The most trusted businesses in South Africa
Airlines and the hospitality industry are the most trusted by South African consumers, while utilities and social media are the least trusted.
This is according to PwC’s inaugural Voice of the Consumer Survey 2024 which builds on insights amassed over 15 years of consumer research by collecting the perspectives of more than 20,000 consumers across 31 countries and territories.
“Trust is crucial for consumers and for the companies that sell products and services to them: as shoppers confront a set of overlapping and often mutually reinforcing disruptions—financial, ecological and technological—they are prioritising reassurance and reliability from the brands they engage with,” said PwC.
Looking specifically at results from South Africa, local consumers have the highest trust in airlines with a score of 7.20 out of 10.
“This is quite understandable: in South Africa, airlines are perceived as operationally reliable, offering value for money, having strong safety records and providing a high level of service quality,” said PwC.
Having that said, The Citizen recently reported that a failure to update regulatory procedures, systems being taken offline and lack of trained and experienced staff in the air traffic management sector have put South Africa at risk of being noncompliant with international air safety regulations.
Aviation experts said that this could lead to some countries banning flights into and out of the country.
Companies in the hospitality and leisure industry were placed in a very close second position with a score of 7.19.
PwC said that feedback indicated that the quality of service provided by local enterprises in the hospitality industry is often associated with the high standards expected by international tourists.
“The national grading criteria for accommodation, for example, is aligned to international best practice, ensuring that the stars given to local hospitality establishments are comparable to those in other economies,” said the group.
At the opposite end of the trust spectrum, energy and utilities (including electricity and water) companies received the lowest trustworthiness score at 5.78 out of 10.
“This is not surprising: South Africa’s challenges in recent years with electricity loadshedding and reliability of municipal water supply is well known,” said PwC.
Social media follows closely behind with a trust score of 5.87 out of 10, as users worldwide face rising problems with misinformation and disinformation on these platforms.
What influences consumer trust in companies most?
The survey asked South Africans what factors most influence their trust in companies.
The protection of customer data was the top feature, with a combined 92% of consumers indicating that this is very or extremely important to them.
PwC’s Global Digital Trust Insights Survey 2024 highlights that South African companies are particularly worried about the loss of customer data as a major consequence of potential cyberattacks.
According to Ahmed Chohan, PwC Africa Digital Trust Leader, data is changing the competitive landscape for companies in South Africa.
“The volume of data now available to them means they can find efficiencies, develop and target new products, gain customer insights, optimise operations and tailor business strategies in ways they never could before—all with a speed they never thought possible,” said Chohan.
“However, collecting and utilising data also brings risk that it could be misused or accessed by threat actors and as such, South Africans require the utmost trust from companies when handling personal information,” he added.
PwC said that South African companies must implement effective data protection processes to build consumer trust.
The gup’s South African Telecommunications Sentiment Index 2023 suggests that telecoms should leverage their strong environmental, social, and governance (ESG) and social impact efforts, using impact assessments to enhance their reputation and foster customer loyalty.
The second-biggest influence of customers’ trust in companies is that of clear communication, with 59% viewing it as “extremely important” and 33% viewing it as “very important.”
This is followed by consistent customer experience, with 90% viewing it as either extremely or very important.
Loading ...
