It is a common misconception that ‘young people don’t care about privacy,’ but it’s becoming clear that quite the opposite is true. Research conducted by Contagious Communications and global insight and brand consultancy Flamingo, across the US and UK, demonstrates that millennials and post-millennials are considerably more concerned about privacy than other generations and this is manifesting itself in how they interact both with their peers, and with brands.
Millennials are 28% more likely to switch products or services because of privacy concerns than the rest of the population
- 54% of people aged between 18 and 34 in the US have stopped using a product or service because they were worried about the way it was using their personal data.
- This is compared to 42% of the general population and 33% of people over 55.
- 48% of people aged between 25 and 34 in the UK have stopped using a product or service because they were worried about the way it was using their personal data, for example.
- This is compared to 33% of the general population and 30% of people aged 55-64.
“Young people are increasingly aware that their information has value, and brands regularly trade in it to their advantage,” said Arunima Kapoor, Associate Director at Flamingo. “But there is a disconnect between the value people place on their information and brands who trade in it. They are demanding a fair exchange and want to negotiate the terms to mutual advantage.”
Young people are also more willing to pay a premium to ensure their privacy
- In the UK, 45% of people aged 18-34 would be willing to pay a premium in exchange for total confidentiality when buying products and services online.
- This compares to 30% of the population, and 22% of people aged 45-54.
- 25-34 year olds in the UK would pay a privacy premium of 30%. Meanwhile, those aged 34-64 would only pay 18% more.
More details on the ‘Privacy in Perspective’ study, including a full break down of the data as well as Flamingo’s consumer research on privacy, can be found here: http://www.contagious.com/blogs/news-and-views/14048709-privacy-in-perspective-and-numbers