The vast majority (80 percent) of consumers aged 20-40 in the US and the UK believe total privacy in the digital world is a thing of the past, and nearly half (49 percent) said they would not object to having their buying behavior tracked if it would result in relevant offers from brands and suppliers, a new study by Accenture shows.
Privacy concerns aside, the survey of 2,012 consumers conducted in March and April 2014 indicates that they continue to embrace digital technology in pursuit of a good deal. In fact, nearly two-thirds of the respondents – 64 percent – said that when they are physically in a store, they would welcome text messages from that retailer alerting them to offers matching their buying preferences.
However, it’s clear from the survey results that consumers continue to be cautious about the use of their personal information.
According to the survey:
The majority of respondents -- 87 percent -- believe adequate safeguards are not in place to protect their personal information.
Sixty-four percent – compared to 85% from the 2012 survey - are concerned about websites tracking their buying behavior.
More than half (56 percent) say they are trying to safeguard their privacy by inputting their credit card information each time they make an online purchase rather than having that data stored for future use.
Seventy percent of respondents believe businesses aren’t transparent about how their information is being used, and 68 percent say there is not enough transparency around what is being done with their information.
A large number of respondents – 40 percent – believe only 10 percent of their personal data is actually private.
- Although 42 percent believe vendors and suppliers are using their personal data in order to provide them with more relevant offers, 39 percent believe their data is being sold.