UK consumers are still willing to trust large corporations with personal information despite a number of large-scale data breaches, as long as they receive benefits in return. According to a new survey by data privacy firm Janrain, 52 per cent of people are willing to allow a company to use some of their data if they gain something as a result.
“Our survey is incredibly good news for brands that take the personal data privacy and security of their customers seriously,” said Jim Kaskade, CEO of Janrain. “Despite high-profile missteps and outright failures in the way brands have approached data privacy and security, consumers are very open to a consent-driven relationship with brands, which will go a long way toward solidifying trust for stronger, longer-term relationships.”
The survey of 1,000 UK consumers found that big internet companies like Google and Facebook are among the least trusted businesses, with more traditional brands like pharmaceutical firms and travel companies trusted more, despite recent stories like the cyberattack on British Airways that affected 380,000 customers.
Only 18 per cent of consumers noted that they would be likely to walk away from a business that required them to provide highly personal data like an email or phone number, while financial data and account passwords understandably ranked highest among the data points that consumers feel the need to protect. In contrast, only 25 per cent of consumers said they felt the need to keep their personal viewing habits private.