MRS is highlighting the findings of two reports on privacy and consumer trust which it believes to be of critical importance to all businesses as they prepare for the new GDPR legislation which comes into effect on 25 May.

The GDPR legislation is designed to improve how businesses look after personal data and communicate with customers. But with the latest research from CapGemini revealing that 85% of businesses in the EU and US are unlikely to be compliant, MRS says it’s important that consumers and brands see this as a watershed moment to transform their businesses and drive further growth.

Those key findings are:

1. Young people care more about privacy than (Zuckerberg) thinks

See the report: Private Lives? Putting the consumer at the heart of the debate 

The findings in this report challenge the myth that teenagers do not care about their personal data privacy. Contrary to Mark Zuckerberg’s declaration that privacy is no longer a ‘social norm’,  our report showed that young people take the issue seriously and are very active in safeguarding their privacy, using a variety of methods to protect aspects of their online activity and identity.  

2. Consumers rate 'data security' as the no.1 trust factor for doing business

See the report: Great expectations: How technology impacts consumer trust 


This report found that data security is the most influential factor when determining consumer trust – a significant shift from a time when providing dependable service was enough to secure loyalty.

 

While GDPR puts an administrative burden on businesses, our concern is that the true value of treating customer information properly is not being recognised as a key component towards becoming a customer-centric business. 

The warning for business from these reports is clear - data security is critical to brand loyalty. Young people in particular are well educated as to how businesses may take advantage of their data, and they will penalise those brands that do. 

On the cusp of the new GDPR legislation coming into effect, these reports provide a timely reminder that the protection of personal data and the rights of the individual is in the DNA of the research sector, and at the heart of the MRS Code of Conduct.” 

 

Jane Frost

CEO, Market Research Society

 

GDPR - helping you get ready

We have developed a range of quick briefings and webinars to help you navigate the new regulation, whether you are an SME or a larger organisation.

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