One thing that all industries have in common is their need for the public’s trust. Unfortunately, this year’s Edelman’s Trust Barometer [PDF] shows that while the public still trusts business in general to do the right thing, that trust has declined across all examined industries.
In Edelman’s global survey of more than 34,000 adults across 28 global markets, Technology remains the most trusted industry despite dropping 4 percentage points year-over-year, with three-quarters (75%) now trusting the sector (based on a top-4 box from a 9-point scale).
This decrease in trust comes after the Technology industry experienced its highest amount of public trust (78%) in 8 years just a year earlier.
Past research places the fall in public trust in these companies squarely at the feet of technology companies misusing personal data.
Entertainment is another industry which saw trust dip by 4 percentage points, from 69% of the global general public in 2019 to 65% in 2020.
And while Consumer Packaged Goods experienced a 3 percentage point decrease in trust (66% in 2019 to 63% in 2020), trust in Retail businesses to do the right thing was not hit nearly as hard (70% in 2019 to 69% in 2020).
The Financial Services industry saw the same dip in trust as Retail; however, in the past 8 years, the Financial Services sector has seen its public trust grow by 12 percentage points. Read the rest at Marketing Charts.