Better Business Bureau announced findings from its second BBB/Gallup Trust in Business Index survey, noting American consumers say in a seven-month period their trust in businesses has fallen in 13 of 15 industries measured, with an overall composite Index decline in consumer trust of 14 percent. And nearly half (47 percent) of those surveyed say they have only some, very little or no trust at all in companies they do business with in everyday life.
From the first to second survey, nine industries had a 10 percent or more drop in the combined “A Great Deal of Trust” and “Quite a Lot a lot of Trust” grouping, including:
- Auto Dealers : -19 percent
- Real Estate Brokers: -19 percent
- Department Stores: -16 percent
- Gas Stations: -15 percent
“Very Little Trust” + “No Trust” = Least Trusted Grouping:
|
Key Industry Segments
|
Survey II – 4/08 Percentage of Respondents
|
Survey I – 9/07
Percentage of Respondents
|
Total Percentage Change –
From Survey I to II
|
|
Auto Dealers
|
48
|
47
|
+2%
|
|
Real Estate Brokers
|
41
|
36
|
+12%
|
|
Health Care Insurers
|
37
|
37
|
0%
|
|
Cell Phone and Wireless Service Providers
|
32
|
32
|
0%
|
|
Auto Repair and Maintenance Shops
|
34
|
31
|
+10%
|
|
Gas Stations
|
30
|
22
|
+27%
|
|
Contractors
|
27
|
24
|
+11%
|
|
Banks, Financial Institutions and Stock Brokers
|
20
|
14
|
+30%
|
|
Furniture Stores
|
20
|
19
|
+5%
|
|
Electronics and Appliance Stores
|
14
|
13
|
+7%
|
|
Department Stores
|
11
|
8
|
+27%
|
|
Office Supply Companies
|
9
|
7
|
+22%
|
|
Home Improvement Stores
|
9
|
6
|
+33%
|
|
Pharmacies and Drug Stores
|
7
|
6
|
+14%
|
|
Grocery Stores and Supermarkets
|
5
|
4
|
+25%
|
|
Total Number of Adult Americans Surveyed
|
1003
|
1204
|
"This trend should be a call to action for businesses, especially in an ailing economy—the link between consumer trust and profitability is well established.” aid Steve Cole, president and CEO, Council of Better Business Bureaus. Read entire article.
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