Supermarket giants Coles and Woolworths are experiencing unprecedented levels of distrust among Australian consumers, according to a recent poll by Roy Morgan. Both retailers, previously ranked as the most trusted brands in 2022 and 2023, have plummeted in public perception. Woolworths has fallen 239 places and Coles 237, marking the highest level of consumer distrust recorded since Roy Morgan began tracking this metric in 2017.
Supermarket giants Coles and Woolworths are facing record levels of distrust among consumers, according to a pollster. Roy Morgan said that the two major retailers were Australia's two most trusted brands in 2022 and 2023, but they have since tumbled. Woolworths was the nation's most distrusted brand after falling 239 places with Coles not far behind after dropping 237 places, according to an October survey of at least 2,000 respondents taken by Roy Morgan.
Professor Gary Mortimer from the Queensland University of Technology, who specialises in retail marketing and consumer behaviour, said several key factors influence a brand's trustworthiness with Australian consumers. "Willingness to provide transparent and relevant information is a key component in building and maintaining trust with consumers," he said. He said a lack of transparency can result in allegations of "profiteering or price gouging".
CONSUMER TRUST SUPERMARKETS COLES WOOLWORTHS PRICE-SETTING PRACTICES
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