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83 percent of consumers rate transparency and ethic as trust builders

Staff Writer |
Eighty-three percent of consumers globally rate transparency and ethical behaviour as vital to building trust, according to SAI Global's inaugural Consumer Trust Index.

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Topping the list at 88 percent is a reputation for good quality products and services.

The global risk management firm surveyed 3,035 consumers globally between November 2016-January 2017, to help businesses understand what trust means to them - how it is built, protected, lost and restored.

Peter Granat, CEO of SAI Global, said taking an intelligent approach to dealing with organisational risk is critically important for businesses to ensure continued success.

"With technology rapidly altering and expanding public access to information, understanding consumer trust and knowing how to protect it is imperative," said Mr Granat.

"Trust is a powerful, valuable and fragile business asset - once lost, it can be difficult to win back."

The Consumer Trust Index indicates that 43 percent of customers would never return to a company following a data breach.

Poor customer experience (31 percent) and poor treatment of employees (29 percent) would also keep customers away.

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