Welcome to the New Age of Privacy

            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 21^st 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.