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Industry News2022 ‘Brand Trust Index’ lists several Canadian retailers, CPGs in top 10

2022 ‘Brand Trust Index’ lists several Canadian retailers, CPGs in top 10

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The eighth annual “Gustavson Brand Trust Index” has been released. The top 10 most trusted Canadian brands list includes Band-Aid (2), Costco and Home Hardware (3), President’s Choice (6), Interac (8), and Shoppers Drug Mart/Pharmaprix (9).

The study is conducted by researchers at the University of Victoria’s Gustavson School of Business and is the only survey of its kind conducted by an academic institution. Researchers surveyed 9,189 Canadians in January of this year about 402 global and national brands and 10 regional brands in 33 categories; and seeks to measure three factors contributing to a brand’s overall trustworthiness and integrity: Brand Authenticity which relates to a brand’s social responsibility, Brand Ability which is how well a brand performs its main function and Brand Affinity which relates to the ways a brand interacts with its consumers. Brands were also assigned an advocacy ranking which is how much consumers recommend the brand to others. 

Key takeaways from the report include:

  • Grocery stores rank very high in consumer trust. 
  • Results show a positive connection between a brand’s trust and its advocacy score.
  • One of the biggest drivers of this trust in a business’s social responsibility is its treatment of employees.
  • Since 2016, social media has been declining but this year marked an all-time low. 

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