A Privitar survey has found that 78 percent of consumers said they are concerned or very concerned when it comes to personal data protection and more than 50 percent of respondents said they are still wary when it comes to sharing personal data.
Privitar said Wednesday it commissioned Dynata to survey 1,000 consumers in the U.S. for the 2020 Consumer Trust and Data Privacy Report and found that 31 percent of respondents said the brand's commitment to data protection matters most when it comes to brand loyalty, while 40 percent said they consider the brand's trustworthiness as the most important.
“The global COVID-19 pandemic has underscored the importance of the trust relationship companies and governments need to build with consumers in an increasingly digital world,“ said Jason du Preez, CEO and co-founder of Privitar.
The survey also showed that 24 percent of respondents said they have ceased business engagements with a company following a data breach.
“The results of the survey affirm the growing need for brands to focus on building and maintaining this trust, starting first and foremost with protecting customer data. As more businesses utilize the cloud to enable data driven insights, a firm commitment to data privacy will help to ensure long-term loyalty, consumer satisfaction and shareholder value,“ du Preez noted.