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· Posted on
February 21, 2024

Bunnings is Australia's strongest brand, so it turns out lowest prices really were just the beginning

Bunnings are Australia's hardware GOATs...they've turned around $15 billion in revenue each year.

What's the key learning?

  • Bunnings has won the title of Australia's strongest brand, while Woolies has claimed first place in the brand value rankings
  • Brand strength refers to a customer's perception of the brand
  • Brand value refers to how much of a company's profits can be attributed to its brand name.

Background: Bunnings are Australia's hardware GOATs. The business was founded all the way back in 1886...and has since gone on to turn around $15 billion in revenue each year.

What happened: Home renovations were really popular during COVID, so it's not super surprising that Bunnings has just taken the cake for being Australia's strongest brand. Woolies and Officeworks rounded out the top three.

What else: In extra good news for Woolies, this crew took out first place in the brand value rankings - for the third year in a row.

So what's the key learning?

💡While brand strength and brand value kinda sound the same…they’re actually very different.

💡We've got:

  1. Brand strength: a marketing term that refers to a customer’s perception of the brand (aka how likely a customer is to purchase an item from the company not because of the item itself, but because of the brand's reputation)
  2. Brand value: this refers how much of a company's profits can be attributed to the brand (kinda like a financial gauge of your brand's worth).

💡Thanks to keeping doors open across COVID - and providing loads of toilet papers in tough times - Woolies' brand value was strong.

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