from Bunnings in 2021.
Roy Morgan CEO Michele Levine congratulated the winners and said the most impressive part of the companies selected is that they’ve succeeded during challenging times.
“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,” she said.
There were also other repeat winners besides Woolworths, including Bunnings (Retail), Kmart (Department & Discount Department Stores), Toyota (Automotive), Apple (Technology), and Australia Post (Services).
Other repeated winners include Salvation Army (Charities), Aussie Broadband (Telecommunications), PayPal (Non-Bank Financial Services), CSIRO (Government Services), Samsung (Consumer Products), AustralianSuper (Superannuation), and NRMA (Insurance).
Two first-time winners who made the cut this year were Synergy (Utilities) and Virgin Australia.
When considering Qantas was left off the list and replaced with Virgin, Levine said how important trust is today in Australia.
“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 said
