UK shoppers are open to sharing personal data with brands, as long as they see the value, a new study suggests.
Most shoppers (77%) are concerned about the way their data is being gathered and used by the brands they engage with, found privacy solution provider Ketch when it questioned 2,750 UK adults via Magna for its The Person Behind the Data report. More than half (58%) said not knowing where data was going or how it is used was a concern, and 75% said they did not have full control.
However, 81% of shoppers have seen the benefit in sharing data with companies. The benefits they found included receiving a benefit from the company (42%), having a personalised experience (40%) and learning about new products (37%). Most (89%) say that when data sharing is done right, they see a positive impact on their relationship with a company, and 53% say they trust the company more.
In return for these benefits, shoppers are more willing to share their past purchases, demographic information and entertainment habits in exchange for free samples or discounts. But they are least willing to share personal financial information, and content from emails and other platforms.
“Consumers are open to sharing their data, provided it is handled responsibly,” says Russell Howe, vice president, EMEA at Ketch. “More importantly, giving consumers transparency and control over their data only strengthens the relationship with brands. For too long, we have ignored the consumer perspective on data, and focused on regulatory compliance only. By understanding how consumers view privacy means brands can make better decisions going forward. Trust and transparency – that’s what really matters here. A blanket approach where consumers don’t have any knowledge or control over how data is used is wrong.”