Trust is at a tipping point: Consumers will react strongly if they feel their privacy is compromised
A new survey by Privitar shows that a growing number of people will lose trust and even avoid companies that mishandle their personal information. Half of respondents said that they would lose trust in a firm that used their data “inappropriately,” while about the same number of people (49%) indicated that they would boycott the online services of the firm in question. In addition, 42% of people would spread the word about the data misuse, while one in four (25%) would start trusting all businesses less.
The report also revealed a significant discrepancy between user and corporate attitudes toward the use of customer data, with 81% of people wanting more control over what data companies can collect and how they can use it, whereas 79% of organizations believe they offer consumers sufficient insight and control in this regard.