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MONDAY, December 04, 2023

We still fret about sharing data: survey

We still fret about sharing data: survey
MONDAY, December 03, 2018

Consumers are embracing new technology, but they’re also anxious about the risks of sharing their personal information with businesses online, a study by KPMG International reveals. 

The firm surveyed 25,000 people in Britain, the United States, the United Arab Emirates, France, Brazil, Canada, China and India.
Published in the “Me, My Life, My Wallet” report, the results indicate that almost half of consumers (47 per cent) are more anxious than they were last year about technology. 
Despite this, three-quarters are still willing to share their data.
One-quarter refuse to share their data, but millennials are far more likely (21 per cent) to do so than baby-boomers (5 per cent) in exchange for better a customer experience and personalisation. 
One-fifth (19 per cent) of millennials will trade their data for better products and services, versus just 8 per cent of baby-boomers. 
The study shows that younger consumers are concerned about identify fraud, but more likely to see the benefits of sharing data.
Half of consumers are anxious about identity theft, and the majority (72 per cent) don’t trust anyone with their social media data. 
In fact, additional research indicates that 42 per cent of consumers have updated their social media privacy settings in the last 12 months.