The Insight Survey is back!
July 2010
The Insight Survey is back and bigger than ever. In 2009 when we launched this annual research project we looked at the retail sector uncovering who were the most trusted retail brands and why. This year we've revisited retail and also turned our attentions to financial services (FS).
Coverage of the survey has broken in Marketing Week today which you can see in our Press section including comment from leading marketers of the brands surveyed. You can also view the full report at www.theINSIGHTsurvey.co.uk
In the meantime here are a few headlines for you.
Most trusted retailers for the second year running were M&S: (39%), John Lewis (26%) and Boots (23%). The most frequently given reasons for this were: Good Reputation (55%), High Quality Products (42%) and Good Value for Money (42%). Low Prices ranked 9th with just 15% of the vote.
Among their own customers, John Lewis leapfrogged M&S to become most trusted with 64% of their customers saying they were their most trusted brand in that sector.
In FS the scores were generally lower, in fact people voted for an average of 2.3 most trusted retail brands and only nominated 1.1 in FS! Top of the league were Nationwide (15%), Coop Bank (12%) and Barclays (10%). The trend seemed to suggest that a relatively small number of people trust the brands they use (approx 30% of a brand's customers) but they're really not inclined to trust anyone else.
When we asked who would do the best job of looking after your money, Retail or FS, the response was under-whelmingly in favour of FS with only 39% of people saying that a financial company would do a better job than a retailer!