Privacy concerns online impact business negatively

Privacy concerns plague social media usage. According to recent research by TRUSTe and Harris Interactive, 92% of US web users worry about their privacy online.  This worry affects business negatively.

The largest areas of concern for online privacy are (listed in order of concern):

1. eCommerce
2. Banking
3. Social media
4. Mobile apps

76% are more likely to check websites and apps for a privacy certification or seal, which shows the importance of website trust-factors. These trust factors include clear privacy policies, design, technology and affiliations of a brand.

Privacy concerns also appear to be on the rise across these popular online activities listed above. With mobile, privacy concerns focus on mobile app usage. About 85% reporting some worries this year moves the level of concern up 8 points from the previous year.

Negative impact on business

• 96% of over 65 year olds avoid businesses they do not trust. Privacy plays a large role in such trust.

SOURCE:  Survey conducted online by Harris Interactive on behalf of TRUSTe, Inc. (December, 2013)