Banks show greatest improvement in YouGov Australia’s Best Brands list

Banks show greatest improvement in YouGov Australia’s Best Brands list
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Google remains healthiest brand in the nation for third year running

Google has topped YouGov Best Brands list for the third year in a row, on YouGov’s annual ranking of the healthiest brands in the nation. The rankings are based on the Index score from YouGov BrandIndex, which constantly measures overall brand health. The score takes into account consumers’ perception of a brand’s overall quality, value, impression, reputation, satisfaction and whether consumers would recommend the brand to others. 

In spite of the impact on businesses and brands alike due to the pandemic, the top six brands on the list remains unchanged from the year before. Technology conglomerate Google comes in first (+52.45) and is joined by other digital brands like online payments system PayPal in third (+46.4) and video-sharing platform YouTube in fourth (+46.9). Household hardware chain Bunnings holds its spot in second place (+50.8), supermarket chain Woolworths in fifth (+44.8) and Japanese automobile manufacturer Toyota in sixth (+43.8).

This year’s brand sees three new entrants. Electronics retailer JB Hi-Fi debuts in seventh (+42.6), supermarket chain Coles in ninth (+40.5) and online pharmacy Chemist Warehouse in tenth (+40.2).

The top ten is rounded up with subscription video-on-demand service Netflix in eighth (+42.5).

 

YouGov BrandIndex also reveals the brands that have noted the greatest improvement to their Index score over the past 12 months in Australia. Australian multinational bank Commonwealth Bank (CBA) is the most improved brand this year, with an 8.7 increase in score. Telecommunications network Telstra comes in second (up +6.7 points).

Following the trend of Commonwealth Bank being the most improved brand, National Australia Bank (NAB) comes in the third most improver (up +6.5) and ANZ Bank in eighth (up +5.3).

The rest of the improvers list is completed by brands from various industries. Multinational tech company Amazon is in fourth (up +5.7), instant messaging platform WhatsApp in joint fifth (up +5.6) with fast-food chain KFC, sports apparel retailer Nike in sixth (up +5.5), social media giant Facebook in eighth (up +4.9) and pawnbroker Cash Converters in tenth (up +4.5).

Laura Robbie, General Manager at YouGov Australia commented: “With businesses hit hard by the pandemic, consumers have looked to big corporations and organisation to respond accordingly. Google has done just that, committing $100 million and technical expertise to the global COVID-19 response. The brand’s efforts sees it holding its spot as Australia’s healthiest brand. Financial institutions have also followed suit, providing financial relief in the form of deferring loan payments and providing loan support. This has resulted in local banks like Commonwealth Bank, National Bank of Australia and ANZ seeing great improvement in their scores this year.”

 

Global Rankings 

Google takes the top spot in YouGov’s annual global best brands ranking. Tech brands dominate the top of the list with the search and advertising giant followed by WhatsApp, YouTube, Samsung and Amazon. 

With Netflix and Facebook in sixth and seventh respectively, the only non-tech-related brands in the top ten are Singaporean ecommerce platform Shopee (eighth), Swedish retailer IKEA (ninth) and US sportswear titan Nike (tenth).

Methodology

The rankings are drawn from interviews conducted between October 2019 and September 2020. Each day consumers are asked their view on 581 brands in Australia, which allows YouGov to build a picture of how different brands are perceived by the general public through comparing Index scores – which is a measure of overall brand health calculated by taking the average of Impression, Quality, Value, Satisfaction, Recommend and Reputation.

Impression – whether someone has a positive or negative impression of a brand

Quality – a net measure of whether consumers think the brand represents good or poor quality

Value – a net measure of whether consumers think the brand represents good or poor value for money

Satisfaction – whether someone is a satisfied or dissatisfied customer

Recommend – whether someone would recommend a brand to a friend or not

Reputation – whether someone is proud or embarrassed to work for a brand

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