Consumers are unaware of GDPR and other privacy regulation -- but not blissfully so.
On the contrary, 97% worry about protecting their data. But only 50% feel well-informed about how that information is being used by firms, according to Trust is Golden: How Brands Can Prioritize Privacy In The Age Of Data.
On the positive side, 43% of consumers would provide detailed personal data for a discount. And 32% would share it in return for exclusive benefits or perks.
But while only 10% have heard of both GDPR and CCPA (and 70% have never heard of either of them), 91% want their state or federal government to adopt strict data protection regulations.
These rules could resemble GDPR. And they’re almost certainly coming because almost two-thirds of consumers say potential privacy laws will affect how they vote.
Still, consumers are harder on brands than they are on the authorities -- 40% feel companies should protect them, more than those who feel that way about the federal government.
That said, only 38% always read privacy policies. But 72% would be more likely to read them if they were shorter and 62% if they were more
The study also found that:
- 39% believe over 20 firms have access to their data.
- 80% believe their personal information is being sold online.
- 59% think businesses are doing a good job of handling their data, but 71% also don’t think it’s possible to have total control over their online data.
“More data privacy regulations are inevitable in the US, so brands must prioritize and future-proof themselves by fine-tuning their strategies to abide by these standards, while continuing to bring innovative customer experiences to market,” states Jeff Lunsford, CEO of Tealium.
Tealium, a provider of data governance and management tools, surveyed 1,000 consumers.