By
Tricitynews
Chandigarh
27th June:- TRA Research, a brand Intelligence and data insights
company, also the publishers of TRA’s Brand Trust Report, an annual syndicated research
conducted among nearly 2500 consumer-influencers across 16 cities in India. A
comparison of the Brand Trust Indices of the most trusted 100 brands of 2016,
2017 and 2018 of the report makes a significant observation. Between 2016 and
2017, the demonetization year, the consumer trust plummeted 19%. Equally
noteworthy is that the consumer trust has recovered to early 2016 levels,
having gained 15% on trust scores between 2017 to 2018 - bringing trust back to
within a 1% of early 2016 Brand Trust Index (BTI) levels. TRA’s Brand Trust
Report uses their proprietary matrix of 61 intangible trust attributes to
understand consumer mindset and behavior.
N.
Chandramouli, CEO TRA Research said that in one stroke, the November 2016 demonetization
eroded consumer trust by a fifth; with direct trust losses seen in small and
medium businesses, with a cascading impact on all citizens. However, over the
last year, consumer trust has recuperated, to within the early 2016 levels.
Consumer trust is a reflection of the confidence that the consumer displays
towards transacting showing confidence and readiness to transactions if
conditions turn right. He said further that unless our institutions corporate,
banks, government – tap onto this consumer readiness, their fragile trust due
to repeat ‘shocks’ is likely to dip again with lowered risk appetite,
especially taking into consideration that it is a pre-election year.
No comments:
Post a Comment