Ping Identity, the Identity Defined Security (IDS) company, announced on Wednesday (Nov. 7) that it has released the results of the Ping Identity 2018 Consumer Survey: Attitudes and Behavior in a Post-Breach Era, which found that many consumers are making changes in how they interact with companies to ensure their own personal data is protected from a breach.
In a press release, Ping Identity said it surveyed more than 3,000 people in the U.S., U.K., France and Germany and found 78 percent of respondents would stop engaging with a brand online – and more than one third, or 36 percent, would stop engaging altogether – if the brand had experienced a breach. What’s more, the survey found that nearly half, or 49 percent, would not sign up to use an online service or application that recently experienced a data breach. Meanwhile, almost half, or 47 percent, have made changes to the way they secure their personal data as a result of recent breaches, and over half, or 54 percent, are more concerned with protecting their personal information today than they were a year ago.
“With the prevalence of data breaches and leaks, enterprises must have the proper controls in place, or they become at risk of losing consumer trust and business,” said Sarah Squire from the office of the CTO at Ping Identity, in the press release. “In the same way that brands are expected to provide user-friendly experiences, they also must understand the value and importance of strong identity management strategies.”
According to the survey, Ping said it found the greatest discrepancies in security sentiment and practices between those under 35 and those over 55. The younger generation has more confidence in the brands’ ability to protect their personal information and is more likely to spend more to ensure their personal information is protected, while the older generation guards their sensitive information more carefully and is less likely to have experienced financial loss as a result of a data breach.
The survey found that 53 percent of respondents under 35 are confident or very confident in online services and application providers’ ability to protect their data, compared with 27 percent of those over the age of 55.
“While consumers clearly place a high value on security, the data also shows that there are limits to how much effort they are going to make or how much they are willing to pay for it,” shared Garrett Bekker, principal security analyst at 451 Research, in the same press release. “This suggests that the burden should fall on vendors and service providers to offer a secure online experience — and rightly so. Consumers don’t go into a restaurant and expect to pay more to ensure they don’t get sick. And if consumers don’t feel secure, the data highlights the cost to vendors in terms of lost customers.”