Consumer trust has been something of a hot topic in this digital age. Today, consumers are more aware and more sceptical. Product recalls, questionable claims and shady business practices have created a growing community of suspicious and conscientious shoppers. The necessity for brands to be transparent has never been higher.
In 2017, The Malaysian Communications and Multimedia Commission prosecuted over 3,700 fake social media accounts. Further, according to the regulatory body, 86% of internet users in Malaysia took various measures to ensure their personal information online stayed private.
In light of these consumer sentiments, more and more organisations in Malaysia are addressing these concerns through their own initiatives. Here, we uncover some of the official bodies and businesses in Malaysia that have placed priorities on consumers’ best interests, gaining their trust and loyalty.
Authenticating App: The Malaysian Communications and Multimedia Commission
Fake news became a priority in Malaysia in the lead up to the 2018 presidential election. Regulatory body Malaysian Communications and Multimedia Commision has recently launched a smartphone app that aims to tackle the rise of fake news. The Sebenarnya.my portal is available through a smartphone app and social media channels such as Facebook and YouTube, offering a place for Malaysians to check and report suspicious news stories. The government hopes the service will educate the public to be more literate about facts, more proficient in analysing news and more vigilant when spreading unverified news.
As consumers become more sceptical of what’s presented to them online, tech brands and publishers that can offer greater credibility will be valued over the coming years. However, the impact of fake news extends far beyond news itself, with consumers—who are exposed to so much inauthenticity—increasingly demanding proof in all areas of their lives. This suggests that brands need to be more open and transparent in their advertising campaigns going forward, with those considered authentic likely to gain loyalty in a world where trust is difficult to earn.
Honest About Quality: honestbee
Source: www.facebook.com/honestbee
Delivery app honestbee launched a pop-up shop in Kuala Lumpur over the Christmas and New Year period last year. To make purchases, store customers had to use their own mobile app or one of the tablets located in the store to place their orders. The concept of the pop-up was to give consumers a first-hand experience of the brand’s concierge shoppers, allowing them to witness how shoppers select ingredients or products with a level of expertise.
A significant number of consumers in Malaysia are making purchases via e-commerce platforms. According to We Are Social’s ‘Digital in 2017’ report, 52% of respondents in Malaysia said that they had purchased a product or service online. As the e-commerce trend continues to grow, issues relating to the transparency and authenticity of such platforms will need to be addressed. Consumers who are currently resistant to making the switch to e-commerce platforms may very well be hesitant due to a lack of knowledge about how brands are handling products and this is exacerbated by the impersonal nature of online platforms.
Mintel Big Conversation Kuala Lumpur
Many consumers around the world lack trust in regulatory systems, manufacturers and even their fellow humans. In this new post-truth reality, brands that are building a foundation of trust through friendship and pursuing a progressive agenda will be the winners of this race.
Join Mintel’s expert analysts at the upcoming Big Conversation event in Kuala Lumpur where we will discuss how consumers perceive trust across industries and share insights into how brands can win the trust of today’s hyper-aware consumer. Register today.
