October 6, 2021 (Global News Distribution) -

Trust in finance & retail companies is of increased importance as year 2 of the pandemic comes to an end

Today, in partnership with Newsweek magazine, BrandSpark International announced its 9th annual BrandSpark Most Trusted Awards (BMTAs) winners in Finance & Insurance, Health & Fitness, Retail & Restaurants, Telecom & Home, Travel and Apps & Websites as voted by American shoppers. In one of the largest studies of its kind, BrandSpark surveyed 7858 Americans to capture their honest opinions of what brands they trust the most as well as the reasons for their trust across 62 unique categories.

Finance, Insurance, and Retail –
As the world approaches the end of year two of the pandemic, BrandSpark expanded its study to include 12 new Finance & Insurance categories in the 2022 edition, partly because many Americans have been reviewing their personal finances. Adam Bellisario, Associate Vice-President of the program said, “Many Americans were negatively affected by the pandemic, but savings rates actually increased. Knowing which finance and insurance brands other Americans trust the most can help them make smarter decisions on personal finances.”

Government restrictions transformed the retail industry and heightened consumer cautiousness, translating to the need for a high level of trust in this segment. The study added 12 retail categories where trust will have enhanced relevance as shoppers return to brick & mortar establishments more frequently. Robert Levy, BrandSpark International President, says, “Most consumers want to avoid or minimize contact with others, so it is crucial that retail and restaurant brands build trust, which might look like a well thought out and clearly communicated plan showing exactly how they have consumers’ interests in mind.”

The annual BrandSpark American Shopper Study found that price sensitivity is at its lowest point in recent years across the majority of categories. More Americans increasingly value premium quality products as savings on travel, dining and in other areas have helped shoppers justify paying more for better brands elsewhere. Consumers are trading up more often but still want to ensure they are making smart buying decisions” says Levy. “Buying brands they know are highly trusted by others increases the likelihood that they will deliver a great experience.”

Why is trust important? –
BrandSpark has found that consumers buy brands they trust more frequently and pay more for them. Brands can build trust by focusing on eight key trust drivers identified by BrandSpark: Quality, Fair Prices, Recommendation, Innovation, Customer Support, Values, Transparency, and Heritage. “Trust is important because it builds loyalty and engagement between consumers and brands; everyone benefits when building trust is prioritized” confirms Philip Scrutton, Vice-President Shopper Insights, BrandSpark International. “The BrandSpark American Shopper Study showed that 75% of shoppers trust consumer voted awards. Since the BrandSpark Most Trusted Awards are completely determined by consumers, it provides a consensus of trust which allows consumers to shop smarter and encourages purchasing those brands that are most trusted,” says Scrutton.

5 Notable Winners from the 2022 BrandSpark Most Trusted Awards –
1. Most Trusted Job Site/Employment Classified – Indeed secured the highest share of trust of any brand in the study at 69%, and highest margin over the next closest competitor at 62.5%

2. Most Trusted Airline for Cleanliness – Southwest won this valuable honor as Americans take to the skies more frequently and want to ensure a clean and safe flying experience

3. Most Trusted Cryptocurrency Exchange – Coinbase dominates this fairly new space which has garnered major interest but is still establishing trust with investors

4. Most Trusted Tax Preparation Software – Turbotax has helped many Americans file their taxes from the comfort of their home.

5. Most Trusted Short-term rental site – Airbnb is the most trusted Short-term Rental Booking Site with a 47% trust share. As consumers are more willing to travel again we can expect increasing rental bookings from consumers remembering who they should trust.

The winners and how they are determined –
The 2022 BrandSpark Most Trusted Awards winners are listed below. The brand(s) voted most trusted is listed as Gold. The brand(s) listed as Silver and Bronze are considered “Top Ranked”, having garnered a significant trust share in the category.

7858 American shoppers determined the BrandSpark Most Trusted Awards winners for 2022 through their top-of-mind unaided responses for categories in which they shop. The results are ranked based on the greatest volume of mentions as the most trusted brand in the category (ties are declared if the margin of victory is within 3%). Brands must receive minimum 10% trust share to be eligible to be recognized.

APPS & WEBSITES

Circulars
Gold: Flipp
Silver: N/A
Bronze: N/A

Food Delivery
Gold: DoorDash
Silver: Uber Eats
Bronze: Grubhub

Internet Radio Network
Gold: Pandora
Silver: iHeartRADIO / Sirius XM / Spotify (tie)
Bronze: N/A

Job Search
Gold: Indeed
Silver: N/A
Bronze: N/A

Online Real Estate Search
Gold: Zillow
Silver: realtor.com
Bronze: N/A

Ride Sharing
Gold: Uber
Silver: Lyft
Bronze: N/A

Short-term Rentals
Gold: Airbnb
Silver: VRBO
Bronze: N/A

Website Builder
Gold: Wix
Silver: GoDaddy / WordPress (tie)
Bronze: N/A

FINANCIAL & INSURANCE SERVICES

Auto Insurance
Gold: State Farm
Silver: Progressive
Bronze: Geico

Bank Customer Service (National)
Gold: Bank of America / Chase (tie)
Silver: N/A
Bronze: N/A

Bank Customer Service (Midwest)
Gold: Chase
Silver: N/A
Bronze: N/A

Bank Customer Service (Northeast)
Gold: Bank of America / Chase (tie)
Silver: N/A
Bronze: N/A

Bank Customer Service (South)
Gold: Bank of America / Wells Fargo (tie)
Silver: N/A
Bronze: N/A

Bank Customer Service (West)
Gold: Chase
Silver: N/A
Bronze: N/A

Cashback Credit Card
Gold: Discover
Silver: Capital One
Bronze: Chase

Credit Card with Perks
Gold: Chase
Silver: Capital One / Discover (tie)
Bronze: N/A

Cryptocurrency Exchange
Gold: Coinbase
Silver: Robinhood
Bronze: N/A

Financial News
Gold: Wall Street Journal
Silver: N/A
Bronze: N/A

Full-Service Investment Brokerage
Gold: Fidelity
Silver: Edward Jones
Bronze: N/A

Home Insurance
Gold: State Farm
Silver: Allstate
Bronze: N/A

Life Insurance
Gold: State Farm
Silver: Metlife
Bronze N/A

Low Interest Credit Card
Gold: Capital One
Silver: Discover
Bronze: Chase

No Annual Fee Credit Card
Gold: Capital One / Discover (tie)
Silver: N/A
Bronze: Chase

Online Bank
Gold: Chime
Silver: N/A
Bronze: N/A

Online Payment
Gold: Paypal
Silver: N/A
Bronze: N/A

Personal Banking (National)
Gold: Bank of America / Chase (tie)
Silver: N/A
Bronze: N/A

Personal Banking (Midwest)
Gold: Chase
Silver: N/A
Bronze: N/A

Personal Banking (Northeast)
Gold: Bank of America / Chase (tie)
Silver: N/A
Bronze: N/A

Personal Banking (South)
Gold: Bank of America
Silver: N/A
Bronze: N/A

Personal Banking (West)
Gold: Chase / Wells Fargo (tie)
Silver: N/A
Bronze: N/A

Real Estate Agency
Gold: RE/MAX
Silver: N/A
Bronze: N/A

Self-Directed Online Investing
Gold: Robinhood
Silver: Fidelity / TD Ameritrade (tie)
Bronze: N/A

Store Credit Card
Gold: Kohl’s
Silver: Walmart
Bronze: Target

Supplemental Health Insurance
Gold: Blue Cross Blue Shield / United Healthcare (tie)
Silver: N/A
Bronze: N/A

Tax Preparation Software
Gold: TurboTax
Silver: H&R Block
Bronze: N/A

Travel Rewards Credit Card
Gold: Chase
Silver: American Express
Bronze: N/A

HEALTH & FITNESS

Gym
Gold: Planet Fitness
Silver: YMCA
Bronze: N/A

Weight Loss Program
Gold: WW (Weight Watchers)
Silver: Noom
Bronze: N/A

RETAIL & RESTAURANT CHAINS

Auto Parts
Gold: AutoZone
Silver: O’Reilly
Bronze: Advance

Camping & Outdoor Gear
Gold: Cabela’s / Dick’s (tie)
Silver: N/A
Bronze: Bass Pro Shops / REI (tie)

Chicken Restaurant
Gold: KFC
Silver: Chick-fil-A
Bronze: Popeyes

Coffee Shop
Gold: Starbucks
Silver: Dunkin’
Bronze: N/A

Cosmetics
Gold: Ulta Beauty
Silver: Sephora
Bronze: N/A

Family Dining (National)
Gold: Applebee’s / Olive Garden (tie)
Silver: N/A
Bronze: N/A

Family Dining (Midwest)
Gold: Applebee’s / Olive Garden (tie)
Silver: N/A
Bronze: N/A

Family Dining (Northeast)
Gold: Applebee’s
Silver: N/A
Bronze: N/A

Family Dining (West)
Gold: Olive Garden
Silver: N/A
Bronze: N/A

Gas Station
Gold: Shell
Silver: N/A
Bronze: N/A

Glasses / Prescription Eyewear
Gold: America’s Best / Walmart (tie)
Silver: N/A
Bronze: N/A

Golf Clubs and Accessories
Gold: Dick’s
Silver: N/A
Bronze: N/A

Haircuts
Gold: Great Clips
Silver: SUPERCUTS
Bronze: N/A

Hunting & Fishing Gear
Gold: Bass Pro Shops
Silver: Cabela’s
Bronze: Dick’s

Pharmacy
Gold: CVS
Silver: Walgreens
Bronze: Walmart

Smoothie/Juice Bar
Gold: Jamba
Silver: Smoothie King
Bronze: Tropical Smoothie Cafe

Sports Bar
Gold: Buffalo Wild Wings
Silver: N/A
Bronze: N/A

Tires Sales & Service
Gold: Discount Tire (America’s Tire)
Silver: N/A
Bronze: N/A

TELECOM & HOME SERVICES

Alarm Service
Gold: ADT
Silver: Ring
Bronze: N/A

Cellular Service
Gold: Verizon
Silver: AT&T / T-Mobile (tie)
Bronze: N/A

Discount Cellular Service
Gold: Tracfone
Silver: Consumer Cellular
Bronze: N/A

High Speed Internet
Gold: Charter Spectrum
Silver: Xfinity
Bronze: AT&T

Home Phone Service
Gold: AT&T
Silver: Verizon / Xfinity (tie)
Bronze: N/A

Meal Kit Delivery
Gold: HelloFresh
Silver: Blue Apron
Bronze: N/A

Moving Company
Gold: U-Haul
Silver: N/A
Bronze: N/A

TV Service
Gold: Charter Spectrum / Xfinity (tie)
Silver: N/A
Bronze: Dish / DIRECTV (tie)

TRAVEL SERVICE PROVIDERS

Air Travel to Europe
Gold: American Airlines / Delta (tie)
Silver: N/A
Bronze: United

Air Travel to Sun Destinations
Gold: Southwest
Silver: American / Delta (tie)
Bronze: N/A

Airline for Cleanliness
Gold: Southwest
Silver: Delta
Bronze: American

Airline Loyalty Program
Gold: Delta Skymiles / Southwest Rapid Rewards (tie)
Silver: N/A
Bronze: AAdvantage (American)

Budget Hotel
Gold: Holiday Inn
Silver: Best Western / Motel 6 (tie)
Bronze: N/A

Car Rental
Gold: Enterprise
Silver: Hertz
Bronze: N/A

Cruiseline
Gold: Carnival
Silver: Royal Caribbean
Bronze: Norwegian / Princess (tie)

Domestic Air Travel
Gold: Delta
Silver: American / Southwest (tie)
Bronze: N/A

Vacation Packages
Gold: Expedia
Silver: N/A
Bronze: N/A

Newsweek Media Partnership –
BrandSpark has partnered with premier media brand Newsweek to shine a bright light on these award-winning brands. The partnership will include features of the winners, targeted communications to readers and unique high-value advertising opportunities for brands anchored by editorial content. The BrandSpark Most Trusted Awards has updated its highly influential logo to include the iconic and instantly recognizable Newsweek logo to generate even more impact for shoppers and brands.

About BrandSpark International –
Founded in 2001, BrandSpark International is a research and consulting firm that provides brands with the insights they need to understand the omni-channel shopper, refine their strategic brand positioning, build consumer trust and improve the success of their new product launches. BrandSpark Marketing Services runs major awards programs the Best New Product Awards and the BrandSpark Most Trusted Awards, and leading shopper community and digital promotions platform ShopperArmy.com.

Permission and authorization are required to reference the BrandSpark Most Trusted Awards win or use the claim or logo.

For further information, interview requests, or a complimentary topline presentation of the research please contact:
Adam Bellisario, Associate Vice-President, abellisario@brandspark.com

For licensing information, please contact:
Brian Kolb, Chief Brand Officer, ENVeritas, brian@enveritasgroup.com

Contact Author

ADAM BELLISARIO

BrandSpark International
1 4165610096