July 16: Consumers care about data privacy
Younger and more affluent people—a segment of the population especially attractive to companies—are more willing to switch companies over data-sharing policies.
Source: Harvard Business Review
Published: January 2020
Consumers care about data privacy
Data privacy is a growing consumer concern. A 2019 survey of 2,601 adults worldwide revealed that 32% of respondents said they care about privacy, are willing to act, and have done so by switching companies or providers over data or data-sharing policies.
The researchers labeled this group privacy actives, most of whom tend to be younger, more affluent, and shop more online—a segment of the population that is especially attractive to most companies. Privacy actives are more than twice as likely (27% vs 11%) to view themselves as early tech adopters, and they are more frequent users of social media.