The Roy Morgan Risk Report has revealed the Australian economy experienced the fastest quarterly growth in 45 years, growing 4.2% in the year to December 2021 and 3.4% in the December quarter of 2021 alone.
Roy Morgan data scientists analysed nominations from more than 20,000 Australians to identify the nation’s 20 most trusted and distrusted brands. The report revealed the top five most trusted brands in December 2021 were Woolworths, Coles, Bunnings Warehouse, ALDI and Kmart, all unchanged from the prior quarter.
Also in the top 10 were Myer improving into ninth place and Big W in tenth place. In addition, retailers comprised seven of the top ten most trusted brands in the year ending December 2021.
According to Roy Morgan CEO Michele Levine, supermarkets and big retailers have been big winners over the last two years due to the pandemic stimulus, limited overseas travelling, and Australians spending their money at home.
“Australia’s big retailers have enjoyed a bumper pandemic, and the increases in retail sales have also provided a rocket to the level of trust Australians hold in these companies they’ve relied on during the last two years to keep their fridges, cupboards and wardrobes well-stocked.
“Big two supermarkets Woolworths and Coles have again held their spots as the most trusted brands in Australia in December 2021 with big hardware retailer Bunnings Warehouse, fellow supermarket ALDI, and department store Kmart all holding their positions in the top five.
“Other brands to improve their ratings included Myer, up one place to ninth, Australia Post, up six places to 11th and Apple, up six places to 15th overall. As Australia leaves the lockdown/closed borders stage of the pandemic behind it will be interesting to see whether retailers can hold their spots at the top of the rankings when Australians have other options to spend their hard-earned cash on.”
Top 10 most trusted brands according to Roy Morgan
Additionally, strong economic growth has powered a retail sales boom beginning early in the pandemic. In the most recent month available, retail sales growth in February 2022 increased at an annual rate of 9.1% compared to February 2021.
The Roy Morgan analysis also revealed the top 20 list of Australia’s most distrusted brands with McDonald’s re-entering the top 20 list. Brands including Amazon, Harvey Norman, Uber, Twitter and Crown Resorts all experienced rising distrust rankings during the year ending December 2021.
Levine notes the biggest ‘loser’ in the latest Roy Morgan Risk Report is McDonald’s.
“Fast-food retailer McDonald’s has been the biggest mover with increasing distrust, and also a decrease in trust, in the ‘golden arches’ leading to a big jump in the distrust rankings – up 12 places to 15th overall.
“Driving the big increase in distrust are people who say McDonald’s is ‘too motivated by profit and greedy’ as well as ‘lacking integrity’ and ‘Ultimately the food is mass-produced rubbish’.”