Study: Amazon.com is most trusted brand in U.S.
Company tops the charts for most trusted brand in the U.S., but what makes a brand successful long-term?
New consumer research released today by Millward Brown reveals that Amazon.com is the top performing brand in the U.S. based on "trust" and "recommendation."
Nokia tops the chart in eight other countries with Toyota garnering the top spot in both Canada and Japan (Clearly, this data was compiled before Toyota's recent mishaps.)
According to a summary of the full report, only 1 percent of brands achieve scores of over 120, with 27 percent getting scores of 105 or higher. What's interesting to note is that Amazon only ranks at No. 41 of the world's most valuable brands on the BrandFinance Global 500 chart, where Wal-Mart remains king of the hill.
The report asserts that trust remains essential as it represents the customer's belief, cultivated over time, in the efficacy and reliability of the brand. Recommendation is considered a separate and vital component of the consumer-brand relationship embodying the customer's belief, grounded in recent experience, that the brand continues to perform consistently and fulfill its promise.
According to the report, long-term brand success requires trust plus recommendation and brands with higher scores enjoy several advantages.
- The brand-customer bond is 10 times greater than the average brand-customer bond.
- The brand is nearly seven times more likely to be purchased.
- The brand shows a high likelihood of short-term market-share growth.
In regards to Amazon.com, it's not terribly surprising that the company tops the list. Despite thea few months back, the company has done well by its customers. Amazon has high-quality security measures and excellent shipping methods, which tend to make people have a positive experience with the company.