2 in 3 Consumers Consider It A Risk to Give Personal Information to Companies

April 2, 2020

YesMarketing Consumer Attitudes to Privacy Apr2020About 9 in 10 consumers are concerned about the privacy of their data, and 80% report they are more concerned about the privacy of their data than they used to be. Indeed, in a survey [download page] of more than 1,000 US adults, Yes Marketing found that 6 in 10 agreed that in today’s world, where seemingly everything is connected, privacy doesn’t or can’t exist.

There is some inconsistency or misunderstanding when it comes to people’s views of the lack of data privacy – and how their data is put to use by brands. Although fewer than one-fifth (17%) of respondents disagreed that in today’s connected world privacy doesn’t exist, 57% of all respondents are still alarmed when they see an advertisement for a product on social media after searching for it online.

Findings from a Pew Research Center survey show that the majority of Americans feel that their personal information is less secure than it was a few years ago. Nonetheless, expectations for data privacy reman high, with 83% of consumers agreeing that they expect companies they do business with to keep their data secure. And, while many brands say they have made respecting and securing personal data a priority, almost two-thirds (63%) of the consumers surveyed by Yes Marketing consider it a risk to give companies their personal information, such as their full name, email address and phone number.

Other Key Findings

  • While all generations trust Financial Services providers most with their personal data, older consumers (ages 55+) trust this industry far more than they trust Health Insurance Providers, Tech Companies, or Email Providers.
  • Although more than half (54%) of consumers report having used a voice assistant such as Alexa, Siri or Google, half (50%) of those surveyed by Yes Marketing say it’s not okay to trust these services with sensitive information.
  • Consumers appear to feel less secure when using their desktop computers, with 46% saying they are more careful using this device to share sensitive information than they are when using their mobile device or an app-based program.
  • More than half (56%) of consumers restrict their use of social media due to concerns about privacy.
  • Most consumers have “no clue” what CCPA or GDPR are when it relates to data security.

The full report can be downloaded here.

About the Data: Findings are based on a survey of 1,072 US adults fielded in September 2019.

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