The internet facilitates every aspect of our lives, which has only become more obvious during the COVID-19 pandemic. Although we spend much of our time online, confidence in internet security remains quite low.
Research by PwC suggests that 69% of consumers think online companies are vulnerable to cyberattacks, and only 10% of consumers feel they have complete control over their personal information. Considering that internet use doesn’t show any signs of slowing, it would be easy to dismiss this consumer anxiety as a concern without any real consequences for online businesses — but that would be a mistake. PwC also found that 88% of consumers will share more data with companies they trust, while 87% will abandon companies they don’t trust with their data.
