How does privacy relate to today's consumers?

Privacy and related notions of security have long been held at the forefront of consumer demands. But what does that mean?

Privacy and related notions of security have long been held at the forefront of consumer demands. But what does that mean?

Privacy is a very complicated idea that varies from market to market and consumer to consumer. More importantly, as new technologies emerge and offer individuals novel ways to shop, make decisions, communicate and share information, the need to precisely understand the role of privacy and security grows even higher.

With these concerns in mind, McCann Worldgroup released a report aimed at assessing what privacy means to the average consumer. Researchers evaluated more than 6,500 consumers in the U.K., U.S., Hong Kong, Japan, India and Chile.

Among the findings, the study found 71 percent of consumers are willing to share shopping data with a brand online, 86 percent see major benefits in sharing such data and 65 percent see better access to discounts and promotions as a top benefit.

"As technology makes our world more transparent, handling customer data is both a risk and an opportunity for businesses," said Laura Simpson, global director of McCann Truth Central. "While the foremost concern must be to protect the data and privacy of customers, a smart strategy also encourages responsible sharing of relevant data."