August 24, 2016
Report: Privacy Concerns a Factor in Shopping-Cart Abandonment
Feb. 2, 2015
Forty-five percent of U.S. consumers are more concerned with their online privacy than they are with national security, according to a new study conducted by privacy compliance solutions provider TRUSTe. The company claims businesses are bearing the brunt of this distrust as 77 percent of those polled said they have moderated their online behavior over the past 12 months because of privacy concerns.
Chris Babel, CEO of TRUSTe said: “These findings show the scale of the impact as three out of four Americans who are concerned about their privacy have modified their online behavior in the last year meaning less data, fewer clicks and lost sales.”
Privacy has become a key component of shopping-cart abandonment with 25 percent of survey respondents reporting they have stopped an online transaction because they weren’t satisfied with the level of privacy provided by that merchant. The study also found more than half have not clicked on an online ad (57 percent) or withheld personal information (51) they were asked for because they were worried about their personal privacy.