Why are Consumers So Willing to Give Up Their Personal Data?

Data privacy is a hot-button topic. Most people can agree that it’s important to keep personal data private, but are you really doing much to keep your data safe?

Consumers are fervent in their fight to protect their data, but they do little to keep it safe. It’s known as the privacy paradox, and it may be hurting consumer efforts to keep their data out of third-party hands.

Why are consumers so willing to give up their personal data?

Data in Exchange for Something Valuable

According to recent research, most (75%) of internet users don’t mind sharing personal data with companies – as long as they get something valuable in return.

A recent Harris Poll also found that 71% of adults surveyed in the U.S. would be willing to share more personal data with lenders if it meant receiving a fairer loan decision. Lenders typically ask for information about the applicant’s personal financial history, but the poll suggests that borrowers may be willing to give up even more information.

Research suggests that consumers are well aware of and understand that data exchange is a sensitive matter, and they’re willing to be participants in the “game.” But they want the game to be fair. In other words, ...


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