Nearly Half Will Try to Only Buy from Brands They Believe Will Protect Their Data
Janrain®, the company that pioneered the Customer Identity and Access Management (CIAM) category, today announced the results of its Brand Trust Survey, which shows U.S. consumers generally trust online retailers with their personal data. This should come as welcome news to the many online retailers around the world that are preparing for their ecommerce sites to meet peak demand on Cyber Monday, conceived by marketing companies and online retailers in 2005 as a means to encourage people to kick off their online Christmas shopping on the Monday after Thanksgiving. According to Adobe Insights, last year’s Cyber Monday transactions hit a record $6.59 billion.
With this year’s Cyber Monday just around the corner, Janrain surveyed over 1,000 U.S. consumers and found 48% will try to only buy from companies they believe will protect their personal data, though they don’t fully trust all of the brands they conduct business with. A third of consumers said they will only buy from companies they can trust will protect their data. 14% said trust won’t factor into their purchases, because they don’t believe any company can protect their personal data.
Ranking America’s Least Trusted Businesses
When Janrain asked consumers to name the types of businesses they trusted least, online retailers appeared near the bottom of the list among other more trusted organizations. The full list of businesses consumers consider the least trustworthy in terms of data protection are ranked as follows:
- Internet companies such as Google or Facebook (31%)
- Hospitality–hotels, restaurants, etc. (15%)
- Internet/cable/phone service providers such as AT&T or Verizon (10%)
- Retail outlets such as Gap or Home Depot (7%)
- News outlets (6%)
- Financial services (6%)
- Online stores such as Amazon (4%)
- Manufacturers of tech gadgets such as Apple or Samsung (3%)
- Travel companies–airlines, etc. (3%)
- Healthcare–pharmaceuticals, healthcare providers, etc. (2%)
When asked to name the brands that are most and least trusted when it comes to protecting their personal data (without any prompts from Janrain), consumers ranked them as follows:
#3: Wells Fargo
“Our survey supports the notion that trust is the central ingredient in maintaining strong brand value,” said Janrain VP Marketing, Bryta Schulz. “The good news is trust in brands, in general, is holding strong despite the criticism some companies have opened themselves up to by not managing their customer data in a secure and responsible manner. But brands that want to maintain their customer loyalty will need to learn from the mistakes made by other businesses to keep that trust intact.”
1,079 US-based residents 18 years-old and over participated in Janrain’s Brand Trust Survey, conducted online in August of 2018.
Janrain pioneered Customer Identity and Access Management (CIAM) and continues to lead the market with industry-first innovations. The Janrain Identity Cloud® enables transformational experiences, delivers insights, ensures privacy and security. Janrain clients focus on Identity First, engaging customers with highly personalized, consent-driven experiences that scale to the largest use cases while meeting regulatory and consumer expectations for privacy, security and control. The company manages 1.75 billion digital identities, enabling digital transformation and consumer trust for the world’s most recognized brands, including Pfizer, Samsung, Philips, McDonald’s and Dr Pepper Snapple Group. Founded in 2002 and headquartered in Portland, Oregon with additional hubs throughout the US, UK, Latin America, India and China. Twitter: @janrain. For more information and industry best practices downloads, visit www.janrain.com.