When it comes to consumers’ trusting organizations with their personal information online, banking, healthcare and government services were amongst the most trustworthy while retail ranks low, according to the 2024 Thales Digital Trust Index study.
Only 8 percent of consumers surveyed said they trust retailers with their digital information – only 8 percent trust the hospitality sector as well. 29 percent of those surveyed said over the last year, they abandoned a brand because they asked for too much personal information. 26 percent also abandoned a brand due to concerns about how their information was being used.
- 44 percent trust banking services with their personal information online
- 41 percent trust healthcare organizations
- 37 percent trust government sectors
- 24 percent trust insurance
- 18 percent trust education
- 8 percent trust retail
- 8 percent trust hospitality
Provided there are some non-negotiable rules, 89 percent of consumers said they would share their data with organizations. When consumers interact with companies online, 87 percent expect privacy rights regarding their information.
“While businesses are subject to international data privacy laws no matter the sector, those further down the rankings have been subjected to fewer directives directly addressing both data security and privacy,” said Danny de Vreeze, VP of Identity and Access Management at Thales. “As more businesses grow their digital presence, there are lessons to be learnt for non-regulated industries too, as consumer preferences are evolving.”