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BizReport : Ecommerce archives : November 23, 2016

Among Millennials, convenience trumps security

Despite harboring security concerns around the sharing of personal data with retailers via mobile, apps, and the Internet, the convenience of such technologies outweighs the risks, according to a new study from LexisNexis Risk Solutions.

by Helen Leggatt

The study into Millennial's use of, and attitudes towards privacy and technology reveals that, despite this generation being one of the most digitally connected, more than half (52%) harbor concerns about identity theft via mobile, app or online activities. That figure rises to 65% among females.

In fact, the vast majority (84%) believe their personal data is not fully protected online.

Yes, 89% of Millennials continue to shop online at home, with 47% using a smartphone and 29% a tablet.

Worryingly, perhaps, for retailers is that just 7% of Millennials claim to "completely trust" them with their personal data. Yet, their continuation to use mobile, apps and the Internet to make purchases and other transactions suggests convenience trumps security.

"These findings highlight the unease that many millennials feel about information sharing, particularly when it comes to online and mobile transactions," says Steve Arnison, Director, LexisNexis Risk Solutions. "Retailers today must recognize that customer privacy concerns will continue to increase as society becomes more digitally connected. As such, businesses will need to take proactive measures now to protect their customer's best interests and meet the demands of an increasingly digitally-savvy customer base."

Tags: ecommerce, Millennials, research, UK

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