U.S. Consumers Rate Calvin Klein, Louis Vuitton, and Banana Republic Most Data Trustworthy Fashion Brands
Calvin Klein, an iconic American brand that has existed since 1968, has been rated the fashion brand that American consumers trust most to share their personal data. The innovative, new Data Trust Index (DTI), by Luxury Institute and DataLucent, measures the level of trust that digital consumers have in licensing their digital platform data (Google, Facebook, Instagram, etc.) and other personal data, to mass, premium and luxury brands in exchange for rewards and benefits. French luxury market leader Louis Vuitton was ranked a very strong second. Banana Republic, founded in 1978, was ranked third in a field of 24 well-known fashion brands. Overall, six luxury brands were ranked in the top ten, indicating an opportunity for luxury and premium fashion brands to lead in going direct to their customers to build mutually loyal first-party data relationships with the most descriptive and predictive data.
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The DTI U.S. survey, the first of its kind, is based on a nationally representative sample of 1,008 consumers ages 18-49, with a minimum income of $75k (total sample average income of $200k), with 54% male and 48% female participation. Responders reported that YouTube (82%), Google (79%), Facebook (78%), Amazon (76%) and Instagram (75%) were the digital platforms used on a regular basis. On the most critical core question of the survey: 83% of all responders, including 89% male and 78% female, are willing to license their digital platform data, under their control, to brands they trust to use to serve their needs, and the needs of other consumers, in a personalized way.
The survey asked consumers to rate 24 fashion brands across mass, premium and luxury segments. Consumers indicated which of the brands presented on a randomized list they would trust most to license their data for rewards and benefits of value to them. For convenience, here is the brand list in alphabetical order: 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.
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Luxury Institute and DataLucent will publish the top three brands in each category, as rated by consumers, yet does not make public their exact DTI scores, or the scores of the other brands rated. The DTI’s purpose is to inspire brands to earn more customer trust such that they can access the most descriptive and predictive data legally and ethically, directly from their valued customers and prospects, for fair value. The survey’s objective is to help brands to develop deeper, richer, mutually loyal first-party data relationships with customers and prospects. Rated brands can purchase their DTI data, and a benchmark vs. category competitors, as well as their data trust opportunity gap (DTOG). The data trust opportunity gap is a measure of their DTI score vs the 83% of consumers in the current survey who are willing to license their data. Upon request, can run a proprietary custom survey with their own customer base, across all customer segments, to determine customer data trust opportunity gaps. In the custom survey, consumers will be asked to share the key reasons why they rated the brand as they did. Please contact ksousa@luxuryinstitute.com for more information.
“In the popular fashion category, it is mostly luxury brands that are trusted by consumers with their data,” said Milton Pedraza, Luxury Institute CEO and DataLucent Chairman. “Imagine what creativity in product, content, and marketing innovations can be achieved by combining the talents of brand creative directors and design teams with the rich, highly descriptive and predictive social media data that is the heartbeat of the Cultural Jetstream.”
