USAA, Credit Unions and Publix Are The Most Trusted Companies, According to New Temkin Group Research
Sixth Annual Temkin Trust Ratings Evaluates 294 Companies Across 20 Industries
WABAN, Mass., April 12, 2016 /PRNewswire/ -- Temkin Group announces the release of the 2016 Temkin Trust Ratings. Based on a study of 10,000 U.S consumers, the ratings benchmarks the level of trust that consumers have with 294 companies across 20 industries. For the second straight year, USAA (for banking and insurance) took the top two spots. The next highest scoring companies are credit unions, Publix, Mercedes-Benz, USAA (credit cards), Chick-fil-A, Amazon.com, Residence Inn, H-E-B, Lexus, and BJ's Wholesale Club.
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Also for the second year in a row, Comcast earned the lowest two spots in the Temkin Trust Ratings for its TV service and Internet service businesses. But many of its competitors also earn very poor ratings. The next lowest rated companies are Charter Communications (for Internet service and TV service), Time Warner (for Internet service and TV service), and Cox Communications.
"TV service and Internet service providers have 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 2016 Temkin Trust Ratings include:
- The supermarket industry earned the highest average Temkin Trust Ratings (61%), and was the only industry to earn an "okay" rating. Insurance companies, retailers, investment firms, and hotels were next on the list with mediocre ratings between 54% and 55%.
- TV services (27%) and Internet services (29%) fell far below any other industries. The next lowest industry is health plans, which has a rating that is more than 10 points higher (40%).
- The following companies outperformed their industry average by 15 points or more: USAA (banks, credit cards, and insurance), Kaiser Permanente, Chick-fil-A, credit unions, Amazon.com (computers & tablets),Lexus, and TriCare.
- The following companies are 15 points or more below their industry average: Motel 6, Chrysler, HSBC, Citibank, Super 8, Days Inn, Compaq, Spirit Airlines, Compact, Haier, and Dollar Rent A Car.
- Of the 260 companies in the 2015 and 2016 Temkin Trust Ratings, 81% of companies decreased in score while only 13% increased.
- Mercedes-Benz, Consolidated Edison Company of New York, Charles Schwab, and Fox Rent A Car are the only companies with double-digit increases in their Temkin Trust Ratings over the last year.
- Dodge, Office Depot, E*TRADE, Toys 'R' Us, Subaru, Chrysler, and Cadillac declined the most, leading 78 companies that feel by more than 10 points.
- The average Temkin Trust Ratings across all industries declined between 2015 and 2016, with the largest drop in Computers & Tablets (down 8 points) and the smallest decline in hotels, wireless carriers, and Internet service providers (down 3 points).
In its sixth year of publication, the 2016 Temkin Trust Ratings examines trust across 20 industries: airlines, auto dealers, banks, computer and tablet makers, credit card issuers, fast food chains, health plans, hotel chains, insurance carriers, Internet service providers, investment firms, major appliance makers, parcel delivery services, rental car agencies, retailers, software firms, supermarket chains, TV service providers, utilities, and wireless carriers.
The 2016 Temkin Trust Ratings along with other ratings can be accessed at the Temkin Ratings website, www.TemkinRatings.com.
Detailed datasets for the 2016 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 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.
Customer Experience Matters is a registered trademark of Temkin Group.
SOURCE Temkin Group
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