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Bunnings Achieves Top Spot In Australian Hardware Store Satisfaction Report

Bunnings store and hammer 725 x 500

New research from Roy Morgan shows that in the 12 months to October 2018, 89.8% of hardware store customers were satisfied, an increase of 2.4% year on year. Market leader Bunnings increased 1% point to 90% to hold off an increase of 2% to 89% by Mitre 10.

These are the latest results from Roy Morgan’s ‘Hardware Store Satisfaction Report’ which is based on in-depth personal interviews conducted face-to-face with over 50,000 Australians per annum in their homes, including over 9,000 interviews with people who have shopped in a hardware store in the last four weeks.

Bunnings builds on year of excellence

Bunnings is the undisputed market leader for hardware stores with over 11.3 million Australians shopping at Bunnings in an average four weeks – over 55% of all Australians aged 14+ and over 95% of all hardware store shoppers.

The demise of Bunnings’ key hardware store competitor Masters, in late 2016, has given Bunnings an extra ‘boost’ over the last two years. The market leader has grown its customer base by nearly 700,000 customers over the past year. Only Home Hardware (up 23,000) has also grown customers.

The improvement in Bunnings customer satisfaction in recent years means the chain is set to claim another victory in the Annual Roy Morgan Customer Satisfaction Awards to be awarded in February 2019. Bunnings won the Annual Award in 2011 and also tasted success, for a second time, last year in 2017.

In third place for customer satisfaction, behind Bunnings and Mitre 10, was Home Hardware on 88% (down 1% for the year), followed by True Value Hardware on 83%. Despite coming in fourth, behind its rivals, the 2014 Annual Award winner was the big improver over the past year, up by 8% on a year ago.

Hardware Store Customer Satisfaction – October 2018

/live/news/wysiwyg/Roy Morgan.JPGSource: Roy Morgan Single Source (Australia), 12 months ended October 2017, n = 50,035; 12 months ended October 2018, n=50,359. Base: Australians 14+ who purchased from a hardware store in the last four weeks, 12 months to October 2017, n=9,172 and 12 months to October 2018, n=9,242. 

Michele Levine, Chief Executive Officer, Roy Morgan says:

“Australia’s undisputed ‘king of hardware stores’ Bunnings has gone from strength to strength over the last 12 months. Bunnings has increased its customer satisfaction by 1% to 90% over the past year to win another Roy Morgan Monthly Customer Satisfaction Award in October.  

“As well as performing strongly by providing a high level of customer satisfaction Bunnings has also continued to grow its customer base strongly. Over 11.3 million Australians shop at Bunnings in an average four weeks, an increase of nearly 700,000 on a year ago.

“The success of Bunnings in delivering a high level of customer service and a growing customer base has provided a significant challenge to other hardware retailers. The exit of Masters in late 2016 left a huge hole in the hardware store market. Before their exit nearly 1.9 million Australians were shopping at Masters in an average four weeks.

“Since the demise of Masters the customer base of Bunnings has grown by over 1.1 million whereas as rival hardware retailers Home Hardware, Mitre 10 and True Value Hardware have only experienced negligible gains in their customer bases.

“Bunnings’ victory adds to a string of monthly victories so far in 2018 and puts the hardware retailer in the box seat to repeat its victory at last year’s Roy Morgan Annual Customer Satisfaction Awards.

“The data used here is only a small part of what Roy Morgan has been collecting and analysing on hardware stores and all other retailers over many years. As a result we have a database which is uniquely suited to tracking and understanding consumer behaviour and attitudes in this industry.

“To understand more about the hardware market, ask Roy Morgan.”

Source : Roy Morgan

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18 December 2018

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