Highlighting the importance for brands to prioritise data security, about 82 per cent of Indian consumers stated that the protection of their personal data is one of the most crucial factors in earning their trust, a new report revealed on Thursday.
While 83 per cent of consumers value knowing their devices secure their information, 74 per cent approved of using their data for beneficial services, said the PwC India’s latest report.
Additionally, over 66 per cent were willing to share data for more personalised experiences.
“Our survey reveals three main drivers of building trust; firstly, how well do brands make life easier for their consumers; secondly, how well they connect with their consumers and finally how do they ensure inclusiveness with their consumers,” said Ravi Kapoor, Partner and Leader – Retail and Consumer sector, PwC India.
The report surveyed 20,000 participants, including 1,000 from India.
Moreover, the report mentioned that despite 58 per cent of consumers buying products through social media, it remains the least trusted channel, with 76 per cent concerned about privacy and data sharing on social media.
Indian consumers also prioritised climate change and health risks slightly above inflation, with 46 per cent viewing climate change as the greatest threat for the next year.
About 60 per cent of consumers said they would shift towards sustainable products. They mentioned that they are even willing to pay a premium of 13.1 per cent (vs price baselines) for sustainably sourced goods, according to the report.
In addition, the report highlighted consumer focus on health, showing a preference for wellness-focused and sustainable products. Around 69 per cent of consumers plan to eat more fruits and vegetables soon, and 75 per cent actively seek information on food sustainability. Additionally, 38 per cent trust health and fitness experts for wellness advice.