At a time of frequent data breaches and online scams, US consumers are placing a high value on trust. In research from GfK Consumer Life, 35% report – at the highest level of strength – that they only buy from “trusted” brands. That level has risen by 12 percentage points since 2011 – although it is still below the global average of 46%.
At this year’s Groceryshop conference – taking place September 15th to 18th in Las Vegas – Jola Burnett (VP, GfK Consumer Life) will reveal the complex and changing motivations behind consumer trust today and show how retailers can earn and sustain this elusive commodity.
Watch Burnett talking about her Groceryshop session
GfK Consumer Life studies show, for example, that almost one-quarter (22%) of US consumers cite the security of their personal data as one of their top 3 personal concerns. And 44% of US consumers strongly agree that they only buy products that align with their personal beliefs and values – another key aspect of trust.
In “Trust in the Age of Doubt: The State and Shape of Consumer Trust” – taking place on September 16th at 2PM – Burnett will
• identify trust concerns specific to retailers
• list some of the surprisingly diverse brands that consumers now consider trustworthy
• define five essential ways that retailers can make trust an ally in their relationships with consumers
The Internet has expanded consumers’ access to a host of retailers and brands – but it has also vastly increased opportunities for fraud and disappointment,” said Burnett. “Scams routinely hijack the logos and names of companies that people work with and trust – leading to uncertainty about what is real and when to feel comfortable. In this charged environment, retailers can take up the mantle of ‘valued friend’ in ways that consumers will naturally embrace – but doing so requires a clear understanding of what trust means today. Definitions are changing rapidly, and the opportunities to disappoint are multiplying with each new touchpoint.”
Burnett consults with many US and global clients, looking at disruptive shifts and forces to make sense of the future. She guides companies on how to connect with today’s and tomorrow’s consumers, pin-point high growth areas, and tailor marketing strategies to future-proof businesses. Burnett's category expertise includes retail, technology, media & entertainment, personal care/beauty/fashion, health, consumer packaged goods, PR and marketing.
New GfK study also shows that vaccinated people are thinking and acting differently than non-vaccinatedRead more
Lockdowns spur a 12% rise in unit sales -- latest GfK POS dataRead more
Nearly 17 million ‘CannaBoomers’ turning to cannabis for physical and mental health benefitsRead more
One year after lockdowns began, consumers still love brands – but loyalty may be up for grabsRead more