Study reveals blockchain technology can maximize perceptions of trust
For example, 25% of consumers say that they have become less trusting of food brands in the last two years.
In an age of globalization and information, consumers are becoming less trusting of the food products and brands they buy. This is primarily due to the fact that consumer interests and wider environment concerns are less important than profit margins. As such, brands and products need to look for ways to maximize trust amongst consumers. One key way of doing this is through utilizing blockchain technology.
Trust is more important than ever for consumers. For example, 51% of people are most likely to say that trust is associated with better quality, according to a Q3 2019 survey of 20,000 consumers across 20 countries. The survey, conducted by FMCG Gurus, UK, reveals that across the globe, 51% of consumers are trusting of food brands – with 31% saying they are untrusting. Moreover, 25% of consumers say that they have become less trusting of food brands in the last two years.