Source: Roy Morgan Single Source – All brand Net Trust Score survey.
Base: Australians aged 18+; April 2018 – March 2019. n=14,722.
The latest research from the Roy Morgan Trust and Distrust Monitor, particularly relevant given today’s news about Woolworths, shows Retail and Supermarkets at the highest NTS – Net Trust Score. Gambling is at the other extreme, with a negative NTS – more Australians distrust gambling companies than trust them; and Food and Beverage companies are in the middle.
Banks remain in negative territory, on an annual basis, but the last quarter has shown signs of improvement.
Net Trust Score by Industries - 12 month averages to March 2019
Source: Roy Morgan Single Source – All brand Net Trust Score survey. Base: Australians aged 18+; April 2018 – March 2019. n=14,722.
Michele Levine, Chief Executive, Roy Morgan says:
“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.
“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’.
“Trust is the foundation of all human connections – from intimate relationships to everyday business transactions. In general Australians trust brands because of their products, services, and the value equation they perceive – essentially when they deliver what they promise” said Ms. Levine.
“But it’s Distrust where our deepest fears, pain and betrayal surface - the shock of discovering we were foolish to trust too much. Our research has shown Australians’ distrust for companies is more generally related to dishonesty, greed, or poor corporate behaviour.
“Traditional measures of consumer satisfaction, or NPS (Net Promoter Score), are not able to identify those deeply felt concerns – that represent real risks for companies and brands and their future sustainability.
“These insights are drawn from the ongoing Roy Morgan Trust and Distrust Monitor – based on over 1,000 interviews each month.
“Respondents are asked which brands and companies they trust, and why, and also which brand and companies they distrust, and why.
“The survey is specially designed to be open-ended, and context free.”
To gain a greater understanding of Roy Morgan’s Trust and Distrust Program or to understand more about your own industry or brand contact Roy Morgan.
Michele Levine – direct: 03 9224 5215 | mobile: 0411 129 093 | Michele.Levine@roymorgan.com