Brand trust is more important to Australian consumers than the rest of the world, according to a new study.
Adobe studied the habits of over 1,000 Australian consumers and surveyed 200 senior business leaders, and found that brand loyalty is the major factor in spending.
Among Australian consumers, 72 per cent plan to spend at least $700 a year more with trusted brands, compared to the global average of 60 per cent.
The flipside to this is that 54 per cent of Australians will never purchase from the brand once their trust is broken
Only 16 per cent of Aussies prefer digital shopping experiences to in-person (APAC average is 35 per cent), while 48 per cent say both digital and in-person experiences are equally important in establishing brand trust.
“The importance of digital experiences to a trust exchange has come into sharper focus, and the stakes are high,” said Adobe president, Asia Pacific, Simon Tate.
“Done right, many consumers will reward brands with loyalty and spend. When trust is broken, most consumers will walk away permanently.”
Of the business leaders, 81 per cent admit that gaining consumer trust has become harder since the pandemic, which reflects Australian’s preference for in-person experiences.
“Australian consumers’ experiences over the past two years and rise of the digital economy are combining to shift the fundamental drivers of brand trust”, Tate reasons.
“More than ever, trust relies on brands’ ability to make a positive impact, use data responsibly and deliver digital experiences on customers’ terms.”
