Bunnings, Woolworths recognised as most valuable Aussie brands

Australian’s favourite brands have been revealed with Bunnings taking out the top spot, but its not just because of its epic sausage sizzles.

Bunnings has claimed the award for Australia’s strongest brand after the popular hardware chain saw an influx of customers keen to work on DIY renovation and gardening projects during Covid lockdowns.

Woolworths and Officeworks were awarded second and third place for strongest brands in a new report from Brand Finance Australia.

Its rankings are based on analysis of company’s marketing investment, familiarity, loyalty, staff satisfaction and corporate reputation.

The hardware giant was recognised for its outstanding public perception in terms of quality, innovation, value for money, loyalty and customer service.

Mike Schneider, Bunnings Group Managing Director, on the shop floor of his store at Fairfield in Melbourne. Picture: NCA NewsWire / Andrew Henshaw

Bunnings managing director Mike Schneider credited the team for providing friendly and helpful service every day, despite difficult circumstances.

“Even during a really challenging period for all Australians, the resilience, care and support our team have demonstrated is testament to the importance of creating a people-first culture, and why our team remains the heart of the Bunnings brand,” he said.

Brand Finance Australia managing director Mark Crowe said not only did Bunnings deal with record demand from both consumers and trades, but its offer to assist with the vaccination roll out by offering a jab alongside the sausage sizzle was noticed by customers.

Bunnings’ brand value was estimated to be $4 billion by the report jumping from the $2.7 billion valuation is received last year. Meanwhile, Officeworks brand value was estimated to be worth $473 million.

Bunnings staff have been credited for making the brand so popular.

The report found that $13.7 billion of Woolworth’s profits could be attributed to its good brand reputation, particularly as it coped with keeping shelves stocked during Covid outbreaks and lockdowns, with the analysis completed before the Omicron variant emerged.

Woolworths group chief marketing officer Andrew Hicks said using new services like Scan & Go and Direct to Boot had helped to respond to customer needs, while noting that Omicron had also required them to change how they communicate and engage.

“It has always been important to us to be transparent and responsive in our communications while always putting the variety of needs our customers have, especially in times like these, at the heart of our decision-making,” he said.

Woolworths also ranked highly. Picture: NCA NewsWire / Nikki Short

The total value of Australia’s top 100 brands rose to $161.1 billion, up 11 per cent from last year, with new companies joining the rankings such as BetEasy, Bega, Keno, the Good Guys and Vodafone.

Overall the retail sector outperformed banking, mining and telecommunications during the pandemic, with a total worth of $40.4 billion.

Qantas returned to the top 10 strongest Australian brands coming in seventh after dealing with the brutal impacts of the pandemic.

“Qantas’ recovery is testament to the iconic brand’s enduring strength that fortified the business against the impact of the pandemic, but also ensured it was well-placed to take advantage of the recovery in the airline sector,” Mr Crowe said.