Globally, consumers are increasingly comfortable sharing their data

Despite cultural and economic differences, consumers around the world increasingly see value in sharing their data, according to new research.

That’s according to the 2022 ‘Global Data Privacy: What the Consumer Really Thinks’ report, commissioned by the Global Data & Marketing Alliance (GDMA), in partnership with marketing agency Acxiom and the DMA (Data & Marketing Association) UK.

Why it matters

The GDMA is promoting a consistent approach to data protection legislation and industry best practice across the world and the report findings indicate that consumer attitudes are also broadly aligned.

While not directly comparable with earlier research in 2018 (when only ten countries were surveyed), the signs are that data protection legislation has helped consumers feel increasingly comfortable with the notion of data exchange with businesses. As more people are getting familiar with data and technology, so concern is falling. 

Key findings 

• Over half of surveyed consumers (53%), across 16 countries, agree that the exchange of personal information is essential for the smooth running of modern society.
• The vast majority of global consumers (82%) are prepared to engage with the data economy in 2022.
• Four in ten (38%) rank ‘trust in an organisation’ in the top three factors that make them happy to share data with an organisation.
• The majority of consumers (47%) surveyed are ‘Data Pragmatists’, happy to exchange data with businesses so long as there is a clear benefit for doing so.
• Over the past four years there has been a rise in the proportion of Data Unconcerned’ (from 26% to 31%) – people who show little or no concern about their data privacy – and a slight decline for ‘Data Fundamentalists’ (23% to 21%) – those unwilling to share personal information. 

Key quote

“This report is remarkable for the consistency of its findings across the 16 countries. Critically, consumers understand the part data has to play in the data value exchange” – Martin Nitsche, chair of GDMA and president of DDV (German Data Marketing Association). 

Sourced from GDMA [Image: Pexels]