As consumers the world over gear up for the holiday shopping season, and with Black Friday and Cyber Monday soon upon us here in the US, global consumers will be purchasing online more than ever before. In fact, global e-commerce sales are projected to be more than $140 billion over the holidays, up 15 percent from last year’s record. With all this online commerce, consumers will be knowingly – or unknowingly – sharing their personal information with companies and websites when they make purchases. A common belief is that consumers have lost the ability and will to control how their personal information is used online. But that appears to be changing.
According to the Cisco 2019 Consumer Privacy Survey released today, a significant group of consumers cares so deeply about data privacy that they are already acting to protect their data – even by changing providers when necessary. Our study draws on survey responses from more than 2600 adult respondents in 12 countries worldwide. It explores consumer attitudes and actions regarding their personal data, the products and services they use, their comfort level with potential new business models, and the impact of data privacy regulations. By surveying consumers, our study also adds an end-user perspective to Cisco research on the corporate impact of changes in the data privacy industry.
Overall, our findings reveal a new landscape in which privacy has become a critical business imperative and an important driver of consumer behavior. Specifically, we cover four areas of insights in the study:
Our research also suggests a new framework for measuring the benefits and return on privacy investment beyond regulatory and compliance requirements. Specifically, the areas of benefit include:
As more consumers place a premium on proper protection of their data, companies have a significant opportunity to meet regulatory requirements while they realize business benefits and build trust with their customers.
For most organizations, privacy has become a critical business imperative. Cisco recognizes this imperative, and we prioritize being clear and transparent with our customers. Some of the tangible ways we do this include providing information on our Trust Portal and with our privacy data sheets and data maps that clearly describe how our products and services use data.
Cisco 2019 Consumer Privacy Survey
Cisco 2019 Data Privacy Benchmark Study
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