April 27, 2017 -
Gigya has published a new study entitled “2017 State of Consumer Privacy and Trust survey”, revealing that many people have poor password habits with 42 percent of consumers admit to using four or fewer passwords across online accounts.
The research shows how consumer trust and a business’s reputation remain uncertain as brands delay adoption of stronger authentication methods to protect online consumer identities.
The survey found that 68 percent of consumers are concerned about how brands use their personal data, while 69 percent worry about security and privacy risks inherent in the increasing adoption of Internet of Things (IoT) devices.
For brands, the survey results highlight the balance between customer expectations and new privacy requirements with their need for customer data to deliver a more personalized online experience.
This dilemma will come into play with the impending implementation of the EU’s General Data Protection Regulation (GDPR) in May 2018, as brands will face new challenges in presenting and protecting their European consumers’ data.
For the survey, Gigya polled more than 4,000 U.S. and U.K. adults relating to concerns about brands’ approach to data privacy.
The findings show that the issue affects all generations, with 60 percent of 18- to 24-year-olds registering concern, compared to 73 percent of those aged 65 and older.
The pattern was similar when participants were asked their opinion about data security on IoT devices, with 62 percent of 18- to 24-year-olds registered concern, and 72 percent of the 65-and-older group.
In addition, 63 percent of consumers said they feel personally accountable for protecting their data versus. relying on brands or governments, while 31 percent of respondents said brand privacy policies are weaker now than they were 12 months ago.
Meanwhile, people continue to practice poor password habits, with 42 percent of consumers using four or fewer passwords across online accounts.
This emphasizes the importance for brands to find new authentication methods to protect their customers from their own poor habits.
The survey results show that of the total respondents with Facebook accounts, 61 percent have taken control of their privacy settings on Facebook.
Forty percent of respondents have changed their settings within the past year, 21 percent have changed them at some point more than 12 months ago, and an additional 23 percent are aware they can make changes to their privacy settings while relying on Facebook’s default settings.
“There is looming disconnect for brands if they don’t respond more aggressively to consumer demand for privacy and protection of their data,” said Jason Rose, senior vice president of marketing at Gigya. “Brands that put consumers in control of their privacy and deploy platforms that strengthen consumer data security will ultimately gain consumer trust. These brands will overcome the personalization-privacy disconnect and deliver on the full promise of their online strategies.”