Consumers Willing To Pay More for Privacy
CONSUMER PRIVACY—U.S.July 12, 2011
A new study has found that consumers are willing to pay more for purchases from online vendors "with clear, protective privacy policies," ScienceBlog reports. The Carnegie Mellon University study found that, for example, participants in the study shopping for batteries made "significantly more purchases" from sites rated high privacy--47.4 percent--than from sites rated no privacy--5.6 percent. Additionally, consumers were willing to pay, on average, 59 cents more from sites with strong privacy protection. "Our study indicates that when privacy information is made more salient and accessible, some consumers are willing to pay a premium to purchase from privacy protective websites," the authors noted.