Consumer Reports Study Finds Marketplace Demand for Privacy and Security
From Consumer Reports:
American consumers are increasingly concerned about privacy and data security when purchasing new products and services, which may be a competitive advantage to companies that take action towards these consumer values, a new Consumer Reports study finds.
The new study, “Privacy Front and Center” from CR’s Digital Lab with support from Omidyar Network, looks at the commercial benefits for companies that differentiate their products based on privacy and data security. The study draws from a nationally representative CR survey of 5,085 adult U.S. residents conducted in February 2020, a meta-analysis of 25 years of public opinion studies, and a conjoint analysis that seeks to quantify how consumers weigh privacy and security in their hardware and software purchasing decisions.
Here are some of the key findings from the study:
- According to CR’s February 2020 nationally representative survey, 74% of consumers are at least moderately concerned about the privacy of their personal data.
- Nearly all Americans (96%) agree that more should be done to ensure that companies protect the privacy of consumers.
- A majority of smart product owners (62%) worry about potential loss of privacy when buying them for their home or family.
- The privacy/security conscious consumer class seems to include more men and people of color.
- Experiencing a data breach correlates with a higher willingness to pay for privacy, and 30% of Americans have experienced one.
- Of the Android users who switched to iPhones, 32% indicated doing so because of Apple’s perceived privacy or security benefits relative to Android.
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About Gary Price
Gary Price (firstname.lastname@example.org) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com. Gary is also the co-founder of infoDJ an innovation research consultancy supporting corporate product and business model teams with just-in-time fact and insight finding.