Australia’s most trusted brand has been announced and it’s non other then supermarket giant ALDI.
For the second survey in a row. According to a new survey revealing Australia’s top ten brands with positive net trust scores (NTS), Aldi is number one and then followed by Bunnings in second place. Qantas is in third place with Bunnings following in fourth place.
These are the findings of the latest Roy Morgan Net Trust Score Survey – conducted in July of this year. The first two benchmark surveys were conducted in October 2017 and January 2018, with a third conducted in February and a fourth in April.
Comparing this most recent (July) survey with the previous (April) survey, Qantas improved one place from #4, and the ABC jumped three places from #7.
The Roy Morgan Net Trust Score survey for July also reveals that ALDI, Bunnings and Qantas have remained in the top five most trusted brands across all surveys since October 2017.
Bendigo Bank is the only bank brand to defy the fallout from the Financial Services Royal Commission. It has, despite the Royal Commission and the high levels of distrust in the banking sector, remained in the top ten brands with a positive Net Trust Score (NTS) across the five surveys to date.
On the flipside, while the big-four banks remain in the top ten most distrusted list, partly due to revelations of wrongdoing in the Royal Commission, AMP has moved from nowhere in the benchmark survey to feature prominently in the two most recent surveys of Australian brands with a negative NTS.
According to Roy Morgan CEO Michele Levine, AMP provides a good insight into how distrust can have a material effect on brand value and sustainable growth.
“The banks were already deeply distrusted so any material impact on their market value is upand down. But AMP has never before been so distrusted,” she said.
“Seventeen years ago, AMP shares were worth more than $14. Today they’re worth less than $3.50. That’s a drop of 72 per cent.
“AMP’s skyrocketing level of distrust has cost the household brand billions of dollars. According to financial analysts, more than $4 billion has been wiped off the company’s value as a direct consequence of revelations during the Royal Commission.”
Since October last year Roy Morgan has asked more than 10,000 Australians to nominate brands they trust and brands they distrust, and why. Surveys are unprompted and open-ended. A Net Trust Scoreor NTS is calculated by subtracting a nominated brand’s distrust score from its trust score.