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As social media ads proliferate, targeting customers via algorithmic means, a divide between the platforms and the consumers participating on them may be in evidence — at least according to a study provided to Chain Store Age by Liquid Web.
Only a very tiny cohort (14%) of those surveyed indicated that they felt confident that their personal data was handled securely when shared with a company, with healthcare leading the most trusted industries at over half of respondent support (55%).
By contrast, social media had a staggering lead ahead of the pack in terms of producing a lack of consumer trust, with more than three-quarters (76%) of those polled saying there were trust issues present there. E-commerce (49%) and tech platforms were next in line for criticism coming from U.S. shoppers as being perceived to handle data irresponsibly.
Meta, X, and TikTok Named Least Trusted Consumer-Facing Companies Collecting Information
In a further breakdown of the data, CSA senior editor Dan Berthiaume provided a list of the top 10 least trusted consumer-facing companies which frequently collect personal and financial data, per the poll results.
- Meta: 56% of respondents indicated a lack of trust.
- X: 45%
- TikTok: 44%
- Google: 24%
- Amazon: 22%
- DoorDash: 17%
- McDonald's: 17%
- Uber Eats: 16%
- Netflix: 15%
- Microsoft: 15%
Conversely, a list of the top 10 most trusted companies follows. Interestingly enough, Amazon, Google, and Microsoft appear on both lists: Notably, payment processors and financial institutions demonstrably lead the list.
- PayPal: 45%
- Capital One: 32%
- Chase: 30%
- Amazon: 28%
- Apple: 26%
- Venmo: 22%
- Zelle: 22%
- Google: 22%
- Amex: 20%
- Microsoft: 20%
Gen Z, Millennial Consumers Exhibit Higher Levels of Brand Trust, But Vetting (and Burner Accounts) Remain Key
According to the survey results, Gen Z (45%) and millennial (41%) shoppers exhibited the highest degree of brand trust, but those same demographics also showed more prevalence than other age cohorts to personally vet brands (TikTok being named) after exposure to them, with Gen Z being most likely to create a burner account to interact with a site they lacked trust in.
Finally, when it comes to engendering trust with consumers, a clear delineation as to how data will be used was cited as the most important factor (60%); trailed by an SSL certificate being present (54%); the brand itself being recognizable or well-known (45%); clear return, refund or cancellation policies (42%); and a familiar checkout experience (40%). On the other hand, factors which raised suspicion included an unusual or misspelled domain name (74%); a lack of proper grammar or spelling on a site (73%); intrusive or unnecessary requests for personal data (72%); a lack of clear and identifiable company contact information (62%); or prices that seemed "too good to be true" (60%).