Why are Consumers So Willing to Give Up Their Personal Data?

Data privacy is a hot-button topic. Most people can agree that it’s important to keep personal data private, but are you really doing much to keep your data safe?

Consumers are fervent in their fight to protect their data, but they do little to maintain it safe. It’s known as the privacy paradox, and it may be hurting consumer efforts in order to keep their information out of third-party hands.

What makes consumers so willing to give up their personal data?

Data in Exchange for Something Valuable

According to recent research, most (75%) of internet users don’t mind sharing personal information with companies – as long as they get something valuable in return.

A recent Harris Poll also found that 71% of adults surveyed in the U. S. would be willing to share more personal data with lenders if it meant receiving a fairer loan decision. Lenders typically ask for information about the applicant’s personal financial history, but the particular poll suggests that borrowers may be prepared to give up even more information.

Research suggests that consumers are well aware of and understand that data exchange is a sensitive matter, and they’re willing to be participants in the “game. ” But they want the particular game to be fair. In other words,…

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Scottie Todd

Scottie Todd

Digital Marketing Lead

“Level 4 marketing wizard on a quest for
data insights one blog post at a time.”

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