March 26, 2015 Leave a comment
We just published the 2015 Temkin Trust Ratings, the fifth year of the ratings. It uses feedback from 10,000 U.S. consumers to rate the level of trust that consumers have with 293 organizations across 20 industries.
Since it’s the fifth year of the ratings (see ), I’m taking a look at some trends:
- Four industries have increased their Temkin Trust Ratings for four consecutive years: Airlines, computers, banks, and credit cards. Over the previous year, 10 industries declined while five improved.
- All of the 12 industries that have been in the ratings since the beginning have improved. Banks and credit cards have gained the most over the previous five years (+24 points), while Internet service providers (+5 points) and retailers (+6 points) gained the least.
- Four industry averages increased more than one point in their Temkin Trust Ratings between 2014 and 2015: Hotels (+4.2 points), computers & tables (+3.8), banks (+2.8), and credit cards (+2.6).
- Eight industry averages decreased more than one point in their Temkin Trust Ratings between 2014 and 2015: Internet service (-4.6 points), auto dealers (-3.6), software (-2.8), investment firms (-2.7), major appliances (-2.5), TV service (-2.4), health plans (-1.7), and wireless carries (-1.6).
- 132 companies have been in the Temkin Trust Ratings for five years. Over that time, US Bank, USAA (banking), and credit unions (banking) have gained the most, (+30 or more points). Cox Communications has dropped the most (-21 points), while MSN and Edward Jones are the only other firms to drop by more than 10 points.
- Led by Residence Inn’s improvement of 22 points between 2014 and 2015, 41% of the firms that were in both years Ratings improved by at least 1 point. Five other firms gained more than 15 points over the previous year: Qwest, Hyatt, Panda Express, HSBC, and Holiday Inn Express.
- Forty-three percent of firms dropped at least one point between 2014 and 2015, with Coventry Health Care dropping the most (21 points). Five other firms lost 15 or more points between 2014 and 2015: Health Net, Cox Communications, BMW, Advantage RAC, and TD Ameritrade.