Bunnings named strongest retail brand for 2022, Woolworths most valuable brand

Bunnings Hardware has been named Australia’s strongest retail brand for 2022, with supermarket giant Woolworths named as the most valuable brand in a new Brand Finance report.

In the Brand Finance Australia 100 2022 report, it listed Telstra, BHP, Coles and Commonwealth Bank in the top five most valuable brands.

The total value of Australia’s top 100 brands has risen by 11 percent hitting $161 billion, according to Brand Finance. 66 of the brands in the Brand Finance Australia 100 2022 ranking saw an increase in brand value, while 22 dropped, 2 remained stable, and 10 new brands entered the ranking.

All major industries in Australia have risen in terms of total brand value, including banking, mining, telecoms and retail, according to the report.

Every year, brand valuation consultancy Brand Finance assesses 5,000 brands, publishes 100 reports ranking these brands across all sectors and countries.

Australia’s top 100 most valuable and strongest publicly listed brands are included in the annual Brand Finance Australia 100 ranking.

Woolworths has maintained its spot as the most valuable brand in Australia for the third consecutive year, following a 9 percent boost to its brand value to reach $13.7 billion. Holding a 33 percent market share, Woolworths has been pivotal in keeping the supply chain going throughout the pandemic, the report said.  

Mark Crowe, Managing Director, Brand Finance Australia said, “Bunnings’ efforts in responding to residential and trade demand along with aiding the vaccination rollout has not gone unnoticed by consumers, who ranked the retailer particularly highly in terms of quality, innovation, value for money, loyalty and customer service."

The retail sector remains the most valuable in the ranking for the second consecutive year, with a cumulative brand value of $40.4 billion. Accounting for 25 percent of the nation’s total brand value, Australian retailers have enjoyed a brand value growth of 15 percent, outperforming other key players in telecoms and banking.

This was mostly due to the COVID-19 pandemic as many Australians spent their time during lockdown searching for entertainment, home improvement projects and online shopping.

The Australian retail sector has moved from strength to strength during the pandemic, overtaking the once-dominating banking industry to become the nation’s most valuable, Crowe said.

“While leading Australian brands such as Woolworths, Coles, Bunnings, and Officeworks have thrived, the sector will need to continue to innovate and keep up with new trends to continue on this positive trajectory in a post-pandemic society,” he added.

The full list of brands can be found here.