NEWS & VIEWS
THE BUZZ
Why shoppers still support brands they don’t trust
Money has recently received several pieces of research about Australians and their brand awareness during Covid-19. Three studies came to the same conclusion: consumers are more likely to buy products that best serve their needs rather than stick with popular, well-known and/or trusted brands.
A March survey of 5000 consumers, by Sydney-based Fifth Dimension Consulting, says people continue to buy from brands they distrust, provided they personally gain from the relationship.
Lyndall Spooner, founder and managing director at Fifth Dimension, says brand trust is a poor predictor of consumer behaviour. “You may not trust Google, but you might use Google Home. Most people don’t trust Facebook ... but how many of us have a Facebook page? A lot of people don’t trust big tech companies like Apple, but they still use Apple products.”
She says companies should focus on meeting customers’ needs rather than investing in trust.
Between March and May, consulting firm
