This summary is provided by IPR based on the original study by PwC
PwC explored executive and consumer perspectives on brand trust.
A survey of 503 business executives, 2,508 consumers, and 2,002 employees in the U.S. was conducted in May 2022.
Key findings include:
- A trust gap exists between the perceptions of executives compared to consumers and employees.
- 87% of executives think consumers “highly trust their companies” where only 30% of consumers said they do.
- 84% of executives think their employees “highly trust their companies” compared to 69% of employees who said they do.
- Executives and consumers are less aligned on trust issues than executives and employees.
- 47% of business executives said trust is “more bottom-up than top-down” while 27% of consumers and 35% of employees said the same.
- Affordability (offering affordable products and services) was the leading way to build consumer trust with 34% of consumers choosing that as a way to gain trust.
Employees listed being treated well as the best way to earn their trust (47%).
- 71% of employees said they would leave their organization if it lost their trust.