Respondents to a survey by KPMG found that 90% of people said data sharing was fine, if it led to a better experience and personalised services.
The percentage is far higher than the 76% global average, the South China Morning Post reported.
Researchers quizzed a total of 25,000 consumers both online and via interviews in the UK, the US, Brazil, the United Arab Emirates, France, Canada, China and India.
UK consumers proved to be the most wary about giving away personal data, with only 6% willing to share.
Chinese consumers had slightly different reasons for sharing their data, however: 37% said they would do so for a better customer experience and personalisation, 24% in exchange for better products and services, 18% for increased security, and 7% for better value and prices. A further 4% said they’d swap their data for money, while 10% said they wouldn’t share their personal information at all.
Most likely to agree to share were millennials (21%). Those in the older, baby-boomer generation were far more cautious, with only 5% happy to share.
Willy Kruh, Global Chair, Consumer and Retail, at KPMG, said, “Chinese consumers enjoy a much greater experience on digital platforms, and they understand the benefits of utilising apps and what comes back [to them] when they share their data.”
Chat bots also proved to be popular with Chinese consumers, with 40% describing them as “cool”. Globally, only 24% of people agree.
The research also revealed greater than average concern about cybercrime among Chinese consumers. Top anxieties were identity theft (62%), and theft of credit cards (53%). This compares to global averages of 46% and 51% respectively. Millennials were consistently the most anxious.
Industries that commanded the highest levels of trust among China’s consumers were tech companies (77%), followed by power and utility providers (76%), banking (74%), and the government (72%).
“Consumers are more likely to trust companies that are directly relevant to the service they are providing,” said Kruh. “For example, when it comes to the handling of social media data, 45% of consumers trusted technology companies the most.
“This may be because they believe their [technology companies’] technological breakthroughs can help protect their data.”
Sourced from South China Morning Post