A recent study found customers would cease engaging with a brand after it experienced a breach and that overall, most respondents were unwilling to pay extra for the protection of their personal data.
Ping Identity 2018 Consumer Survey: Attitudes and Behavior in a Post-Breach Era report found that following a breach, 78 percent of people said they would stop engaging with the that brand while 49 percent said they would not sign up for and use and an online service or application that recently experienced a data breach.
In addition 47 percent of people have made changes to the way they secure their personal data as a result of recent data breaches, according to the report.
Researchers surveyed 3,264 consumers in the United States, United Kingdom, France and Germany who are at least 18 years old and use at least one of the online services including: shopping, banking, movie/TV, music, government services, travel or Uber/Lyft-type apps.
Respondents also have entered at least one of the following on a website or app in the past 12 months: address, date of birth, phone number, credit card number, bank information, social security number, or driver’s license number.
Consumers as a whole also expect companies to foot the bill to secure the data they request with 56 percent of respondents not willing to pay anything to app and online service providers for added security to protect their personal information although younger respondents were willing to pay between $1 and $49 to ensure their personal data is never breached.
The study also found differences between respondents under 35 years old and over 55 years old with 53 percent of the younger group feeling confident or very confident in online service and application providers’ ability to protect their personal information. While within the older demographic, only 27 percent felt equally confident.
Younger respondents were also more carefree with their sensitive data with 54 percent of them willing to input their bank information on a website or app while only 41 percent of respondents over 55 were likely to do the same.
Younger generations are more likely to spend more to ensure the protection of their data while those over 55 are less likely to.
The study also found respondents in the U.S. are more likely to overshare sensitive information with brands than those in other countries with 16 percent of U.S. respondents sharing their social security numbers compared to 9 percent of French respondents, 6 percent of German respondents and 4 percent of U.K. respondents.
The French were also found to be the least confident in their online services and app provider’s ability to protect the personal data while the U.K residents were the least likely to have experienced a breach and to be the most unwilling to pay for more security.