COVID-19 has accelerated the digital revolution—and the debate around fair and ethical use of personal data. How can brands prepare for a future where consumers' personal data is central to building relationships and services?
Decoding Data Dynamics’, a report from Dentsu Aegis Network, explores changing consumer attitudes to personal data and the implications for brands. It’s based on an annual survey of 32,000 people across 22 markets.
- It’s not just tech… lack of trust impacts all industries. While Big Tech may take the headlines, it’s clear that no industry is fully trusted with consumer data. Government agencies and healthcare/pharma are the most trusted but media & entertainment companies the least.
- We want personalisation—but not personalised ads. While consumers demand personalisation to shape products, services and campaigns, it is not always welcome. A third (32%) of people globally have opted out of receiving personalised adverts.
- Consumers are taking back control of their data. As in 2019, this year a quarter of people globally say that they have installed ad blockers over the preceding twelve months. Four out of ten have reduced the amount of data they shared online.
- Clear value exchange is expected, although not yet a reality. Nearly half of people surveyed expect to receive financial benefits in exchange for organisations using their data over the next 2-3 years, while 1 in 10 people today have sold their data online in the last 12 months.
To help brands plan for future uncertainty around consumer trends, regulation and tech innovation, Dentsu identified a number of 2025 scenarios and strategies that brands should consider in each potential future.
This report helps shift the focus to the longer-term uncertainties facing businesses use of personal data, but is also helps brands focus on the key trends that are already reshaping their context and which will evolve over the next few years: the rise of walled gardens, privacy as a differentiator, the evolution of tech brands as lifestyle partners, the need to demonstrate clear value exchange.
