Food and beverage companies struggle to win consumer trust
Supermarkets and convenience stores are among the high performers when it comes to winning consumer trust, but food and beverage companies have a long way to go, according to the latest research from Roy Morgan.
The Roy Morgan Trust and Distrust Monitor reveals that consumers gave food retailers a high Net Trust Score (NTS) of between 10-15 while food and beverage companies sit below five on the trust scale.
The research also highlights that many Australians distrust gambling companies, which could have been a factor in Woolworths’ decision to offload its liquor and gambling businesses.
“Even at a very top-line level, our research into the brands and companies Australians trust and crucially those they distrust and why they feel that way – provides context for the Woolworths’ decision to separate their supermarket business from their alcohol retail, pubs and pokies business,”
Michele Levine, chief executive, Roy Morgan said.
“Detailed analysis of the Trust and Distrust of the Woolworths brand over the last year, highlights the extent to which even a trusted company like Woolworths can also be ‘fragile’.
The insights are based on over 1,000 interviews with consumers each month, in which respondents are asked which brands and companies they trust and distrust and why.
Levine said that Australians trust brands because of their products, services, and the value equation they perceive – essentially “when they deliver what they promise”.
“Our research has shown Australians’ distrust for companies is more generally related to dishonesty, greed, or poor corporate behaviour,” Levine added.