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Will customers trade privacy for relevancy?

According to a recent survey by the International Data Corporation's program director, Greg Girard, just 14 percent of consumers could be considered "privacy spenders”, 47 percent are "privacy hoarders" and 39 percent of consumers are "privacy value seekers,". Both privacy hoarders and privacy spenders are comfortable with retailers using online purchase data for serving them better. They become cautious when it comes to retailers managing their online behavior via social media or other Web activity. Since different retailers attract different demographics, retailers need to know how their customers feel about privacy. Consumers will protest if they feel that the information they are sharing to retailers is not protected. “Trust is not just individually built with a retailer, but affected by these more "external drivers," Girard explains. The challenge will be "how well retailers individually, and as an industry, exercise the responsibility they have to safeguard their customers' data and to use it correctly to deliver value," Girard underscores. Read more at: 

http://www.destinationcrm.com/Articles/Columns-Departments/Insight/Are-Consumers-Willing-to-Share-Private-Data-97716.aspx

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