Hardware Retailing The Industry's Source for Insights and Information
Newsweek, in collaboration with market research partner Statista, has released its second annual listing of the Most Trustworthy Companies in the U.S. The list covers 23 industries and includes 700 companies, ranked by evaluations from U.S. customers, employees and investors. This year, three independent home improvement retailers made the top 50 for retail: Ace Hardware came in at No. 6, True Value was No. 20 and Do it Best landed at No. 50.
To compile the list, Newsweek and Statista looked at 3,100 U.S.-based companies, including 1,800 publicly held companies and 1,300 privately held ones, that had revenues over $500 million. The rankings were based on the results of an independent survey from a sample of about 25,000 people in the U.S. who were asked how much they agreed with statements like “I trust in this company to treat me fairly as its customer,” “I believe this company offers good opportunities for career development” and “I believe this company would be a good long-term investment.”
Being perceived as trustworthy helps a retailer build a strong customer base and increase customer loyalty. To read about other ways to increase customer loyalty, click here and here.
