May 15 2020
Consumer confidence in volatile times: Bosch picks up Most Trusted Brands 2020 award in lols10Ͷע Appliances category, earning top marks
MUNICH, Germany – In testing times, it often becomes clear what is truly important in life – what has the power to endure and what does not. Above all else, the longer-term viability of brands hinges on consumer confidence. Which brands have the edge, and which are falling behind? The Trusted Brands 2020 list from Reader’s Digest magazine sets out to answer this question every year. This is carried out in partnership with Dialego, a market research institute based in Aachen, Germany. In the latest edition of the survey, 4,001 consumers aged 18-plus were asked to reveal which brands they trusted. In the end, Bosch lols10Ͷע Appliances was able to secure the Most Trusted Brand title in the lols10Ͷע Appliances category for the fourth time and even managed to make another improvement on its good marks from the previous year.
Spontaneous brand mentions
Among 90 different home appliances brands that were mentioned unprompted, Bosch was named by 27% of respondents. The year before, its name was put forward by 26% of participants, coming up against 85 competing brands. With the number of brands mentioned by consumers constantly increasing, the need to stake out a strong position is becoming more and more important for individual manufacturers. This makes Bosch’s results even more significant. It is also particularly encouraging that Bosch was named so often as respondents’ favourite brand, given that they did not receive prior instruction about brands. They were requested to spontaneously indicate which brand they most trust in each category. The latest group of participants named a total of 3,603 brands across 22 different product categories.
Quality remains essential
The Reader’s Digest survey has now been shedding light on consumers’ confidence in brands for more than 20 years. It offers businesses valuable information about which criteria are becoming more or less important in consumers’ eyes. The 2020 edition reveals that quality continues to be crucial in fostering high levels of trust. Quality is the most or second most important attribute for 74% of respondents, followed by value for money (48%) and the products’ ability to meet people’s needs (41%).
Excellence across the board
The relative weight given to these priorities helps to explain the success of Bosch, Europe’s leading home appliances brand.* Quality, reliability and consumer focus are all key points of emphasis in the development and production of Bosch’s appliances. And this is no recent phenomenon. “Gaining and retaining people’s trust by delivering reliability, functionality and real, practical added value has always been part and parcel of Bosch’s DNA,” explains Bosch managing director Harald Friedrich. Sustainability, service and a spirit of innovation are other key tenets of the Bosch philosophy, though the brand focuses on ensuring excellence across the board to fully satisfy consumers’ preferences. It is this that creates a positive brand experience, which consumers can spontaneously remember – as shown by the Reader’s Digest survey.
“We’re very proud to have received this new accolade,” Harald Friedrich is pleased to announce. “The Bosch brand is driven by a clear brand essence and genuine shared values. Especially in uncertain times, this helps us to stay on top of things and remain optimistic.”
*Bosch is the best-selling home appliances brand in Europe (source: Euromonitor – large home appliance sales in 2019).