The most trusted—and least trusted—companies rankedBy Bulldog Reporter on June 14th, 2017 | Reading time: 2 minutes
Customer experience research firm Temkin Group recently announced the release of its 2017 Trust Ratings. Based on a study of 10,000 U.S consumers, the ratings benchmark the level of trust that consumers have with 329 companies across 20 industries.
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H-E-B and Mercedes-Benz tied for the tops spots, followed closely by USAA (for banking and insurance), and Navy Federal Credit Union.
Three TV/Internet service providers earned the lowest ratings: Time Warner Cable, Comcast, and Cox Communications. Eleven of the bottom 12 companies are either TV/Internet service providers or health plans.
“It’s disappointing to see how TV/Internet service providers and health plans have let down customers so regularly that they’ve fostered an environment of deep mistrust,” said Bruce Temkin, managing partner of Temkin Group, in a news release.
This year’s rankings for most trusted and least trusted companies:
Highlights of the 2017 Temkin Trust Ratings include:
- The supermarket industry earned the highest average ratings (68 percent), followed by auto dealers (66 percent), and investment firms (65 percent).
- TV/Internet services (36 percent) fell far below any other industries. The next lowest industries are health plans (50 percent), and wireless (53 percent).
- The following companies outperformed their industry averages by 15 points or more: USAA (banks, credit cards, and insurance), Navy Federal Credit Union, Advantage Rent-A-Car, ACE Rent A Car, Mercedes-Benz, and credit unions.
- The following companies fell at least 15 points below their industry averages: Airbnb, RadioShack, Days Inn, Commonwealth Edison, Wells Fargo, and Kmart.
- All 19 industries that were in both the 2016 and 2017 Temkin Trust Ratings made improvements over last year. The largest improvements were in utilities (+16 points) and auto dealers (+14 points).
- Of the 280 companies in the 2016 and 2017 Temkin Trust Ratings, 98 percent of companies increased in score. Fujitsu, HSBC, Dollar, Advantage Rent-A-Car, Haier, Volkswagen, Subaru, and Dominion Virginia Power all increased by at least 25 points.
- Allstate, Taco Bell, Time Warner Cable, Avis, JCPenney, and Wells Fargo are the only companies who did not see an increase in their ratings.
In its seventh year of publication, the 2017 Temkin Trust Ratings examines the likelihood of consumers to forgive companies after they make a mistake. It evaluates 329 companies across 20 industries: Computers & Tablets, Insurance, Investments, Credit Cards, Health Plans, TV/Internet Service, Streaming Media, Wireless, Airlines, Hotels & Rooms, Retailers, Fast Food, Rental Cars & Transport, Supermarkets, Parcel Delivery, TV & Appliances, Auto Dealers, Software Firms, and Utilities.