KPMG’s survey of almost 7,000 consumers in 24 countries regarding in what circumstances they felt comfortable or uneasy about their personal data use
The digital economy has allowed organisations to collect more information about their customers than ever before. Consumers benefit from this closeness by receiving an easier, better and more customised experience.
But while consumers understand their data is being collected and the organisations 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 discover where the so-called ‘creepy line’ lay.
Understanding consumers’ sensitivities around the use of their personal data is central to establishing and maintaining trust between consumer and company:
Personal data is the fuel of our future economy – a source of revenue and driver of prosperity. As the public becomes more aware of the threat to their privacy, new business models are emerging to deal with consumer concerns, presenting both opportunities and challenges to existing businesses.
For companies seeking to use consumer data to personalise 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.