The Edelman Trust Barometer Special Report: Brand Trust in 2020 reveals that brands face a fundamental reordering of priorities amid a global pandemic and societal outcry over systemic racism prompted by the murder of George Floyd. In this environment, consumers are looking to brands to act and advocate for change.
The special report found that:
- 81 percent say personal vulnerability (around health, financial stability, and privacy) is a reason why brand trust has become more important
- 53 percent of respondents say ‘whether you trust the company that owns the brand or brand that makes the product’ is the second most important factor when purchasing a new brand. Trust is second only to price (64 percent)
- 70 percent say trusting a brand is more important today than in the past – a shared belief among age groups, gender and income