Only half of shoppers trust companies amidst ‘trust-based economy’

Meanwhile, 61% are comfortable divulging personal information to 'transparent' firms.

As the importance of trust becomes a factor in shopping, only 50% of customers said they “generally” trust companies, a survey from Salesforce, a global customer relationship management leader, showed.

The study, which featured insights from 650 consumers from Singapore, also indicated that 90% of customers said building their trust is more important in times of change.

Salesforce’s study also found that 72% of customers bought products in new ways since 2020; whilst 61% of shoppers said they are comfortable with firms using relevant personal information transparently.

Almost seven in 10 are also moving to other brands in 2021. Asked about factors in switching, 60% said company values, 78% said better deals, and 56% said better product quality.