We are
currently in the midst of a revolution that is changing every single aspect of
our lives on a global scale. The digital revolution. In this digital era we
have all the information we could ever seek to know at our fingertips, within
seconds. The technological advancements in the 21st century have
been massive, and they only continue to progress. When considering all the
information accessible to us through the Internet, most people can only think
of positive implications. Of course, the benefits to society from unlimited
information are innumerable, but they come with at least one important
drawback: the breakdown of personal privacy barriers.
Many
Internet users release their personal information online, without even
realizing the inherent risks. Connections between consumer information sharing,
value received and risks aren’t well articulated. The majority of users don’t
read all the fine print in the privacy section to find out how their
information will be used or if it will be publically displayed. Now,
information is so embedded in everyday life that it is becoming increasingly
harder to step back, look critically at the tradeoffs and make intelligent
decisions about whether to decrease, increase, or maintain the routines of
exchanging information.
Consumers
are not completely oblivious, however. There’s a widespread notion that there’s
less privacy than there used to be. But why would anyone give up any privacy?
Consumers’ willingness to reveal personal information is age-related.
Millennials in particular grew up in the digital age with accessible technology,
so shared information is a huge part of our lives. We are more comfortable
sharing our information online than our parents are. When I first began using
social media, I made sure everything—my Facebook profile, Instagram, Twitter
accounts, etc.—were on the highest level of privacy. Nothing I posted was
viewable to the public, and I only friended, followed, and accepted requests
from people I personally knew. As I became more experienced and comfortable
with these sites, my concern for my privacy decreased. Now my recent profile
pictures and cover photos are publically assessable. I realize I should still
make efforts to protect my privacy, but it has become common practice online to
share more and more personal information.
In addition, consumers are becoming
more aware of the consequences of providing information, both intended and
unintended. We know that marketers intend to use the data for business
purposes, such as targeted advertising based on their information. Beyond
marketing, consumers understand the hazards posed to them from data theft of
bank, retail and other customer records. Several publicized data breaches have
affected tens of millions of people across the United States. For example,
Target’s data breach in December 2013 affected around 70 million customers,
stealing their names, addresses, phone numbers, and credit and debit card
information. Although customers still have some faith in their ability to
protect the information they share online, in the future it may be necessary to
readdress our standards of privacy.
