Australian home entertainment retailer JB Hi-Fi has the strongest corporate reputation in the country and is viewed more positively by Australians than some of our largest and most established companies, according to the 2010 Corporate Reputation Index.
In the first year it has appeared in the annual rankings compiled by AMR Interactive, JB Hi-Fi rates higher than Nestle, Toyota and Qantas (in order), and Australia Post, which ranked first in the 2009 results.
Despite numerous recent product challenges, Toyota only slipped one place in the 2010 index, from second in 2009 to third in 2010. It also topped the list for innovation. It was one of three automotive companies to rank in the top 10 this year; an improvement for the automotive industry.
AMR’s reputation practice director and general manager, Oliver Freedman, said JB Hi-Fi’s strong financial performance in difficult economic times had clearly made a strong impact in the eyes of Australians.
“JB Hi-Fi is a new entrant this year because of its rapid increase in business size,” he said.
“To come in at number one in the first year it has been included is quite an achievement. It shows just how strongly the company is regarded among the Australian public, rating particularly well in the areas of financial performance, products, leadership and innovation.
“In addition, the strong results posted by Toyota despite the challenges the company has faced both here and overseas shows how an established, strong reputation can help protect a company at a challenging time.”
Of the top five in this year’s index, Qantas showed the strongest improvement, coming in fourth and leaping 11 places from last year’s rankings. Another airline, Air New Zealand, also improved, jumping seven places to come in 13th.
David Jones jumped 15 places overall to post eighth this year, while Nestle Australia jumped two places to come in second, but had the strongest rating for its ‘products’ according to consumers, narrowly beating JB Hi-Fi in this specific measurement.
Freedman also said that of the banks included in the research, NAB was the only company to show a substantial increase and was now “regarded much more positively than it was two years ago”.
Produced each year by research consultancy AMR Interactive and released this month, the Corporate Reputation Index measures how Australians aged 18-64 score our 60 top companies, and ranks them accordingly. It is part of a global 27-country study produced in conjunction with the Reputation Institute.