According to a recent survey, consumers believe that privacy no longer exists in this hyperconnected world.
A data-driven marketing firm, InfoGroup, recently surveyed 1,000 consumers to understand their perspective on privacy better.
The report reveals what different generations think about online privacy. It also provides an insight into the strategies that companies are using to build consumer trust.
Here’s the take away from the report: Privacy Matters: How Different Generations Think About Their Data.
Concerns About Privacy is Rising
The report revealed that more consumers are concerned about privacy than ever before.
Roughly 88 percent of the respondents are concerned about the privacy of their data. Also, 80 percent of consumers are much more concerned today than they were in the past.
Generational Attitudes Based on Company’s Sector
Findings from the study suggest that the younger generation tends to trust newer industries to secure their data. These include email providers, as well as other tech companies.
Older generations, on the other hand, believe that the healthcare and financial sectors are the most trustworthy.
Also, the older generations are not as comfortable with newer technology, compared with the younger ones. However, they are not entirely opposed to the idea.
It’s a Risk to Give up Personal Data
Many of the respondents believe that it’s risky to give credit card information and other personal information to businesses.
About 65 percent of the participants strongly agree or agree that it’s a risk to give pieces of information like email and phone numbers to organizations.
Privacy no Longer Exist
The report suggests that 60 percent of consumers believe privacy no longer exists in this hyperconnected world.
Meanwhile, about 57 percent say they get alarmed social media ads show a product that they had searched for online. In other words, consumers don’t understand how marketers use their data to improve targeting and ad relevance.
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