From websites to wearables, today's companies are collecting richer data on their users than ever before—and promising to deliver more convenient, personalized, and cost-effective experiences in return. But many consumers are skeptical, according to a survey by The Conference Board in collaboration with Nielsen.
In the survey of more than 30,000 consumers across 63 global markets, over 20% of respondents report having reduced or abandoned their use of a brand or company due to data privacy concerns. Moreover, 19% report having switched to or selected a competitor company for its better data policies.
"Overall, the results suggest a need—and opportunity—for companies to overcome consumers' skepticism and relieve their anxiety," said Denise Dahlhoff, Senior Researcher at The Conference Board. "Consumers' digital engagement has skyrocketed during the pandemic, making transparency about data practices more important than ever before."
From The Conference Board
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