Of those consumers who trust a brand, about 53% will be the first to buy from them.
According to Edelman’s Trust Barometer Special Report 2019, only 34% of consumers trust the brands they purchase from. For 81% of the report’s 16,000 respondents (spread across eight countries) trust is a deal breaker or a deciding factor in their purchase decisions.
The respondents ranked other deciding factors, with quality at 85%, convenience at 84%, value at 84% and ingredients at 82%. The study also revealed that of all the consumers who trust a brand, only 53% would be the first to buy from their trusted businesses.
The article notes that this is so as most businesses are depending on “making impressions instead of making change”. About 21% of respondents reported that the brands they buy from have society’s best interests in mind.
[3 minute read]