A recent finding by the new Data Trust Index (DTI) has shown that customers see Calvin Klein, Louis Vuitton and Banana Republic as the most data trustworthy brands.
With Calvin Klein coming in top place, the DTI aimed to measure the level of trust consumers had with a digital platform in regards to their personal data. Louis Vuitton came second, and Banana Republic was revealed to be third.
The DTI survey was based on 1,008 respondents, aged between 18-49. A main question of the survey was whether as consumers they would license their digital platform data to brands they trusted, to which 83 percent said yes.
The DTI survey, created by luxury research company Luxury Institute, and data information platform DataLucent, asked consumers to rate 24 fashion brands across three categories, mass, premium and luxury.
Presented in a random order, the brands included were: Anne Taylor, Balenciaga, Banana Republic, Burberry, Calvin Klein, Chanel, Coach, Dior, Dolce & Gabbana, Ferragamo, Gap, Giorgio Armani, Gucci, Hermès, Kate Spade, Louis Vuitton, Lululemon, Marc Jacobs, Michael Kors, Prada, Ralph Lauren, Saint Laurent, Tory Burch, and Versace.
“In the popular fashion category, it is mostly luxury fashion brands that are trusted by consumers with their data,” said Luxury Institute CEO and DataLucent chairman Milton Pedraza.
Six out of the top ten brands rated as being the most trustworthy with data were luxury brands.
All respondents had a minimum income of 75,000 dollars, and were made up of 54 percent men and 48 percent female.
While the DTI publishes the top three brands in each category, it will not make the exact scores of each brand public. It says that its goal is to “inspire brands to earn more customer trust such that they can access the most descriptive and predictive data legally.”
Recently, Neiman Marcus notified 4.6 consumers that there had been a massive online breach of its website, which occured in May 2020 and had only just been discovered. Payment data, passwords and usernames were leaked, with the brand assuring its customers that it was working to fix the issue.