Despite multiple data breaches and privacy-related stories hitting the headlines over the last half a decade, consumers in the UK are less concerned about their data than ever. That’s according to long-ranging research from the DMA and Acxiom.
The study of 1,047 UK respondents found that 61% of consumers say that they are already happy with the amount of personal information they share with brands with the biggest change in 55-64 year-olds from 47% in 2012 to 67% in 2017.
- Trust remains the most important factor when sharing personal information (54%).
- Other factors included: obtaining discounts (32%) getting free products and services (31%) and brand loyalty (25%).
- For brands that want to build trust with their customers, transparency is the most important consideration with 88% of respondents citing it as their main concern.
GDPR establishes a level of transparency and honesty about how data is collected and used, which will be essential to continuing to build and maintain trust between businesses and consumers. This trust is central to data exchange and showing the value to both the business looking to prosper, and the customer looking to benefit.