In the UK, trust is now the second most important reason for choosing a retailer, after price.

As the world gets more unsettled, trust and familiarity become more important. It takes years to build, and yet one bad day on social media can obliterate it altogether.

Trust comes in many forms, from trusting the supply chain of your favourite food retailer, to trusting that your data will be safe online.

Uncertain times have led customers to rely on retailers they know and trust. More than ever before.

It is important for retailers to build relationships based on trust, both with their customers and their wider stakeholders, including suppliers, investors, regulators and the media, as well as their own employees.

Key issues at the forefront of consumers’ minds include:

  • Uncertainty over Brexit and potential price increases
  • Provenance and CSR-related issues relating to product sourcing (environmental and ethical)
  • Cyber security issues - Two thirds of consumers are concerned about online security
  • Online reputation - One in three consumers now read online reviews before purchasing
  • Product authenticity - A key issue for the luxury product sector.
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Contact us

Lisa Hooker

Leader of Industry for Consumer Markets, PwC United Kingdom

Tel: +44 (0) 7802 882 562

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