USAA and Wegmans Are the Most Trusted Companies, According to New Temkin Group Research

Eighth Annual Temkin Trust Ratings Evaluates 318 Companies Across 20 Industries

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Temkin Group

May 15, 2018, 08:35 ET

WABAN, Mass., May 15, 2018 /PRNewswire/ -- Temkin Group announces the release of the 2018 Temkin Trust Ratings (TTR). Based on a study of 10,000 U.S consumers, the ratings benchmarks the level of trust that consumers have with 318 companies across 20 industries. USAA's (TTR of 81%) banking business earned the top spot, followed by Wegmans (79%), credit unions (77%), H-E-B (77%), and USAA's credit card and insurance businesses (75%).

Four TV/Internet service providers earned the lowest Temkin Trust Ratings: Comcast (22%), Charter Spectrum (25%), Optimum (29%), and Cox Communications (29%).

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Temkin Ratings: The Open-Source Benchmark of Customer Experience And Loyalty (TemkinRatings.com)
Temkin Ratings: The Open-Source Benchmark of Customer Experience And Loyalty (TemkinRatings.com)

"When it comes to earning consumer trust, TV/Internet service providers are failing miserably. They let down customers so regularly that they've fostered an environment of deep mistrust," states Bruce Temkin, managing partner of Temkin Group.

Highlights of the 2018 Temkin Trust Ratings include:

  • The supermarket industry earned the highest average TTR (66%), followed by investment firms (62%), insurance companies (61%), and auto dealers (61%).

  • TV/Internet service providers earned the lowest average TTR (32%), well below the next lowest industry, health plans (49%).

  • When compared with their industry averages, eight companies earned TTRs that were at least 15 points above their peers: USAA (banks and credit cards), Alabama Power Company, credit unions, TriCare, Advantage Rent-A-Car, Regions Bank, and Navy Federal Credit Union.

  • Seven companies earned TTRs that were 15 or more points below their industry averages: Days Inn, Sears, San Diego Gas & Electric, CarMax, Wells Fargo, Motel 6, and Spirit Airlines.

  • The TTRs for all 20 industries declined between 2017 and 2018. The largest decline was in utilities (-6.2 %-points) and the smallest decline was in health plans (-0.9).

  • Between 2017 and 2018, Showtime improved the most (+13 %-points). Six other companies improved by seven or more points: Taco Bell, Whirlpool, Pizza Hut, Foot Locker, Family Dollar, and O'Reilly Auto Parts.

  • Between 2017 and 2018, Appalachian Power Company declined the most (-26 %-points). Eight other companies declined by 15 or more points: Spirit Airlines, Michael's, Jeep, CarMax, Fox Rent A Car, Haier, PSE&G, and HSBC.

In its eighth year of publication, the 2018 Temkin Trust Ratings examines the likelihood of consumers to trust companies. It evaluates 318 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.

The 2018 Temkin Trust Ratings along with other ratings can be accessed at the Temkin Ratings website, www.TemkinRatings.com.

Detailed results  and datasets for the 2018 Temkin Trust Ratings can be downloaded from the Customer Experience Matters® blog, at ExperienceMatters.wordpress.com as well as from the Temkin Group website, www.TemkinGroup.com.

About Temkin Ratings: Temkin Ratings is a product of Temkin Group that amplifies the voice of consumers by making their feedback widely available and comparable across companies and industries. It's a collection of different benchmark metrics that provide key insights into how large organizations treat their customers. Temkin Ratings evaluates organizations based on feedback collected from a large-scale online survey of consumers, with quotas set to closely match the U.S. Census data for age groups, income levels, gender, geographic region, and ethnicity. Temkin Ratings include, Temkin Experience Ratings, Temkin Forgiveness Ratings, and Temkin Trust Ratings.

About Temkin Group: Temkin Group is widely recognized as a leading customer experience research and consulting firm. Many of the world's largest brands rely on its insights and advice to steer their transformational journeys. Temkin Group combines customer experience thought leadership with a deep understanding of the dynamics of organizations to help accelerate results. Rather than layering on cosmetic changes, Temkin Group helps companies embed practices within their culture by building four critical competencies: Purposeful Leadership, Employee Engagement, Compelling Brand Values, and Customer Connectedness. The firm's ongoing research identifies leading and emerging best practices across a wide range of activities for engaging the hearts and minds of customers, employees, and partners. For more information, contact Bruce Temkin at 617-916-2075 or send an email to [email protected].

Customer Experience Matters is a registered trademark of Temkin Group.

SOURCE Temkin Group

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