Australia’s Top 10 Favourite Brands Revealed Based on ‘True Brand Experience’ Report from lowercase
To be a brand that is loved among loyal consumers, they need to be perceived as premium, have values and beliefs aligned with their customers, and provide consistent experiences, a new report, “Building Brand Love & Loyalty”, from lowercase reveals.
lowercase, the customer-centric brand experience consultancy, today launched its highly anticipated 2024 True Brand Experience (TBX) report which provides a transformative blueprint for brands striving to forge stronger connections with Australian consumers.
The latest TBX report surveyed Australians on their views of 25 leading brands across various sectors, including retail, automotive, tech, banking, beauty, online delivery, and retail. The study aimed to identify the common characteristics of brands that are ‘bought most often’ and considered ‘favourite’ by the Australian public. The brands were selected based on longevity, customer sentiment, recent growth and online and urban footprint in Australia.
Out of the 25 brands surveyed, the report reveals Australia’s top 10 favourite brands, uncovering what made these brands loved and bought time and time again. Tesla, Dyson and Bunnings topped the list, showing that brands that prized brand experience had the winning formula. Brands with a focus on providing strong solutions for Aussies, like Canva and MilkRun, also made the top 10, with smaller brands such as Messina and Oatly also making the top 10, proving that it’s not just size that matters when it comes to building love and loyalty.
The top 10 brands based on TBX are:
The True Brand Experience (TBX) report, based on insights from 1,000 Australians aged between 18 and- 80 NSW, Victoria, Western Australia and South Australia, dissects the strategies employed by the nation’s most beloved brands, revealing the secrets behind their success in cultivating brand love and loyalty. This comprehensive study offers actionable guidance for brands to close the gap between their promises and the real-world experiences of their customers.
“The top 10 brands list looks quite different to other brand rankings because it is based on what is most important to consumers - true brand experience and their expectations from brands. Our research delivers a powerful message: consumers reward brands that consistently fulfil their promises across every interaction with unwavering trust and loyalty,” said Matt Morgan, managing director of lowercase.
“This report is a wake up call for Australian brands drowning in the noise of big data to start truly listening to their customers once more. By embracing the art of listening, brands can build meaningful two-way relationships, ensuring differentiation and consistency across all touchpoints. Despite the challenges posed by internal silos and business complexity, the data proves that leading Australian brands have found a way to streamline their operations and place the customer at the heart of their brand experience.”
Key Findings:
Barriers to Being a Favourite Brand:
- Price and Budget: 35% of respondents cited these concerns as the primary reason for not classifying a brand as their favourite.
Awareness:
- Standing Out: Favourite brands excelled in distinguishing themselves from competitors.
- Personal Connection: A strong sense of familiarity with the brand was crucial, underscoring the importance of creating personal relationships with customers.
Understanding:
- Product promises: 85% of respondents indicated that their favourite brands had product descriptions that matched advertising promises.
- Brand clarity: 77% of respondents felt that they had a clear understanding of what their favourite brands stood for.
Purchase and Post-Purchase Touchpoints:
- Consistency: 76% of respondents highlighted the importance of a consistent look, feel, and personality in their favourite brands.
These insights reveal that price, brand distinction, personal connection, and consistency are critical factors in shaping consumer preferences and loyalty in Australia.
To truly achieve brand love and loyalty, brands need to provide a Total Brand Experience and those who are successful have the following common key attributes:
- Top three most important factors to Australians when considering their favourite brand: 1. Value for money 2. Good customer service 3. Brand/products are relevant to my life
- Premium Perception: Australia’s top brands are twice as likely to be perceived as premium or luxury, resulting in consumers being 3.1 times more likely to overlook price considerations.
- Value Alignment: 88% of consumers favour businesses that resonate with their personal values like ‘standing for more than making money’, highlighting the transformation of customer expectations into steadfast brand loyalty.
- Consistent Experiences: TBX brands excel in delivering consistent and authentic experiences across all customer interactions, from marketing to post-purchase.
- Shared Beliefs: TBX brands put customer beliefs at the heart of their brand promise, making them 2.3 times more likely to resonate with customers on an emotional level.
- Customer Recommendations: Consumers are four times more likely to recommend TBX brands to friends and family, significantly boosting word-of-mouth marketing.
The TBX report offers a detailed analysis of how successful brands close the gap between their strategic intentions and customer perceptions, showcasing best practices that can be adopted by any brand looking to enhance customer loyalty.
The study was conducted in partnership with RKI market research company.
