As higher food prices continue to foster distrust between consumers and retailers, Shoppers, Dollarama and Costco have maintained a favourable reputation among Canadians.
Market research firm Leger released its ranking of the top 10 most reputable companies in Canada this week as part of its 26th annual Reputation study.
This year, the company surveyed more than 38,000 Canadians to explore their perspectives on more than 300 companies in 30 different sectors.
Six of the top 10 companies in 2022 remain in the top 10 this year (with Google, Sony, Shoppers Drug Mart, Samsung and Canadian Tire in the top five, and Campbell in the 10th spot).
[Read more: “No Frills, Shoppers, Jean Coutu among BrandSpark 2023 Most Trusted Awards winners”]
Google, now in first place, improved its reputation score by five points, dethroning Loblaw-owned pharmacy chain Shoppers Drug Mart.
Dollarama found its way to the top 10, coming in at number seven, while Costco jumped in rank to secure its position in the top 10 this year (number nine).
Walmart improved by 4 points, showing that discount-oriented retailers are seizing the opportunity presented by the current fiscal climate, Leger said.
“While it may be a time of consumer volatility, it is clear that a company’s reputation can pull it through to the other side. We found that nearly six-in-ten Canadians (57%) indicate that they would be willing to pay a little more for a product/service if the brand/company has a good reputation,” Leger said in its report. “Even during recessionary times, leveraging your reputation is more imperative than ever before. While some sectors have larger reputation losses than others, the overall reputation of a thorough cross-section of corporate Canada has fallen by an average of just under one point, which shows the resilience of a good name, even in trying times.”
See the full list.