Helpful or creepy?
New Worldpay and Socratic data reveals consumers’ thoughts on privacy
Consumers aren’t naïve about the fact that companies collect data about them, but there’s clearly a give-and-take when it comes to what they get in exchange for what they give up. Worldpay and Socratic Technologies conducted a survey to find out just how comfortable consumers are with sharing their personal information. Read on for the highlights.
Men will share more than women
In general, consumers don’t mind sharing basic information such as email addresses and birthdays. However, when it comes to more sensitive details, men are more open to the idea than women. Men also tend to own more personal technology devices, which use private information for designated activities.
According to the survey, one in four men will share contacts, while only one in eight women are willing to part with this type of information. And, 30 percent of men will share photos, versus 18 percent of women. Social Security Numbers are where the majority of consumers—regardless of gender—draw the line. Less than 20 percent of men and only 3 percent of women will reveal their SSNs.
Incentives motivate consumer sharing
The survey results suggest that businesses may be able to persuade their customers to share more information by offering something in return. More than half (52 percent) of consumers will share sensitive data in exchange for free shipping, and 59 percent will share in order to receive a $5 Amazon gift card.
Cross-promotions aren’t always welcome
Although some consumers are comfortable sharing their personal data, they want to know who’s getting the information. The majority of consumers (64 percent) appreciate instant discounts when shopping in-store, yet 25 percent are uncomfortable with receiving discounts while in the vicinity of select retailers or restaurants. Furthermore, 33 percent of consumers think it’s creepy when one site or application shares their information with another.
For consumers, it’s a fine line between receiving personalized offers and giving their sensitive information away to get those offers. If you are interested in the survey’s additional findings, you can request the complete results and download the survey tabs here.