Staying on the right side of consumer privacy.
The digital economy has allowed organizations to collect more information about their customers than ever before. Consumers benefit from this closeness by receiving an easier, better, and more customized experience.
But while consumers understand their data is being collected and the organizations they deal with on a daily basis are potentially using it in a number of unknown ways, indiscriminate personal data collection risks alienating consumers and 'creeping them out'.
KPMG asked almost 7,000 consumers in 24 countries a series of questions to understand in what circumstances they felt comfortable or uneasy about the use of their personal data – to understand what is considered ‘crossing the line’.
Understanding consumers’ sensitivities around the use of their personal data is central to establishing and maintaining trust between consumer and company:
Understanding consumers’ sensitivities around the use of their personal data is central to establishing and maintaining trust between consumer and company.
For companies seeking to use consumer data to personalize their marketing and services to the individual, build brand loyalty and develop better products, it is important they understand that although opinions on privacy vary around the globe, it is clear that, more than anything, consumers value privacy over convenience.
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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
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