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In a Feb. 27 press release, Mintel noted that trust has been eroded across the board, from the food chain to the political arena to the country’s financial infrastructure.
Joan Holleran, director of research at Mintel, said companies that manufacture and sell products to consumers must emphasize trust among their buyers to regain loyalty and, along with it, sales.
“Many Americans had their confidence dashed by failed expectations, and they're also spending less because of the recession,” she commented. “Companies need to develop trusting, honest relationships so they can get shoppers' precious dollars.”
In the retail sector, Holleran said, food safety is one area marked by distrust. She pointed to the recent Salmonella outbreak linked to alleged poor practices and the less-than-forthcoming responses from Peanut Corporation of
Consumers are not certain they even can trust traditional “safe” labels such as organic and kosher, the report noted.
Beyond quality and safety, retailers that offer green products, whether under their own brand or under national brands, also must allay consumer concerns about trust.“In a recent survey, three in five respondents said they were skeptical over many companies’ green marketing claims,” Holleran stated.