According to the Most Trusted Brands 2022 report from Morning Consult, food and beverage is the most trusted industry among others as 7 in 10 American adults have confidence in these companies. Morning Consult found that the majority of consumers maintain long-term relationships with food and beverage brands, but are willing to switch if that trust is lost. The study revealed that more than one in three consumers have switched brands, specifically in this industry, due to an unfavourable experience. Consumers lose confidence in a brand due to numerous factors including an increase in price, a decline in product quality, or an association with a cause the brand disagrees with.
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