Consumers expect businesses to be more transparent on how their data is used

A global study of consumers reveals 48% are suspicious about how companies use their data. Based on a poll of more than 18,000 consumers across nine countries, the research conducted by Ovum and Opinium finds that one in five consumers don’t trust any businesses to keep their information safe.

This indicates that brands have some way to go to build consumer trust.

The findings also reveal considerable variation in levels of consumer skepticism over the use of their personal data by brands.

Given the wide range of views held by consumers, the study shows that companies need to ensure they tailor their engagements with customers regarding data assurance—particularly in more skeptical markets, such as the UK and Germany.

Long track ahead

This global study points to a long road ahead with a large proportion of consumers yet to be convinced that their main service providers have their data protection in check.

The research also finds that fewer than half of consumers (43%) trust their bank to keep their data safe, the highest of all the sectors covered by the survey. However, trust significantly declines to just two percent for online and in-store retailers and three percent for utilities companies.