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What role does trust play in the relationship between consumers and retailers, and how is this being affected by digital transformation?
Reply has conducted a comprehensive research program representing circa 31m people in the UK to understand the impact of trust on brand loyalty in this digital age.
Reply has unearthed some startling conclusions that challenge conventional wisdom in regard to trust, and discovered that technology can be used to catapult a retailer into the hearts of the nation.
Findings include the observations on the relationship between trust and quality, price, ethics, values, technology and personal data.
There are clear opportunities for new technologies that can further enhance and streamline the purchase process, although uptake may be slow at first.
The research was led by Retail Reply, Open Reply and Portaltech Reply.
Read the Press Release
The research conducted by Reply has revealed that there are several myths concerning trust and retail that need to be debunked.
In a world where environmental and ethical issues are a key concern, retailers are trying harder than ever to demonstrate their social responsibility.
Giving good value for money can create trust, but it’s not as simple as just reducing prices.
We saw that while trust can be hard to earn and easy to lose, it’s not so unforgiving that one experience of poor service permanently damages the relationship.
While Minority Report-style automated retail technology is almost within reach, we hypothesised that consumers would still be resistant to features like facial recognition, RFID packaging and automated check-out and payments.
This is often true when meeting face-to-face with staff who are informed, engaged and empowered – as typified by local traders or specialist shops.