The Most Influential Brands In Canada Have Been Revealed & Inflation Is Clearly Top Of Mind
With the rising cost of just about everything these days, it seems inflation is affecting how Canadians view brands.
An annual study by Ipsos Canada evaluating "the most influential brands across Canada’s corporate landscape" analyzed over 100 brands across 19 categories to determine what actually influences the lives of Canadians.
Factors such as trustworthiness, engagement and presence were used to determine brand influence, and for this year's survey, empathy and utility were also explored. According to Ipsos, the latter two dimensions "encompass integrity, affordability, and other factors that played a crucial role in connecting with consumers during uncertain times."
The top ten most influential brands in Canada in 2022 were:
- Google (-)
- Amazon (-)
- Apple (+1)
- YouTube (-1)
- Netflix (+2)
- Walmart (+4)
- Microsoft (-1)
- PC Optimum (+1)
- Visa (-1)
- Facebook (-5)
While some of the brands at the top of the list, like Google and Amazon, probably won't come as a surprise to Canadians due to the sheer popularity of the two, it's interesting to note that Walmart and PC Optimum both moved up in ranking from last year.
"Walmart jumped all the way to No. 6 this year — an impressive four-point increase, signalling the budget retailer’s appeal in a recessionary climate," noted the study.
PC Optimum, which is the only Canadian brand to make the list, found its way to the eighth spot due to the loyalty program gaining influence.
While other brands, such as TikTok, ranked significantly differently depending on the age group, one common thing seemed to tie everything together regardless of age or region: inflation.
"But in 2022, inflation was a cross-generational issue — so brands like Walmart and PC Optimum that communicated empathy and value performed well," said Ipsos.
This article's cover image was used for illustrative purposes only.