Trūata’s Global Consumer State of Mind Report 2021 recently featured in an article on Tech News Pro.
Privacy to become the new sustainability as Trūata’s Global Consumer State of Mind Report 2021 reveals 62% of global consumers view it as a key differentiator when choosing a brand.
Data privacy is at the forefront of consumer consciousness across the globe, with 76% of global consumers believing that brands need to do more to protect their data and over 6-in-10 (62%) agreeing it is now a key differentiator when choosing to engage with a brand or product.
This is according to the Global Consumer State of Mind Report 2021, an annual benchmark report produced by Trūata, the privacy-enhanced data analytics solutions provider.
Just as sustainability became an influencing factor in purchasing intentions in recent years, triggering a widespread reassessment of brand values, privacy is set to do the same as consumers align themselves with brands who demonstrate responsible and transparent data practices. Trūata’s latest report, which captures the views of 8,000 consumers across the UK, France, Brazil, South Korea and the USA, provides a global insight into the trends and trajectories surrounding the sentiments of consumers from all walks of life and reveals that embracing a privacy-first mindset is key to establishing and retaining long term customer loyalty.
Seeking more than regulatory compliance, digitally-savvy consumers are now calling for the introduction of privacy certifications, with 62% globally stating they would feel more reassured and more likely to buy from a brand if it was officially certified according to a data privacy standard (for example, a Kitemark in the UK). This statistic rises to 63% in the UK, 64% in South Korea and jumps to 71% in Brazil, where the desire for regulatory action is felt most by consumers.
Interestingly, 65% of global consumers are more willing to engage and shop with brands that tell them exactly what they will do with their data, and 60% agree that they would spend more money with a brand that they trust with their personal data. There is also a clear correlation between consumer privacy and consumer loyalty, with just over two-thirds of UK consumers (67%) agreeing that they would stop using or buying from brands if they don’t demonstrate that they care about responsible data use.
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