Shoppers will share their information – providing it’s a win-win
By our News Team | 2022
UK study finds consumers have privacy concerns, but most will share personal data if they can reap the rewards.
Shoppers in Britain are not unhappy with the idea of sharing personal data with brands – providing it is a win-win that also creates value for them.
This is according to a recent study entitled The Person Behind the Data carried out by Ketch, a privacy solution provider. In all, 2,750 UK adults were questioned for the report.
Photo by Fauxels from Pexels
The researchers found that most shoppers (77%) are concerned about the way their data is being gathered and used by the brands they engage with.
However, 81% of respondents said they had also experienced the positives of sharing their data. These included receiving a benefit from the company in question (42%), having a personalised experience (40%) and learning about new products (37%).
Almost all shoppers (89%) say that when data sharing is done right, they see a positive impact on their relationship with a company, and 53% say they even trust the company more.
In return for benefits, consumers are quite willing to share details of their past purchases, demographic information, and entertainment habits in exchange for free samples or discounts. But they are less willing to share personal financial information and content from emails and other platforms.
Consumers will share if brands are responsible
“Consumers are open to sharing their data, provided it is handled responsibly,” said Russell Howe, Vice President for EMEA at Ketch.
“More importantly, giving consumers transparency and control over their data only strengthens the relationship with brands.
“For too long, we have ignored the consumer perspective on data, and focused on regulatory compliance only. By understanding how consumers view privacy, brands can make better decisions going forward. Trust and transparency – that’s what really matters here.”
He added: “A blanket approach, where consumers don’t have any knowledge or control over how data is used, is wrong.”
Ketch defines responsible data practices as:
- Data minimisation: Collect only an essential amount of data, relative to the purpose.
- Retention period: Store data for a specific business purpose then delete it within a reasonable timeframe.
- Full transparency on how and why data is being collected, how it’s shared and why, how it’s being retained, and how people can control their data.
- Eliminate data sharing with other companies unless permission has already been given