TRA Brand Trust Report 2024: Dell Tops 5th Time, Honda Two Wheelers Rises To 2nd
The TRA Brand Trust Report (BTR) 2024, an annual unveiling of India’s 1000 Most Trusted Brands, has once again crowned Dell Laptops as the nation's most trusted brand for the fifth consecutive year. This year's study, encompassing insights from over 2,500 consumer influencers across 16 cities, showcases shifts in brand trust dynamics.
Honda Two Wheelers made a leap to the second rank from 30th, marking the most significant positive change among the top ten brands. The report, featuring 33 Super Categories and 323 Categories, is a culmination of research, including over 90,000 respondent interviews conducted over the past 13 years.
Amazon secured the third position, climbing three places and solidifying its dominance in the online retail sector. Titan Watches, despite a slight drop in rank, maintained a robust trust quotient among consumers, securing the fourth spot.
Sony Televisions witnessed a remarkable rise of 16 ranks, claiming the fifth position and reflecting a substantial boost in consumer confidence. Xiaomi, leading in the Mobile Phones category, secured the sixth rank despite slipping four places from the previous year.
Bata (Footwear - Retail) descended two places to seventh, while Nike (Footwear - Sports) surged 14 places to claim the eighth spot, indicative of dynamic shifts within the personal accessories sector.
LIC (Life Insurance - PSU) secured the ninth rank, experiencing a drop of two places, while Samsung Televisions climbed seven places to secure the 10th position. Their presence in the top 10 underscores a broad spectrum of trust across various categories, from BFSI to consumer electronics.
N Chandramouli, CEO, TRA Research stated, “In 2024, 316 brands improved their Brand Trust rankings, while 358 brands saw their rankings decline compared to the previous report. The FMCG Super-Category led with 167 brands, followed by Food & Beverage with 151, Consumer Electronics with 81, and Automobile with 76 brands each. The brands that have risen in the rankings have done so by embracing transparent, authentic communication strategies to enhance consumer engagement and trust. They've understood that trust is not static but dynamically influenced by every interaction and touchpoint a consumer has with the brand. Trust is built and maintained through consistent, positive, and genuine communication efforts. As technology evolves, so too must our approaches to fostering and sustaining trust, ensuring that all physical and digital touchpoints are integrated with the timeless principles of trust that drive consumer confidence and brand loyalty.”
There are 323 Categories from 33 Super-Categories listed in the report. Some other Category leaders include Aachi (Spices), AO Smith (Water Heaters), Allen Solly (Formalwear), ACC Cement (Cement), Amex (Credit Cards), AMD (Semiconductors), Aviva (Life Insurance – Private), Blue Dart (Express Services – Domestic), boAt (Smart Wearables), Canon (Cameras), CEAT (Tyres), Chai Point (QSR – Tea), Citibank (Bank – Foreign), Dr. Agarwals (Eye Hospitals), Ducati (Two Wheeler – Luxury), Giny & Jony (Kidswear), Gowardhan (Paneer), HDFC (Home Finance), Jeep (SUV - Manufacturer), LG (Microwaves & Refrigerators), Mahindra Scorpio (SUV – Brand), Medimix (Soaps – Ayurvedic), Muthoot Finance (Financial Services), Nataraj (Pencils), Nivea (Skincare), Patanjali Dant Kanti (Toothpaste - Ayurvedic), PhonePe (Digital Payments), Raymond Made to Measure (Tailored Menswear), Singer (Sewing Machines), StayFree (Personal Hygiene Products), Trek (Bicycles - Sports), TTK Prestige (Pressure Cookers), Vestige (Direct Selling), Voltas (Air Conditioners), and Wagh Bakri (Tea).
