Six C-store Chains Rank Among Most Trusted Companies
QuikTrip, Wawa and Sheetz take spots in the top 10 in the grocery/convenience store category.
NEW YORK — Convenience stores aren't just among the best retailers at meeting consumers' daily needs; some of them are also the most trusted companies around.
Six c-store operators appeared in Newsweek's second-annual Most Trustworthy Companies in America 2023 ranking, based on the results of an independent survey of customers, employees and investors.
Three standout c-store chains ranked in the top 10 in the grocery/convenience store category: QuikTrip Corp. (No. 5), Wawa Inc. (No. 7) and Sheetz Inc. (No. 8). Also receiving significant consumer trust were 7-Eleven Inc. (No. 27), Casey's General Stores Inc. (No. 30) and Kum & Go LC (No. 32).
The retail category had the largest number of winners on the list at 61 companies, followed by 46 for energy and utilities, and 45 in food and beverage.
Newsweek collaborated with market research partner Statista to compile the list of 700 U.S. companies in 23 industries. Together, they examined a pool of 3,100 companies — 1,800 that are publicly held and 1,300 that are privately held — with revenues of more than $500 million. Rankings were based on the independent survey from a sample of approximately 25,000 people. Participants were asked how much they agreed with statements such as, "I trust in this company to treat me fairly as its customer," "I believe this company offers good opportunities for career development," and "I believe this company would be a good long-term investment."
"In any good relationship, the one essential ingredient is trust. It's hard to build, easy to lose and sometimes you think you have more of it than you really do," stated Newsweek Global Editor-in-Chief Nancy Cooper.
According to a 2022 survey by consulting firm PwC, 87 percent of business executives believe consumers have a high level of trust in their companies, while just 30 percent of customers actually expressed trust in them. Additionally, 84 percent of executives reported thinking their employees have a lot of trust in their businesses while 69 percent of employees actually do have that level of trust.
The full list of the 700 most trusted companies is available here.