Staying on the right line of consumer privacy.
The digital economy has allowed organisations to collect more information about their customers than ever before. Consumers benefit from this closeness by receiving an easier, better, and more customised experience.
But while consumers understand their data is being collected and the organisations they deal with on a daily basis are potentially using it in a number of unknown ways, indiscriminate personal data collection risks alienating consumers and 'creeping them out'.
KPMG asked almost 7,000 consumers in 24 countries a series of questions to understand in what circumstances they felt comfortable or uneasy about the use of their personal data – to understand what is considered ‘crossing the line’.
Understanding consumers’ sensitivities around the use of their personal data is central to establishing and maintaining trust between consumer and company:
Understanding consumers’ sensitivities around the use of their personal data is central to establishing and maintaining trust between consumer and company.
For companies seeking to use consumer data to personalise their marketing and services to the individual, build brand loyalty and develop better products, it is important they understand that although opinions on privacy vary around the globe, it is clear that, more than anything, consumers value privacy over convenience.
© 2020 KPMG Channel Islands Limited, a Jersey Company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.