Only 31% Of Consumers In Asia Pacific Trust Organizations Protection to Personal Data
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Microsoft today released the findings from a new study, “Understanding Consumer Trust in Digital Services in Asia Pacific“. Conducted in partnership with IDC Asia/Pacific, the study revealed that less than one-third (31%) of consumers believed that their personal data will be treated in a trustworthy manner by organizations offering digital services
The study, which was conducted with nearly 6,400 consumers across 14 markets in Asia Pacific, also uncovered the following findings:
- Nearly 40% of consumers in the region have had their trust compromised when using digital services;
- Consumers feel that all five elements of trust – privacy, security, reliability, ethics, and compliance – are almost equally important to them;
- Consumers have the highest expectations of trust from financial services, healthcare and education sectors;
- Only 5% of consumers prefer to transact with an organization that offers a cheaper but less trusted digital platform, while 61% will recommend a trusted digital service to others even if the cost is higher; and
- Consumers feel that governments followed by technology companies should take the lead in building trust.
Questions & Answers
Q.What percentage of consumers in Asia Pacific trust organizations with their personal data?
What percentage of consumers in Asia Pacific trust organizations with their personal data?
Only 31% of consumers in the Asia Pacific region believe organizations will handle their personal data in a trustworthy manner. This figure suggests a significant lack of consumer confidence in digital services.
Q.Which sectors do consumers expect to have the highest level of trust?
Which sectors do consumers expect to have the highest level of trust?
Consumers hold the highest expectations for trust from organizations in the financial services, healthcare, and education sectors. These industries are seen as needing to uphold the strongest levels of data protection.
Q.How important are privacy, security, and ethics to consumers when considering trust?
How important are privacy, security, and ethics to consumers when considering trust?
Consumers consider all five elements of trust, privacy, security, reliability, ethics, and compliance, to be almost equally important. This indicates a holistic view of what constitutes a trustworthy digital service.
Q.Who do consumers believe should lead efforts in building digital trust?
Who do consumers believe should lead efforts in building digital trust?
Consumers feel that governments should take the primary lead in building trust in digital services, followed closely by technology companies. This highlights a desire for regulatory and industry leadership.
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