The current situation:
Trust is a foundational element of any well-functioning society, and it plays a vital role in both our personal relationships and our broader societal structures. Trust is critical to every aspect of our lives, serving as the backbone of economic stability, emotional well-being and the ability to foster a sense of belonging. This week’s Consumer Pulse looks at how our level of trust in governmental institutions, businesses and retailers has changed over the past two years.
Driving our levels of trust:
The source from which we get news can greatly influence who and what we trust. According to our Consumer Pulse, here’s what media source each generation uses most for their news:
• Gen X – Social media (82%)
• Millennials – Social media (67%)
• Gen X – TV (68%)
• Boomers – TV (81%)
The Outlook:
Trust in retailers outperformed the level of trust in government and businesses, with approximately 30% saying they are somewhat or much more trusting of home improvement retailers, mass merchants and online retailers compared to two years ago. To capitalize on this trust, brands need to consistently deliver on their brand promise, provide excellent customer service and present themselves with authenticity.
Do you want to take the Pulse of your customers? Our Insights team will partner with you to design a study that will help you better understand your customers and their problems, and how your brand can win at retail.
To get additional insight into what this means for brands and retailers, read the entire study.
