Trust in Singapore companies dips sharply as consumers demand stricter data protection and effortless experiences Singapore News

pSINGAPORE The recent report from Salesforce published by the Singapore Business Review reveals a significant decline in consumer trust in Singapore companies over the past yearppNearly 74 of individuals have expressed less confidence in these firms compared to a year agoppThe primary driver of this scepticism appears to be concerns over how organizations manage sensitive customer information According to the Salesforce survey 61 of consumers believe companies are acting recklessly with their data eroding trust and highlighting the need for stronger data protection practicesppBeyond issues of trust the survey also found that 75 of Singapore consumers want smoother more seamless interactions with companies across all departmentsppThe growing preference for fewer touchpoints in the customer journey is evident with 71 of respondents indicating they prefer fewer steps to complete their tasksppThis desire for simplicity and efficiency extends beyond trust concerns underscoring the need for businesses to streamline their processes to meet customer expectationsppIn addition the report highlights the crucial role of customer service in shaping consumer loyalty Over half of respondents 54 say that poor customer service would prevent them from making repeat purchases while 48 are deterred by inconveniences such as complicated purchase or return processesppThese findings point to a broader shift in consumer behaviour customer satisfaction is not just about a good product but also about the ease and quality of the service providedppInterestingly the report also reveals a growing acceptance of artificial intelligence AI as a solution to these challenges Younger generations particularly millennials and Gen Z are more open to using AI for personalized contentppOver half of millennials 53 and nearly half of Gen Zers 47 are willing to engage with AIdriven agents compared to just 36 of baby boomers This shift reflects the increasing comfort of younger consumers with technology and their desire for tailored efficient experiencesppMillennials in particular appear to have higher expectations with 37 indicating that AI can significantly raise customer experience standardsppThis finding points to an opportunity for businesses to leverage AI to address customer service pain points and improve overall satisfactionppAs younger consumers drive the demand for personalized seamless service organizations may need to invest more in AIpowered tools to stay competitive and meet evolving expectationsppAs companies in Singapore navigate these challenges the demand for transparency efficiency and innovation in customer service is clearppWhether through better data protection or the integration of AI into the customer experience businesses must act swiftly to regain consumer trust and meet the heightened expectations of todays consumerspppp Copyright 2023 The Independent Singapore All Rights Reserved p