Jebbit Releases Fourth Consumer Data Trust Index Revealing Covid’s Impact on Consumer Trust Increase in World’s Leading Brands
Study Reveals Data Collection is at the Heart of Consumer Trust / Established Technology, Convenience and Home Improvement Brands Score High While Facebook and Direct-to-Consumer Brands Struggle
Jebbit, the world’s leading declared data platform, announced the release of their most recent Consumer Data Trust Index, a report surveying consumer trust in 100 of the world’s leading public-facing companies. In past surveys, adult consumers from the United States were asked to rate, on a scale of one to 10, their level of trust in brands to use their personal data in exchange for more relevant offers, goods and services. This year consumers were also asked a variety of questions to evaluate their motivations and concerns when sharing data with companies across a list that included both traditional and D2C brands.
The world has changed significantly since Jebbit released its last Consumer Data Trust Index (CDTI) in March 2020. According to data from Salesforce Research, shoppers are increasingly turning to e-commerce. Forty-four percent of U.S. respondents said they are conducting more of their shopping online with sixty-eight percent of U.S. shoppers expected to buy essential goods online after the health threats of COVID-19 have subsided.
Marketing Technology News: Escher Releases Retail Analytics Solution
Jebbit recognized this significant opportunity for a reset in direction; a report that would help brands seeking to understand how to adapt to pandemic-driven consumer buying trends in the lead up to an unprecedented digital-first holiday season. With brands now having even more data about how their customers shop, it is imperative to understand if they are using that data in a way that builds – rather than erodes – trust.
For the fourth time in a row Amazon ranked number one on the list and is the only company to consistently secure a ranking of over 6.0 in average consumer trust. Indicative of stay-at-home behavior, the top 10 performers included companies in entertainment, technology, convenience shopping, and home improvement including Amazon, Samsung, Microsoft, Apple, Costco, Target, Lowes and The Home Depot. Whether it’s relevant products (Amazon), the next great show to watch (Netflix), or the supplies needed for that next project (Home Depot), these brands ensure that their customers received a better experience in exchange for the data they shared.
Overall, trust levels are on the rise, with 24% of consumers surveyed stating that their overall trust in brands had increased during the pandemic, compared to just under 19% who said overall trust in brands had decreased. However, the CDTI asked respondents to rate trust on a scale from 1-10. The top score was 6.7, and the middle 50% of brands all scored between 6.11 and 5.36. This shows that brands have more work to do, as customers will no longer tolerate a subpar digital shopping experience. In response to the question “Which of the following most causes you to distrust a brand when providing your personal information?” “Brands asking for too much information” remains the top answer.
Marketing Technology News: Anzu Appoints Former Activision Blizzard Executive Ruben Dehouck As A New Strategic Advisor
According to the data, 35% of consumers surveyed plan to do more of their shopping online after the pandemic. Brands that have historically relied on brick-and-mortar stores for revenue need to adapt their marketing to the digital era as customers expect a virtual experience to be like — or better than — an in-person one. In addition, 34% of consumers surveyed said that they trust traditional brands more than direct-to-consumer (D2C) brands, compared to only 19% who said they trusted D2C brands more. Since most D2C brands were born digital the chance to deliver more personalized experiences is expected to build more trust over time.
“This year’s Consumer Data Trust Index captured insights into both the world’s leading and fastest growing companies and how trust relates to their data collection and personalization strategies” said Pamela Erlichman, Chief Marketing Office of Jebbit. “Companies that adapt and steer innovation across digital channels will develop the consumer trust needed to build loyalty and customer lifetime value.”
Marketing Technology News: Cision Releases Cision Connect, Empowering Communicators to Perform More Meaningful Media Outreach