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Cisco study shows consumers’ privacy awareness is on the rise
A global study by Cisco shows that consumer awareness of privacy laws is increasing, with 53% reporting that they are aware of their national privacy laws. That’s a 17% uplift compared to 2019.
The 2024 Consumer Privacy Survey, Cisco’s annual global review of consumer perception and behaviour regarding data privacy, is the first time since the study began in 2019 when a majority of consumers said they were aware of their country’s privacy laws. Among those who are aware, 81% say they are able to protect their data versus the 44% who are unaware.
Breaking this down by age group, the survey found that 64% of consumers aged 25-34 are most aware of their privacy rights, compared to 33% of those aged 65 and above.
The study also showed that consumers, particularly younger ones, are prioritising privacy when making purchasing decisions, with 75% saying they would not purchase from organisations they do not trust their data with.
To safeguard their privacy, 49% of consumers aged 25-34 have switched companies or providers over their data policies or data-sharing practices, compared to just 18% of those 75 years old and over.
When it comes to how consumers are going about safeguarding their data, they’re turning to a range of security tools: 68% say they use multi-factor authentication, and 61% use a password manager to protect and keep track of their passwords. In the 12 months prior to the survey, 67% reviewed or updated their privacy settings in apps or platforms.
Impact of privacy laws
The survey also asked consumers how they felt about privacy laws in their country. A significant amount of all consumers believe they have a positive impact, with only 5% perceiving it as having a negative impact.
“Data is an asset we all must actively work to protect,” said Cisco Senior VP and Chief Security and Trust Officer Anthon Grieco.
“From using multi-factor authentication to making sure that users know very clearly and easily who can access information as it is shared, we are encouraged by respondents taking action to protect their personal information.”
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