Gen Z, Millennials More Willing to Give Up Personal Data in Exchange for Personalized Experiences
Although a slim majority of consumers are wary of companies’ intentions when it comes to handing over personal data, Gen Z and millennials are more game to take that risk — as long as they are getting something in return, according to a recent report on customer trust trends from Salesforce.
The report was generated from a double-blind global survey of 6,723 consumers this spring and defines Baby Boomers/Traditionalists as born before 1965; Gen X as born 1965–1980 and Millennials/Gen Zers as born 1981–1999.
The report confirms what we already knew. Consumers are at a crossroads. Though a slight majority (54 percent) say they don’t believe companies have their best interests at heart, they are still willing to give up personal information if they see a benefit. This privacy paradox has been talked about for a while now, as consumers get used to balancing their desire for personalized experiences with the very reasonable fear that their data would be mishandled, a fear stoked by recent social media scandals and giant data breaches.