Are retailers ready for a ‘seismic shift’ in consumer trust?

Aussie consumers have low levels of trust for advertising, but will pay more to buy from a trusted brand, says a report from Cheetah Digital.

What happened

Aussie consumers have low levels of trust for advertising, but will pay more to purchase from a trusted brand, a new report from Cheetah Digital reveals.

Why it matters

So what can retailers do to keep up with this seismic shift in consumer expectations where hyper-personalised relationships with brands are the only way forward? This question – and more – was unpacked in a recent Cheetah Digital-hosted webinar I was a part of, alongside an expert panel of guests, including Teresa Sperti, the founder and director of Arktic Fox and Adam Posner, the CEO and founder of The Point of Loyalty.

According to Cheetah Digital’s new Digital Consumer Trends Index, 67 per cent of consumers in Australia do not trust the advertising they see on social media platforms. And more than half (63 per cent) don’t trust social media platforms with their data.

Teresa Sperti doesn’t find the results surprising at all. “Over time, there has been an erosion in the level of trust for social platforms,” she points out. “As a whole, this has led consumers to be increasingly wary about the information they provide on these platforms and how their data is being used.”

This news brief is based on reporting published by InternetRetailing Australia on 2022-09-29. The original report is linked below.