Consumer Trust In ‘Household Name’ Brands Is More Than Three Times Higher Than In Any Online Shopping Standard According To Survey.
A new national survey commissioned by Directline.com has revealed that more than three times as many UK consumers continue to prefer to put their trust in well known, household name brands when buying online, as opposed to having faith in online shopping standards, or ‘kite marks’.
In total 61% of respondents preferred to buy from an offline brand that they knew and trusted online versus only 20% who were comfortable purchasing from an unknown website despite it belonging to an online shopping standard.
Although attitudes differed slightly across age groups, a strong general preference for trusting known offline brands against the unknown was present throughout the survey’s findings:
• In total, almost double the amount of respondents claimed to prefer purchasing from a trusted online brand (55%) than an unknown online company (28%).
• Almost 50% more respondents aged between 35 and 44 preferred to buy online from a ‘known and trusted’ brand that exists offline (45%) rather than from an unknown online brand (31%).
• The age group most likely to buy online from a brand they know and trust was respondents aged between 55 and 64 (with 53% versus a national average of 40%).
• Even younger respondents (25-34 year olds), traditionally an audience that is considerably more relaxed regarding online brand affiliation, considered offline brand awareness to be a key factor for financial products. Although the national average was 55% across all ages, 65% of 25-34 year olds prefer to buy a financial product, such as insurance, online from a household name company over an unknown company. However, 25-34 year olds were also twice as likely to buy financial products online versus the national average (26% versus 13%).
• Finally, more than twice as many people aged 45-54 prefer to buy online from a brand they know and trust (43% versus 21%).
The survey, commissioned by Directline.com, The UK’s largest online insurer, was commissioned to better understand consumer attitudes towards brand trust, specifically comparing attitudes to well known offline brands versus the highly competitive online market in which Direct Line is an industry leader.
Richard Coombe, Head of E-Commerce at Direct Line said:
“The results of this survey strongly reflect that consumers continue to need brand reassurance when making a purchase online. It appears that the same rules exist whether the purchase is a small, personal item such as a book or cd, a financial product or service, such as insurance, or even a major purchase such as a family holiday – consumers still want to know that they are dealing with a brand that they trust.
“It’s particularly interesting that although 25-34 year olds are arguably the most tech savvy age group, they are amongst the most likely to look for a brand that exists offline when purchasing a financial service online.
“This indicated that the inexperienced financial services consumer takes reassurance from dealing with a brand that is familiar to them.
For information, or to purchase motor, home, travel or pet insurance and a full range of personal finance products visit www.directline.com.
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Emma Goold/Punch Communications
01273 648 378/07941 229 222
Emma Holyer/Direct Line Press Office
0845 878 2182 / 07734 433569
Notes to Editors
The research was carried out by Taylor Nelson Sofres, 3 – 5 October 2003 and 1002 adults were questioned.
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