Brands Beat Out Governments, Institutions in Consumers’ Trust Ladder: Deloitte

Core Insights - Brands are emerging as trusted entities amid political instability and societal polarization, ranking just below personal relationships in consumer trust [1][2] - The Deloitte report indicates that consumers are increasingly viewing brands as promoters of aspirational value systems [1] Consumer Trust in Brands - Brands have surpassed governments and institutions in consumer trust, with a survey of 7,000 respondents across seven key consumer countries revealing this trend [2] - Trust in small and indie brands stands at 51%, while larger brands are trusted by 58.2% of respondents, both figures showing an increase compared to five years ago [3] Expectations from Brands - Consumers expect brands to cultivate direct relationships, promote authentic storytelling, and maintain a clear identity [4] - Personalization is crucial, with 57.9% of respondents influenced by tailored products and services in forming long-term connections with brands [5] Brand Identity and Consistency - The identity of fashion brands is increasingly shaped by consumer perceptions rather than solely by the brands themselves, highlighting the importance of understanding one's own identity [6]