Last updated on August 16th, 2012 at 12:29 pm
Temkin Group released its 2012 Temkin Trust Ratings that rates the level of trust that consumers have with 206 large companies across 18 industries. This is the second year that Temkin Group has published these ratings.
The research, which is based on a survey of 10,000 U.S. consumers in January 2012, shows that 19 percent of large U.S. firms earned a “very strong” trust rating. Consumers are most likely to trust USAA, credit unions, H-E-B, Publix, Chick-fil-A, Sam’s Club, Hy-Vee and BMW. At the other end of the spectrum, consumers are least likely to trust Charter Communications, Citigroup, Bank of America, HSBC, Time Warner Cable, Comcast and Qwest.
The 2012 Temkin Trust Ratings cover 18 industries, including grocery chains, retailers, wireless carriers, banks, airlines and car rental agencies.
Temkin Group examined industry averages and found that grocery chains have earned the highest Temkin Trust Ratings followed by investment firms, retailers, and parcel delivery services. But very few consumers trust TV service providers, Internet service providers, or credit card issuers.
“No matter what industry you’re in, it’s a major problem if your customers don’t trust you,” states Bruce Temkin, author of the research and Managing Partner of Temkin Group.
Temkin Group also analyzed changes between 2011 and 2012 and found that consumer trust had increased across all 18 industries. Fifty-two of the 139 companies that were in the 2011 and 2012 Temkin Trust Ratings earned double-digit improvements and these six companies improved by more than 20 percentage points: USAA, PNC, Lenovo, credit unions, U.S. Bank, and HSBC. Seventeen companies lost ground over the last year with the biggest drops coming for Cox Communications, Bank of America, Citigroup, Edward Jones, TriCare and Costco.
Details of this analysis can be accessed from the blog, Customer Experience Matters, at http://experiencematters.wordpress.com. The data can be accessed from the Temkin Ratings website, http://www.temkinratings.com.