QoD: What industry sector is least trusted by consumers?
Answer: Financial Services
- Why do you think that trust is important when it comes to a relationship between a company and its customers?
- Do you trust financial services companies (banks, credit card companies, student loan providers)? Why or why not?
- Why do you think that others have so little trust in financial services companies? Are there examples of news stories that you can recall?
- Which of these industry groups listed above do YOU trust the most? Why?
Behind the numbers (from Edelman Trust Barometer):
Technology (75 percent) remains the most trusted industry sector followed by Education (70 percent), professional services (68 percent) and transportation (67 percent). Financial services (54 percent) was once again the least trusted sector along with consumer packaged goods (60 percent) and automotive (62 percent).
Here's another Question of the Day about trust...Which tech company do people trust most when it comes to data privacy?
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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