OpenText has conducted a survey analysing consumer views on data privacy. This is juxtaposed to their 2020 survey, and consumer concern over data privacy is on the rise. 

Almost half of British consumers surveyed say they would no longer use or buy from a company they were previously loyal to if it failed to protect or leak their personal data.

Furthermore, just over three quarters (77%) of Brits worry more about their personal data now that organisations operate distributed work models. 

While this is a large percentage of Brits committing to this ideal, it may not prove true. Major corporations have dealt with significant data breaches, including Google, Meta, and LinkedIn, and users still flock in the millions to use their services. 

For these companies, a lack of alternatives may protect them from losing customers amid data privacy concerns, but for organisations with contendable competitors, data security practices would be a must to secure their customer base. 

60% of Brits say they would be willing to pay more to use or buy from an organisation that expressed their commitment to personal data protection. Today, this high figure may be impacted by the cost of living crisis as consumers will have to shift their economic priorities. 

The study notes that the pandemic has dramatically changed the way people think about their data – 29% of UK consumers are concerned that their data will be kept by the NHS even after track and trace has been left behind. 

In addition, awareness of data privacy laws in general has increased since March 2020, with 52% of Brits saying they have a ‘vague’ idea of data privacy legislation, a stark increase from 36% at the beginning of the first lockdown.

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However, Brits who consider themselves ‘very’ aware of data privacy laws have actually decreased since the start of the pandemic, from 48% to 39% in 2022. 

This is perhaps sparked by changes in privacy laws around the UK, the introduction of GDPR and the proposed changes in the current legislation. An increased education on specific data privacy laws is therefore required. 

79% of consumers have taken the steps to protect themselves, knowing how to secure data on apps, email and social media accounts. However, they may not be doing enough – only 40% of consumers regularly check their privacy setting for best practice. 

With increased concern and awareness, businesses need to level up to gain and retain consumer trust. 

Andy Teichholz, Global Industry Strategist, Compliance and Legal at OpenText said “In today’s post-pandemic world, organisations must unlock their information advantage, to protect their customers’ information and, in doing so, allay their concerns and retain their trust.”

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