As part of the 26th edition of our annual Reputation study, we are proud to unveil the list of the most reputable companies according to Canadians in 2023. Reputation has become the benchmark for measuring corporate reputation in Canada and monitoring how it changes over time. This year, we surveyed more than 38,000 Canadians to explore their perspectives on more than 300 companies in 30 different sectors.
DOWNLOAD THE REPUTATION BOOKLET, WHICH PROVIDES AN OVERVIEW OF THE 2023 RANKING, BY FILLING IN THE FORM BELOW.
The Top 10 Most Reputable Companies in Canada in 2023
The maximum possible reputation score is 100. This year, according to Canadians, the most reputable companies are:
- Google (Reputation Score: 75)
- Sony (Reputation Score: 74)
- Shoppers Drug Mart (Reputation Score: 71)
- Samsung (Reputation Score: 71)
- Canadian Tire (Reputation Score: 70)
- YouTube (Reputation Score: 70)
- Dollarama (Reputation Score: 69)
- Home Depot (Reputation Score: 69)
- Costco Wholesale (Reputation Score: 67)
- Campbell (Reputation Score: 67)
Some Highlights of the 2023 Reputation Study
With many Canadians experiencing hardship on a day-to-day basis, their expectations of businesses are increasing. The increases in Canadians’ cost of living and the failure of their incomes to keep pace is mirrored in our 2023 Reputation study results. This edition of the study reveals that grocery stores and banks have taken the hardest reputational hit, while discount-oriented dollar stores have risen upwards.
Six of the top ten companies in 2022 remain in the top ten this year (Google, Sony, Shoppers Drug Mart, Samsung, and Canadian Tire ranking in the top 5 and Campbell at #10). Google, now sitting at #1, managed to improve its reputation score by 5 points and dethroned Shoppers Drug Mart. This improvement is driven by fewer bad opinions of Google compared to previous years, bringing it back in line with pre-pandemic levels.
Keeping consistent with the current fiscal climate, Canadian company Dollarama reaches #7, while Costco, geared towards Canadians looking for maximized savings, also jumps in rank to secure its position in the top 10 this year (#9).
One of the biggest hits to reputation this year has been to Netflix. As worries over inflation climbed and entertainment budgets were being cut back, rumblings of Netflix changing their subscription terms late in 2022 likely contributed to a 9-point drop in their reputation score (60 in 2023 compared to 69 in 2022).
Additionally, our 2023 Reputation study scores echo the general mistrust of social media companies and concerns around data privacy. Twitter and its new owner Elon Musk see the biggest drop in reputation that we have seen in almost a decade (drop of 24 points to a reputation score of -12). TikTok (-11), new to our study this year, has made its grand entrance at the very bottom, sitting alongside Twitter (both ranked 296 and 297 out of 299 respectively).
Even during recessionary times marked by consumer volatility, leveraging your reputation proves to be more imperative than ever before with six-in-ten Canadians (57%) indicating that they would be willing to pay a little more for a product/service if the brand/company has a good reputation.
All things considered, although certain sectors experienced greater reputation losses than others, the overall reputation of a thorough cross-section of corporate Canada has fallen by an average of just under 1 point, highlighting the resilience of a good name, even in trying times.