Almost two-thirds or 62% of consumers say they trust small/local businesses more than major retailers. This is compared to 36% who said they trust large, national retailers. But even though small businesses have consumer trust, they need to do more to keep it going.
The data comes from Avions’ “New Habits Die Hard: How Trust Will Define Shopping in Summer 2021,” U.S. shopping report. The report highlights some of the measures retailers, small and large, must take as spending increases this summer.
Consumer Trust and Small Businesses
It is not surprising consumers trust their small/local businesses. After all, they probably see them more often, know the owner, and they feel a sense of community with them. However, this alone is not going to get customers to keep buying from these businesses.
Add the way the ongoing pandemic forever changed the way consumers shop, and small businesses will have to do more. According to the report, consumers trust small businesses when it comes to trust-building offerings like fair prices and delivering orders on time. And this must continue if they want to keep their customers.
This is because more than three-quarters (77%) of shoppers have come to trust certain brands. Moreover, 99% of these customers will continue shopping with those brands after restrictions ease. They say this is due to the actions these brands have taken during the pandemic.
Whether the business is big or small, the summer of 2021 is going to provide great opportunities. And as Dan Neiweem, co-founder and principal at Avionos said in the release, “… nearly 40% of consumers are ready to buy experiences like vacations and other big-ticket purchases.” Adding, “Retailers should capitalize on the shift in sentiment by innovating on opportunities to make shopping as reliable and frictionless as possible.”
The Avionos report goes on to say, consumers now expect more than simply great online experiences. Adding streamlining your online shopping and fast deliveries is not enough. There must be more focus on building trust within their consumer base. And this will require offering fair prices (48%), delivering correct, accurate orders (43%), and following COVID-19 procedures (40%), such as social distancing and regular sanitization.
In addition to these demands, consumers are also looking for reliability. Close to half or 45% say brands need to deliver what they expect when they expect it. And this is a top consideration when trusting a brand. They also want fairness in prices and policies (21%), great online reputation (11%), easy online purchase experience (27%), responding quickly to inquiries (20%), and taking extra safety precautions (17%).
Considering 48% of respondents are set to spend more on shopping in summer 2021, businesses of all sizes must take these concerns seriously. After all, for 37% of the respondents, the spending is going to include big-ticket items like cars and vacations this summer.