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NEWS2 July 2015

Growing ‘consumer capitalist’ attitude to data exchange

News Privacy UK

UK — Consumers are demonstrating an increasingly sophisticated understanding of the value of their data, according to a report from the Direct Marketing Association (DMA).

Those who see their data as their own to trade has increased from 40% to 52% over the past three years, the study of 1,000 consumers has revealed.

The proportion of consumers who expect to exchange information when making a purchase has also risen, from 65% to 73% since 2012. 55% accept that the exchange of data can make free products available.

When deciding whether to share information, trust has once again been shown to be the most important important factor: 39% of consumers rank this as their top consideration, followed by freebies ( 10%) and discounted offers ( 6%).

“Brands need to capitalise on these positive trends and take the lead by nurturing the growing pragmatism and helping create a culture of data exchange that will benefit all,” said Chris Combemale, CEO of the DMA.

“Without trust, brands will not grow. They must look at the way they deal with consumers and their data, and take their privacy concerns seriously.”

The study was carried out in conjunction with analytics firm Acxiom and the Future Foundation.

@RESEARCH LIVE

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