Shrinking the consumer trust deficit

Trust is crucial for consumers and for the companies that sell products and services to them: as shoppers confront a set of overlapping and often mutually reinforcing disruptions-financial, ecological and technological-they are prioritizing reassurance and reliability from the brands they engage with.

The good news for leaders of consumer-facing businesses: global consumer markets are set to continue espanding. The global consumer class, comprised of those spending US$12 or more per day, reached 4 billion last year, and is projected to reach 5 billion people by 2031. The bad news: there's a widening gap between the trust that executives think consumers place in their companies and the trust that consumers actually have in them. In order to maintain and grow market share, companies must figure out how to build trust in several dimensions.

When making a purchasing choice, the Romanian consumer first looks at the financial aspect, then health and finally the climate issue. Our first PwC Voice of the Consumer Survey for Romania highlights how businesses must balance affordability, sustainability, technology, and data protection to enhance customer loyalty and thrive in a competitive landscape.