A survey conducted on a sample of over 3,000 Canadians turned back a ranking of 249 brands in 22 different industries. The results indicated that homegrown brands such as Tim Hortons and President’s Choice and Shoppers Drug Mart are trusted most by Canadians.
The brands were scored on attributes such as quality, innovation, value, leadership and social responsibility among a total of 40 attributes. All of them aimed at assessing factors influencing consumer trust.
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The survey was conducted at the Peter B. Gustavson School of Business at the University of Victoria. The school plans on making the Gustavson Brand Trust Index an annual release.
The study also found that consumers measure trust on two different levels: functional and emotional. Functional trust measures quality, reliability and consistency. However, what’s more interesting to Dr. Saul Klein, dean of the business school is the emotional trust.
It is defined by factors including workplace practices, environmental policies and community responsibility.
The survey also found that women tend to trust brands more than men do and that older consumers trust top brands more than younger consumers do and that brands in the financial, travel and utility industries are the least trusted of all.
