Over 80% of consumers are concerned about the use of their personal data and a whopping 95% feel it’s important that their data is protected when online, according to a new report by search and discovery tool Motive.co.
The top 5 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 (215).
Moreover, 52% say they don’t understand what they are agreeing to when clicking on consent banners online and 74% find the privacy policies themselves hard to understand.
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.
“It’s vital that all retailers, no matter their size, provide consumers with an online shopping experience that they can trust and enjoy,” Motive.co chief executive Jonathan Newman said.
“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.”