International. A new report from digital identity firm Entrust shows strong support among consumers for the adoption of biometric solutions, but also widespread privacy concerns and questionable practices.
Published by the company on International Data Privacy Day, the results highlight consumer sentiment towards data privacy and security based on responses from 500 adults in the US and 500 in the UK who own a smartphone.
According to the report's findings, today's consumers are willing to trade their personal data for personalization, but they also have growing concerns about data privacy. In fact, 64% of consumers are at least somewhat willing to share personal information with an app in exchange for more relevant, personalized, and/or convenient services. And a large majority (83%) of consumers are at least somewhat comfortable with using or storing biometric data with apps and services. In addition, the majority of consumers (61%) also indicated that they are at least somewhat willing to share personal information with an app in exchange for greater transparency and control over their data.
However, while many consumers are willing to trade their personal information for some benefit, they are still concerned about the privacy of their data, and those concerns are rapidly increasing.
According to the findings, the majority of consumers (79%) are at least somewhat concerned about the privacy of their data, and 64% said their concern or awareness about data privacy has increased in the past 12 months. The majority of consumers (60%) attribute news about attacks and security breaches as their top concern, followed by a higher number of ads targeted based on their online behavior (48%).
They do not take the necessary protective measures
But growing concerns about data privacy don't mean consumers are taking the necessary steps to protect their personal information. In fact, while an overwhelming majority (82%) of consumers considered themselves at least somewhat proactive in maintaining the privacy of their data, 43% said they don't carefully review the terms and conditions before downloading a new app. Of consumers who don't read the terms and conditions, the majority (69%) cited the amount of time it takes to read them as the reason for not doing so, while 28% said they don't read the terms and conditions because they don't understand what they explain.
Big brands have work to do if they want to earn consumer trust
According to the research, consumers still don't trust big global brands to protect their data. In fact, only 21% of consumers trust established global brands to keep their personal information safe. This lack of trust could be the reason why nearly a third (31%) of consumers actively monitor news for potential violations of their information.
Generations have different perspectives on the protection of their data
When it comes to maintaining data privacy, 54% of Gen Z consumers said it takes too long to manage their data across apps and services, while 37% of Millennials don't believe they have much control over their data. Forty-two percent of Gen X consumers accept privacy terms and conditions as part of app use and 41% of Baby Boomers don't know where to start in terms of privacy.
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