The overall tone is one of being taken advantage of, however, not all sectors are equal in this regard. Most enmity is reserved for the energy sector (electricity and gas), the rental sector, fuel (petrol and diesel) and the mortgage sector, where rising price is linked to greed.
70% of consumers believe that energy companies are increasing prices because they want to increase their prices. It does not help companies’ cases when significantly increased profits are published, contrasted against a very hard-pressed consumer.
Nor when there is a housing crisis. This is at a time when one in three consumers are extremely concerned about the cost-of-living situation in Ireland. It is easy to comprehend why these consumers are significantly more likely to feel worried (49%), anxious (50%), stressed (51%), frustrated (35%), or despair (16%).
This vulnerability could help support a ‘fact’ that some companies are greedy, taking advantage of consumers by increasing prices because they want to increase their profits.
Far less enmity is, however, reserved for, childcare and healthcare. Public Transport, in particular is a sector for which there is a relatively positive perception among consumers. One in three people see the sector price rises linked to profit, but the same proportion determine that Public Transport is trying to keep prices down.
Does it matter to brands if consumers link price rise to profit rise? Does it matter as long as consumers keep buying? Does it matter if there is a dearth of competition and thus consumer choice. If consumers doubt brands in their price intentions, when price rises are about profits, then a reasonable inference is draining trust in those brands.
This content was originally published here.
