New Delhi: Cynicism runs high with brands. Large number of consumers believe that brands are not open and honest. Notwithstanding the corporate social responsibilities undertaken by companies and talking about it ad nauseum, even that does not cut much ice with consumers, as revealed by the Authentic 100 survey.
The Authentic 100 survey is an annual index of global brands ranked by consumer perception of authenticity.
A recent survey has revealed that only 7 percent in Western Europe of those surveyed in the UK, France, Germany and Spain and a five percent in Sweden believe brands are `open and honest’. The least cynical are China and Indonesia at 36 percent and 35 percent respectively. Less than a quarter of Americans (23 percent) see brands as honest.
The 2016 study on authenticity defines for the first time what consumers believe are the individual attributes of authentic behavior and whether a brand displaying these attributes will affect the actions of consumers.
The study identifies a large ‘authenticity gap’ between brands and consumers, with 75 percent of nearly 12,000 consumers surveyed across 14 markets indicating that brands and companies have a credibility problem.
The top 20 brands in the global Authentic 100 are Disney, Amazon, Apple, Samsung, Lego, Ford, Google and Coca-Cola.
Privacy concerns are now seen as a core component of what makes a brand authentic in the eyes of the consumer. The recent public standoff between Apple (#5 on the global Authentic 100) and the United States FBI over encryption technologies is a case in point.
The fourth most important attribute of authenticity globally, is protecting customer data and privacy. When a brand is authentic and genuine, nearly nine out of 10 consumers are willing to reward in by recommending it (52 percent) to others and being loyal to it (49 percent).
Social responsibility measures and environmental responsibility steps don't resonate much either with consumers. Only 57 percent were impressed by CSR and 55 percent by environment friendly measures.
“The rules of communication have irrevocably changed, and we’re seeing consumers reward brands that understand how to engage with them openly and honestly. In fact, consumers will forgive the occasional corporate misstep if a company is upfront, and addresses the issue head-on,” said Donna Imperato, CEO, Cohn & Wolfe, who released the survey.
The full Authentic 100 is available at Authentic100.com
Updated Date: May 03, 2016 13:52 PM