Report confirms trust plays key role in Canadian consumers' purchase decisions.
TORONTO, Jan. 11, 2017 /CNW/ - Reader's Digest announces the results of Canada's ninth annual Trusted Brand™ Survey, confirming that trust is an important driver in Canadian consumers' purchase decisions. While 49% of Canadians agree that they buy items solely based on price, more than half do not, which leaves other influences, like trust, to drive their purchase decisions.
Trust influences how Canadians spend and invest their money.
Overwhelmingly, 93% of Canadians say they tend to buy products or services from companies they trust more. In fact, 81% of Canadians disclosed they would be willing to pay a little more money to support a product or service from a company they trust. Trust also influences investment decisions, given that 91% of Canadians reported they are more likely to invest their money in trusted companies. "Companies compete for share of wallet; and to influence purchase decisions, companies need to present consumers with a point of difference—trust is that difference," said Karin Rossi, Publisher, Reader's Digest Brands-Canada.
Findings from the study indicate that 86% of Canadian consumers pay more attention to trusted companies. Furthermore, 77% say they are more likely to remember advertisements from companies they trust. Six in 10 Canadians (63%) say they trust third-party recognition of products and services such as awards and seals of excellence—up 4% from 2016. "Companies have the responsibility of earning and nurturing consumers' trust in their products and services. The Trusted Brand™ award program celebrates the 2017 winners, and is also a means for companies to effectively communicate Canadian consumers' confidence in their brands throughout the year," said Rossi.
In an independent opinion poll commissioned by Reader's Digest, Ipsos Canada conducted an online survey of 4,009 Canadians to identify brands they trust. Respondents were asked for their most trusted brand within each category, in an open-ended question format. The most Trusted Brand™ status is awarded to top brands across 30 product categories. Some of the 2017 winning brands include:
| - Arthritis Pain Reliever: |
Tylenol |
| - Automotive Parts Retailer: |
Canadian Tire |
| - Beauty Retailer: |
Sephora |
| - Bottled Water: |
Nestlé |
| - Comfort/Walking Shoe |
Nike |
| - Consumer Electronics Retailer |
Best Buy |
| - Interior Paint: |
Behr |
| - Sensitive/Dry Skin Lotion |
Aveeno |
| - Travel Insurance |
Blue Cross |
Reader's Digest recognizes brands that have won most Trusted Brand™ status in the same category for five or more consecutive years by awarding them with a distinctive gold seal. Some of the 2017 gold winners include:
| - Bank/Trust Company: |
TD Canada Trust (6 years) |
| - Coffee Retailer: |
Tim Hortons (5 years) |
| - Life Insurance Company: |
Sun Life Financial (8 years) |
| - Headache Pain Reliever: |
Tylenol (5 years) |
| - Hybrid Car Manufacturer: |
Toyota (7 years) |
| - Passenger Car Manufacturer: |
Toyota (9 years) |
| - Drug Store: |
Shoppers Drug Mart (5 years) |
| - Sunscreen: |
Coppertone (8 years) |
| - Vitamin: |
Jamieson (7 years) |
The full list of the 2017 Trusted Brand™ winners is published online at rd.ca/trusted-brands/winners-list.
About the Survey
In an independent opinion poll, commissioned by Reader's Digest, Ipsos Canada conducted an online survey of over 4,009 Canadian adults from Sept 9-16, 2016. Results were weighted to census data to be representative of the population. Using a credibility interval, the overall results are considered accurate to within +/-1.8 percentage points, 19 times out of 20, of what the results would be had the entire population of adults been polled.
About Reader's Digest Magazines Ltd.
Reader's Digest Magazines Ltd. publishes five magazines, including Reader's Digest – Canada's most-read magazine – Sélection, Best Health, Our Canada, and More of Our Canada, with a purpose to educate, entertain, and inspire. For more information, visit RD.ca.
™Trusted Brand is a registered trademark.
SOURCE Reader's Digest
Susan Zuzinjak, [email protected], 416-782-2300, ext. 201
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