A new study shows that while UK consumers cutting back on their non-essential spending, trust is a key driver for continuing retail growth.
Forter’s report found that UK consumers are willing to spend 44 per cent more on average with retailers they trust and coined the “Trust Premium.”
The report said that as economic conditions grow less favourable, investing in building customer trust and long-term loyalty is vital to help insulate retailers against market turbulence.
Forter CEO Michael Reitblat said the Trust Premium represents potentially millions of pounds in revenue uplift for retailers.
