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April 23, 2021

Consumers Grow More Willing to Share Personal Data

Consumers Grow More Willing to Share Personal Data: Merkle Study

Merkle

Consumer attitudes changed significantly during the pandemic, according to this Merkle survey. While quality and price are still the most important factors in purchase decisions, their weight fell while customer service, personalization, and brand became more important. Even more intriguing: consumers became more willing to share personal data in exchange for greater convenience and personalized experiences.

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Three-Quarters of Consumers Will Share Biometrics to Secure Their Bank Account: FICO Survey

FICO

Consumers’ demand for convenience extended to financial services as well, FICO research found. While 41% are more likely to open an account using digital channel, 25% will actually abandon the process if they have to use a non-digital channel to complete the process. Concern about identity theft is so high that 75% will provide their bank with a biometric such as facial scan, fingerprint or voiceprint to secure their account.

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Fewer than Half of Consumers Trust Companies by Default: Morning Consult Report

Morning Consult

This Morning Consult report takes a more nuanced view of consumer motivations, finding that 40% had abandoned a brand due to quality, service, or pricing issues while 25% have dropped a brand due to privacy or social concerns. Fewer than half (47%) assume companies are trustworthy until they do something wrong while 37% require a customer to earn their trust from the start. Read on for fascinating differences by industry, country, and profession.

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