Collect This Type of Data And You’ll Upset A Majority of Consumers

May 9, 2017

This article is included in these additional categories:

Customer-Centric | Digital | Financial Services | Personalization | Privacy & Security

Nearly two-thirds of consumers in the US and UK say they would be upset to know that marketers had their salary information, according to a BlueVenn report [download page]. A majority of respondents would likewise be upset if marketers were privy to their credit rating (58%), private social media data (56%), smart home data (56%) and internet browsing history (52%), according to the report’s findings. That last one – internet browsing history – is coming under increasing scrutiny after legislation passed in the US recently allowing the sale of this information by ISPs. (Notably, a recent survey found that US consumers trust their ISPs more than search engines and social networks. That may change…)

Meanwhile, separate results from the BlueVenn survey indicate that consumers trust banks the most with their private marketing data. This is just the latest piece of research to demonstrate that financial institutions are more trusted with data than others.

Still, there appears to be a great deal of ambiguity, even among consumers, about where the lines for online privacy should be drawn. While 96% of respondents from this report value their individual privacy online, 61% would give up some privacy in exchange for better products and services. This comes at the same time as a study showing that only about half of American adults trust the internet – and that most consumers worldwide have rising fears about their online privacy.

Consumers feel equally ambivalent about personalized ads. Even though 4 out of 5 hate ads and emails that are not relevant to them, 70% say that they find advertising that is customized to their tastes “creepy”.

As far as “creepy” practices, certain in-store retail personalization ones, such as facial recognition, are considered notably more disturbing than others, as this separate study illustrates.

About the Data: This report is based on a survey of 2,116 US and UK consumers.

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