Report Says Privacy Isn’t Really That Important to Consumers

A Pew Research Center study released Wednesday (Nov. 12) revealed what experts are labeling a privacy paradox: as consumers are more concerned than ever about protecting their privacy, a majority say they are willing to share personal information – and that they see the benefits from doing so.

For the study, titled Public Perceptions of Privacy and Security in the Post-Snowden Era, Pew collected data from 607 adults across the nation and found 91 percent of them to either strongly agree or agree that consumers no longer have control over their personal information when obtained by companies.

One of the top concerns for social network-using consumers, Pew found, was how personal data collected by those networks will be passed on to third parties for commercial use – more so than the government accessing that information without consent.

The findings could spell trouble for startups that depend on building a database of consumer information to grow their business.

Or, maybe not.

The research also found that more than half – 55 percent – of respondents either strongly agree or agree with the statement, “I am willing to share some information about myself with companies in order to use online services for free.”

What’s more, 36 percent even said that they appreciate how those services become more efficient as a result of the sharing of that information, and that consumers are least sensitive about sharing information about their buying habits.

The issue of consumer protection reaches across several political fronts, from government surveillance to data breaches at some of the largest retailers in the nation. The topic is complicated even further by conflicting consumer habits: a separate study last month found that just less than half of holiday shoppers with payment cards plan to avoid retailers that were hit by data breaches last year, but experts say such data breaches have historically rarely made an impact on sales.