As Socially Aware readers know, privacy presents real business risks that have the potential to negatively impact a company’s bottom line, from the legal fees associated with a data breach to revenue declines stemming from a loss of consumer trust.
Late last year, Socially Aware contributor Andrew Serwin conducted an online survey of more than 900 consumers from across the United States to gauge attitudes and concerns about various privacy issues.
Andrew’s summary of the survey results can be found here. The summary makes for interesting reading. Some of the findings include:
- Privacy concerns influence consumer purchasing decisions. In fact, in the last 12 months, nearly one in three U.S. consumers (35%) made a decision about what company to purchase products or services from based on privacy concerns.
- High-earning, well-educated consumers are more likely than other consumers to stop buying from a business because of a data breach
- Identity theft is the single biggest privacy concern among consumers.