Trust Tossup: Consumers Are Wary When Brands Ask For Data

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Trust Tossup: Consumers Are Wary When Brands Ask For Data

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Email is by far the most trusted channel, beating SMS and digital advertising. But people are suspicious of brands in general when it comes to privacy judging by The Optimove 2022 Trust Of Online Retailers Survey, a study released Thursday. 

Of the consumers polled, 55% do not trust brands with their personal information -- up from 48% in an Optimove survey conducted last summer. Moreover, 77% say they will unsubscribe from brands if they feel their data is being misused. 

And 41% of consumers believe that trust between brands and consumers is diminishing, while 35% say it remains the same and 24% say it is improving.

Yet 32% use and shop brands they mistrust every day. And 32% patronize brands they don’t trust, although they try to avoid them. 

The most trusted marketing channels are: 

• Email — 67% 
• Mobile Notification—39% 
• Direct mail (snail mail) — 34%
• TV Advertising — 34% 
• SMS — 33% 
• Website Advertising — 27%
• Digital Advertising — 27% 
• Newspaper/Magazine Ads — 24% 
• Billboard Advertising — 15% 

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In line with that, consumers are most comfortable sharing these personal details: 

• Email — 53% 
• Gender — 52%
• Age — 49% 
• Phone — 25%
• Purchase History — 23% 
• Home Address — 20% 
• Income — 17%
• Social Media Profiles — 14% 
• Browsing History — 14%

Despite that willingness to share data, consumers fear they lack control once they do so. They believe: 

• I am in control of personal information I share — 36% 
• The brand is in control of personal information I share — 36% 
• Neither I, nor the brand, is in control of personal information I share — 28% 

But almost all consumers say that control is important, 51% extremely so. 

What do consumers fear the most when shopping online? They say:

• My financial information will be stolen — 49%
• My identity will be stolen — 33%
• I will be overcharged and not able to recoup funds — 11%
• I am not scared and do not have need to protect my personal information — 4%
• I will accidentally sign up for a subscription program and not realize it — 3%

What can brands do to instill trust? Consumers are reassured when:

• The brand has a policy that my information will not be shared — 56% 
• The brand asks “permission” to offer suggestions — 31%
• The brand knows me and recognizes what I have bought/browsed for in the past — 6%

Yet shoppers seem indifferent to privacy notices, saying:

• I scan and read only the pertinent information — 32% 
• Sometimes I glance at it — 28% 
• I always read every detail — 26%
• I NEVER read it — 14% 

Optimove surveyed 406 U.S. consumers in the fourth quarter of 2022. 

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January 26, 2023 at 11:54AM