Consumer concerns over online personal data collection and security appear to be rising faster than the cost of living, with eight in ten saying they are fearful about what firms collect and more than nine in ten saying it is crucial their information is protected when online.
A new report by search and discovery tool Motive reveals more than two-thirds (67%) of Brits have left a site due to concerns about how their data might be used. In addition, 83% said they had concerns about their data being tracked, captured and sold on to advertisers when accepting a website’s consent banner and privacy policy.
The top five places online where consumers felt their data was at most risk are: social media (72%), browsing the web (51%), instant messaging apps (39%), ecommerce websites (33%) and news sites (21%).
Moreover, more than half (52%) admit they do not understand what they are agreeing to when clicking on consent banners online and 74% find the privacy policies themselves hard to fathom.
The report claims this not only has an impact on the trust consumers place in brands to handle their data with care, but diminishes the customer experience when online. Almost 90% of consumers find consent banners annoying and 68% have left a website due to difficulty with navigating these banners.
Motive chief executive Jonathan Newman said: “It’s vital that all retailers, no matter their size, provide consumers with an online shopping experience that they can trust and enjoy What this study shows is the high value that consumers place on their personal data.
“We want to empower retailers to not only provide enhanced online shopping experiences that can compete with big brands, but to also create and cultivate consumer trust and loyalty through a non-intrusive and privacy-first approach.”
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