In the relationship of confidence that forms between a brand and its customers, it seems that proximity and intimacy play a critical role.
When it comes to buying a brand, consumers tend to place the greatest confidence in the advice of their inner circle (87%). The development of the sharing economy has been very much reliant on the confidence individuals place in their fellow consumers. 63% of Europeans declare that they take into account ratings and opinions posted online. And 60% believe that the verdicts of comparison sites and other web publications should be taken on board. In addition, many people take notice of articles in specialist magazines.
Gone is the time when consumers listened to just one opinion. What is now emerging is a cross-channel approach whereby they gain confidence by gathering a range of different viewpoints.
But as this new story unfolds, a new loser is emerging. Only 52% of Europeans have confidence in salespeople and 60% have even given up on a purchase because they lacked confidence in them.