Ipsos announced the results of its 2024 Most Influential Brands in Canada study during last week’s event at the Globe and Mail Centre in downtown Toronto. Over 650 marketers, brand strategists, and insights professionals gathered in person and virtually to discover which brands shape Canadian consumers’ thinking, shopping, and living.
This year’s event marks the fourteenth consecutive year that Ipsos has authored the study. As an independent market research company comprised of research professionals, Ipsos is an expert in providing a deep understanding of what drives influence and impact in Canada. The 2024 report polled 6,700 Canadians across regions, genders, and generations in a sample representative of the Canadian adult population within the context of a market worth $15 billion in advertising spend.
Steve Levy, the author of the Most Influential Brands study, kicked off the event by discussing the multidimensional nature of influence, the ingredients key to success, and how Canadian brands are building influence by reflecting on their history, unique products or experiences, and embedding themselves into the fabric of Canadian life.
Ipsos uses seven main dimensions when determining influence: Engagement, Trustworthiness, Leading Edge, Corporate Citizenship, Empathy, Utility, and Presence. Most brands have two to three dimensions that most significantly contribute to their influence.
While there was less movement in the top ten compared to previous years, two notable exceptions were Netflix, which rose above its competitors in the streaming war, and Samsung, which over-indexed in both the trustworthiness and leading-edge dimensions.
Historically, banks have shown some volatility in their rankings, and this year was no different, with many major banks moving down in influence. One surprise gain was Wealthsimple, who jumped from 132nd to 69th place. Other significant increases that didn’t make the top ten were Telus, who went from 43rd to 29th, Sun Life from 118th to 82nd, and Pinterest from 59th to 34th.
The top 10 most influential brands in Canada in 2024:
1. Google (-)
2. Amazon (-)
3. YouTube (-)
4. Apple (-)
5. Facebook (-)
6. Walmart (-)
7. Netflix (+3)
8. Microsoft (-)
9. Visa (-)
10. Samsung (+2)
Google maintained its dominance as the most influential brand for the thirteenth consecutive year. Steve Levy noted that the company over-indexed in trustworthiness, leading edge, and engagement. Perhaps most telling is Google’s impact on Canadians: a striking 40% report that Google introduced them to something they never knew they needed.
The report covered valuable insights, including the fact that brands can never forget the context in which they live. 2024 presented a year full of volatility, from issues in the economy, foreign policy, immigration, and the environment shaping conversations, and brands needed to be agile and responsive to the headlines.
Among the biggest takeaways from 2024 were:
- Canadian consumers are seeking relationships with dependable and local brands.
- Achieving generational harmony is key to brand success.
- Influential brands build mutually beneficial partnerships.
- When a brand commits to do something, the public will hold them accountable.
To read the complete results from the Ipsos study and how they decided which brands would make the list, visit https://www.ipsos.com/en-ca/ipsos-reveals-canadas-most-influential-brands-2024.
After the study results, an all-Canadian panel explored how Canadian brands can meet this important moment. The panel was moderated by Tim Hopkins, Vice President of Strategy at Publicis, with top marketing leaders including Bryan Feheley, Director, Program & Brand Marketing at Scene+, Agatha Wronecka, Vice President, Brand & Marketing Communications at Rogers, Rebecca Marstaller, Senior Vice President, Brand Marketing at Lululemon, and Steve Levy from Ipsos Canada.
Bryan Feheley noted that Canadian brands are “fighting in the same phonebooth for the same attention,” while Steve Levy added that there’s a real challenge for brands operating within Canada, both in terms of smaller budgets and “the degree to which we don’t have the same appetite for risk.”
The panel also discussed how they authentically tap into a sense of Canadiana, with Agatha Wronecka noting the importance of investing back into Canada and targeting uniquely Canadian needs. Rebecca Marstaller discussed the stereotype of Canadians being “nice,” explaining that it’s more about integrity and how this nuanced perspective influences Lululemon’s operations.
The panel also discussed the adoption of AI, strategies for building engagement, and how the role of marketers is evolving, with some takeaways being:
- Now is the time to return to the community.
- Listening to customers ultimately leads to trust.
- AI should be used to build better relationships, not get in the way of them.
- To stand out as a Canadian brand, define your identity, impact, and role.
The event closed off with a keynote presentation by Mary MacIsaac, Executive Vice President and Chief Marketing Officer at Loblaw Companies Limited. Her presentation focused on how Loblaw fought to regain the trust it had lost with its customers. To do so, they concentrated on a strategy that returned them to their brand purpose. They leaned into their community, leveraging campaigns that focused on local owners. The authentic approach paid off, with Loblaw seeing sentiment toward their brand shift to be positive for the first time in years.
“Leading with purpose is not a one-time action,” Mary said. “It’s a daily commitment.”
She also discussed preserving your brand’s long-term legacy, including the importance of keeping what’s working but never giving up on trying new things, even if it can be risky.
Learn how the top brands are winning over Canadian hearts and minds. Watch the full recording below.
