The Price of Privacy

Privacy is one of the common issues that online shoppers are wary of amidst the rapid growth of e-commerce. Normally, consumers would be hesitant to share data about themselves and their shopping behavior but according to a report from the Internet Retailer, many shoppers are willing to give up some privacy in exchange for free or discounted online content. KPMG LLP, an accounting and consulting firm, conducted the study.

This news may prove useful to Internet marketing service providers who are constantly in search of ways to reach out and communicate better with customers. According to the report, 52% of U.S. consumers would be “willing to let advertisers track their usage patterns and personal information” in exchange for discounted products or free online information. The survey, entitled Consumers and Convergence V: The Converged Lifestyle, also found that 43% are willing to regularly receive advertising messages but without sharing personal data as compared to the other 52%, in exchange for lower fees or services. The survey gathered data from 9,600 consumers in 31 nations.

In an era where gaining consumers’ trust is paramount, this study could help entrepreneurs and Internet marketing service professionals acquire data that may otherwise be difficult to obtain. According to KPMG’s national sector leader for media and telecommunications, companies face the challenge of gathering “compelling” consumer data while navigating tricky consumer privacy concerns and regulations. As an entrepreneur or as an Internet marketing service professional, it is important to note that the last person you want to offend, whether intentionally or not, is the customer because the backlash is truly damaging.

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