Note from the Editor:
This is the fifth in a series of posts by Westerman and Aschenberger exploring the role of trust in the marketplace. Here are the first, second, third and fourth installments. The next post will look at just how closely consumers guard their personal digital data.
We know that consumers don’t always understand how companies collect their data, and that these misconceptions can create a trust gap between retailers and shoppers.
This doesn’t mean that consumers are completely unwilling to share their data with retailers, though. Our team at Create with Context surveyed 800 consumers in the U.S., asking them which information they’d be willing to give up in exchange for 50 percent off of three different items: a gallon of milk, a large-screen television and a new car.