The research has been carried out by F5 Networks and talked to more than 7000 consumers across the three regions. They were quizzed about shopping habits and their attitude toward data. Almost three quarters of participants are concerned that if they share data with a private company that it would end up somehow in the wrong people’s hands. 64% of participants are concerned that the data would be compromised.
The research showed that three quarters of people are mistrustful of social media brands and marketing, while just 21% believe that these companies have the ability to provide adequate data security. The researchers have said that companies that have a traditional outlook when it comes to security, such as banks, are often considered to be the most trustworthy. However, consumers are more inclined to share their personal information with social media, even though they earn the least trust.
Researchers are warning that regardless of the industry type, any organisation needs to be sure that their data security works with the ever growing demands of the consumer. More than half of people were willing to hand over personal data such as their birthdate, marital status, and their personal interests.
The study shows that different countries had different outcomes. The UK is the country where consumers are the most likely to hand over no personal data, with 33% of consumers saying they would not give up any personal information at all.