Morrison & Foerster Insights: Consumer Outlooks on Privacy

Morrison & Foerster Insights: Consumer Outlooks on Privacy

As has become increasingly clear in recent years, privacy presents real business risks that have the potential to negatively impact a company’s bottom line, from the legal fees associated with a data breach to a decline in revenue stemming from a loss on consumer trust.

In November 2015, Morrison & Foerster’s Privacy & Data Security Group conducted an online survey of more than 900 consumers from across the United States to gauge attitudes and concerns about various privacy issues.

The key findings include:

  • privacy concerns influence consumer purchasing decisions

  • high-earning, well-educated consumers are more likely to stop buying from a business because of a data breach

  • identity theft is the biggest privacy concern among consumers

  • the government fares worse than the private sector when it comes to consumer trust

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