TRA’s Brand Trust Report (BTR) 2024, which annually lists India’s 1000 Most Trusted Brands, revealed DELL Laptops retaining its first-place position for the fifth consecutive year. This year’s study, based on insights from over 2,500 consumer-influencers across 16 cities, highlights HONDA Two Wheelers jumping to the second rank from 30th, the most significant positive change among the top ten brands.
The report includes 33 Super Categories and 323 Categories. TRA measures Consumer Buying Intention through its proprietary matrices of Brand Trust and Brand Desire and has conducted more than 90,000 respondent interviews over the last 13 years.
AMAZON, the online retailer, ranked third in BTR 2024, climbing 3 places. TITAN Watches ranked fourth, dropping one place. SONY (Televisions) rose by 16 ranks to the fifth position, indicating increased consumer confidence. XIAOMI is sixth, leading in the Mobile Phones category but slipped 4 places from last year. BATA (Footwear – Retail) placed seventh, down 2 places, and NIKE (Footwear – Sports) climbed 14 places to eighth rank.
LIC (Life Insurance – PSU) ranked ninth, and SAMSUNG (Televisions) took the tenth position, with drops of 2 and raises by 7 places respectively. Their presence in the top ten reflects trust across various categories, from BFSI to consumer electronics.
“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 integrated with the timeless principles of trust that drive consumer confidence and brand loyalty,” N. Chandramouli, CEO, TRA Research said.