Brands are ranked based on their average net trust rating (the share who say they trust each brand to do the right thing minus the share who distrust). The surveys used to determine the ranking were conducted between March 1 – 30, 2021 in Brazil, Canada, China, France, Germany, India, Italy, Spain, the United Kingdom and the United States. The data comes from Morning Consult Brand Intelligence, which collects tens of thousands of surveys across the globe every day on over 4,000 brands and products. Google, PayPal and Microsoft are the 3 most trusted brands globally, per data intelligence firm Morning Consult’s Most Trusted Brands. The survey of more than 330k people in 15 markets highlights a few key trends companies should watch:
KEY INSIGHT #1: Trust is increasingly connected to spend
- “As the world reopens, trust will define the new era of consumer spending and brand relationships,” says Morning Consult founder Kyle Dropp.
- 80% of consumers surveyed say they’ve stopped buying from a brand that lost their trust, often switching to a competitor.
KEY INSIGHT #2: Consumers will remember brand actions from 2020
- 21% of consumers trust brands more because of their pandemic responses.
- Top responses for how brands gained trust: Compliance & safety, convenience & alternative solutions.
KEY INSIGHT #3: How a company treats its people & community is more important than ever
- In response to how brands gained trust, many mentioned “help” -- referring to how the brand helped employees, communities, essential workers and more.
- Failing to step up was also a key reason brands lost trust.
You can dive into the full report here: https://morningconsult.com/most-trusted-brands-2021/