• Two in three APAC consumers say they’ll stop purchasing from brands that breach their trust
• Four in ten APAC consumers decide to spend an additional $1,000 once a year with brands they trust
• In terms of gaining consumer trust, digital experiences outperform in-person interactions.
Adobe has released the findings of a survey that included over 5,000 Asia Pacific consumers and 900 business leaders, and found a strong link between brand trust and customer behaviour. Among APAC consumers, 66% say they’ll stop purchasing from brands that break their trust, while pension plan to spend a minimum of $1,000 more annually with trusted brands. Indian consumers stand out here as 48% say they’re going to spend over $1,000 on trusted brands, over their peers in South East Asia (29%), Australia (14%), and New Zealand (8%).
When asked whether or not they consider digital or in-person experiences to be more important in driving trust, a touch over a 3rd of APAC consumers (35%) favored digital experiences compared to 23% who say that in-person experiences are more important for enabling trust. India leads compared to other regions in APAC with maximum consumers (47%) preferring digital as opposition in-person experiences.
Bridging the info trust gap
Brands’ use of non-public data could be a key driver of mistrust among APAC consumers. The research reveals that 85% of the consumers are concerned with how their data is getting used, and almost half are ‘very concerned. Only 38% of consumers believe the advantages of providing their data to companies are greater than the risks, with 50% of Indian consumers accepting with this.
In addition, the majority of APAC customers said they will stop buying from brands if data governance fails. This includes 68% who would stop purchasing from an organization that used their data without permission and 67% who would do the identical if they experienced an information breach. In India, over 60% opined that they’re going to stop purchasing from a brand that doesn’t provide the private experiences they value.
The role of technology in engendering trust
APAC consumers outline variety of things which will both increase and reduce their trust in brands and enhance the digital experience, with technology playing a prominent role. Almost three in four (72%) say their trust in brands increases when technology is employed to personalize their experience.
However, the same proportion (74%) say poor personalization erodes trust, with top examples including ‘contacting me during a creepy way’ and sending irrelevant ads or offers. a rather higher fraction of Indian consumers (76%) says poor personalization decreases their trust in brands, with near half them highlighting that it significantly harms their trust.
95% of Indian consumers trust AI to boost their experience, which is significantly beyond their counterparts in South East Asia (86%), Australia (57%), and New Zealand (54%). Moreover, Indian business leaders are optimistic that AI will improve their customers’ experiences (98%) and increase efficiency at work.
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