20210122_Trust_Business_IBT Share of the public who trusted businesses in selected countries in November 2020 Photo: Statista/IBT

A strong level of trust with customers is going to prove hugely important for recovering businesses when the pandemic finally comes to an end. This has already become evident in some sectors such as the airline industry which has been providing passengers with the option to alter their booking free of charge, depending on their situation.

A survey by Edelman Research polled 33,000 respondents in 28 countries about their trust in business from October 19 to November 18, 2020. The research found that people in India and China have the highest trust at 82 percent and 70 percent, respectively. The figure was far lower in the United States at 54 percent while it was lower still in Russia at just 34 percent.

Edelman also examined trust levels in the government, NGOs, and the media. Interestingly, business emerged as the most trusted institution in the survey while it was the only one considered both ethical and competent.