Trust may be the most important dynamic between consumers and the companies they do business with—it affects decisions about where to shop, what to buy and even where to work. A PwC survey conducted in January and released on March 12 found that 90 percent of executives believe that customers highly trust their companies. But that same poll found that only 30 percent of customers feel that they highly trust companies—a 60-percentage-point “trust gap” that is 3 percentage points greater than the ones PwC found in 2022 and 2023.
Newsweek has partnered with Statista for the third time in a ranking that lists 700 U.S. companies based on trustworthiness. Public and private companies across 23 industries—including banking, insurance, media and clothing—were included based on an independent survey of about 25,000 Americans that took place in October and November 2023. A total of 97,000 company evaluations were submitted that considered the points of view of potential customers, investors and employees.
Additionally, internet media mentions of each company were analyzed, and companies involved in recent scandals or lawsuits related to trustworthiness were excluded from the ranking.
Bose, Goodyear, Procter &Gamble, UPS and Levi Strauss are some of the companies that led in their respective industries. Among those sectors surveyed, retail outlets, food and beverage companies and consumer goods manufacturers featured the most ranked companies. We hope this ranking helps consumers, investors and potential employees find companies that they will trust the most to engage with in their lives.
METHODOLOGY
For the third time, Newsweek, in collaboration with market research partner Statista, recognizes the Most Trustworthy Companies in America in 23 industries according to U.S. residents’ evaluations. The number of companies varies by industry. The ranking wants to provide guidance to consumers, investors and employees and to highlight the companies that are most trusted in the United States. Being aware that trust can be evaluated from different angles, Newsweek and Statista developed a methodology which takes several aspects into account.
The Most Trustworthy Companies have been chosen based on a holistic approach to evaluating trust. The three main public pillars of trust were considered: customer trust, investor trust and employee trust. The analysis followed a 3-step process:
1 _ Market Definition: All companies headquartered in the U.S. with a revenue over $500 million were considered in the study. Private companies were also eligible.
2 _ Extensive Survey: The basis of the analysis was an independent survey from a sample of about 25,000 U.S. residents, who rated companies they know in terms of all three touch points of trust. A total of 97,000 evaluations of companies were submitted. The field period ran from Monday,
