Online Privacy: A Concern For All

Teenagers and twenty year-olds couldn't care less about online privacy. In fact, it's a thing of the past. That's probably what you think when you see the amount of activity on popular social networks like Facebook, Tumblr, or Twitter. Actually, younger people do care quite a bit about online security and protection. J.D. Power's report "Consumer Concerns about Data Privacy Rising: What Can Businesses Do?" reveals that personal privacy is a concern in all countries across all ages.
The study looked at persons in the U.S., China, and India, from the age of 13 years old through the pre-Boomer generation, people older than 67 years old. Privacy proves to be a global concern; 41 percent of consumers in both the U.S. and India are highly concerned about privacy while 50 percent of consumers in China feel the same way. The report reveals that even though more security measures have been implemented, consumers' mistrust of companies remains high.
Does Age Matter?Consumers' concern with data privacy increases with age: roughly 79 percent of the 13 through 17 year olds claimed to be concerned about their online privacy while 92 percent of the pre-Boomers held these same anxieties. This doesn't mean younger consumers don't care about their privacy; they do harbor their fair share of privacy concerns. The study posits that one reason why younger people may be less concerned is because they're more proactive in their online lives; they're more likely to take actions to reduce their privacy risk and thus worry less about their online security.
One of the study's most intriguing findings was that even though younger generations provide a lot more personal information online, oftentimes they give false information. As someone of Generation Y, I can confirm this; I rarely give out my real birthday, phone number, or emails on several sites that I frequent.
In addition, at least one-half of the people in Generation Z and Y reported that their social networks settings are private, while only 20 percent of pre-Boomers have the same security settings. In other words, older people are more likely to be truthful online while their younger counterparts.
Less Trust in CompaniesThe report revealed several other interesting tidbits as well. For instance, consumers place a lot of trust in laws to protect their privacy; over 50 percent claim they think existing laws and organizational practices provide a reasonable level of privacy protection. However, last year 81 percent of consumers voiced that they still don't feel safe online because they've lost control over how their personal information is collected and used by companies.
Companies should take note; if they want to build brand loyalty they need to be more transparent about privacy policies. Some of the most crucial problems include the facts that there is an increase in commercial use of consumer data and consumers are unaware of the extent to which their data is being collected and used, contributing to their mistrust. As long as privacy remains an issue, companies have a responsibility to make sure their consumers feel safe if they want to be trusted.