Consumers wary of big business
A new survey of Australian consumers shows that they are suspicious of big business, believing that it exists only for shareholders; 75 per cent prefer to deal with small businesses.
Consumers are also very wary about handing over personal details to big business due to concerns about privacy issues. They value personal service but 80 per cent believe that think it's a thing of the past. They will pay a bit extra for good service and are prepared to shop and invest with companies that extend loyalty to them. The number of people willing to pay for good service is now at its highest level in five years.
Seven out of ten consumers believe that powerful foreign companies are running Australia, while a huge 93 per cent much prefer to deal with companies whom they believe act in a “decent, ethical way”.
Brand names do not rate particularly well, as 75 per cent of consumers do not consider that a big-name brand means it can be trusted, and two-thirds believe that a such a brand name does not necessarily equate with quality.