According to a new PwC survey, 87% of business leaders think customers “highly trust” their companies, but only 30% of consumers do.
Recent price spikes have eroded people’s trust in companies, PwC U.S. Chairman Tim Ryan explained, partly because companies are not elaborating on their pricing decisions.
The PwC report found that 71% of consumers say they are unlikely to buy from a company if it loses their trust.
Employees, on the other hand, are more likely than consumers to trust their companies. Sixty-nine percent of employees say they “highly trust” their employer. See the report.