KUALA LUMPUR, March 27 — The local media industry in Malaysia has seen a significant increase in trust among Malaysians in 2024 compared to the previous year, according to the latest survey findings by Ipsos Malaysia.
According to the survey, the media industry was the sole sector to see an increase in trust by four points among Malaysians.
The report, however, noted a significant shift in Malaysian consumer trust towards corporations.
“After three years of stability at 56 [points] between 2021 and 2023, overall trust has declined by seven points in 2024,” said Ipsos Malaysia interim country director Evelyn Tan.
Tan attributed the trust deficit to the continuation of boycotts impacting corporations.
Although she did not elaborate, in Malaysia, a pro-Palestine movement has driven consumer boycotts against companies perceived to have ties with or support Israel, significantly impacting global brands in the food and beverage industry.
“This decline is widespread, with airlines and Quick Service Restaurants (QSRs) experiencing particularly high trust deficits.
“However, there are bright spots. The media industry is a notable exception, showing increased trust levels,” she added in a statement.
Based on the survey, the airline and QSR industries showed the most significant decline at 17 points.
The device and e-commerce sectors showed more resilience, with a slower decline in trust amid a general downward trend across other essential services, including utilities, telecommunications and fast-moving consumer goods.
The automotive industry was also noteworthy, with Perodua, Proton and Honda ascending to the top five most trusted brands, indicating a shift in consumer confidence.
In 2024, Apple emerged as the most trusted entity among the 160+ brands covered in the Trust Track.
Following closely were local automotive brands Perodua and Proton.
TNB, which was the most trusted entity in 2023, now ties with Shopee and Honda at a trust index of 70.