Just 31% of consumers in Asia-Pacific believe their personal information will be managed in a trustworthy way by businesses offering digital services, with only 5% willing to transact with companies that offer cheaper but less trusted digital platforms. The apparent lack of trust in digital companies is understandable, considering almost 40% have had their trust compromised whilst using such services.
In addition, 53% of respondents in the region would move to another organisation if their trust in the company was negatively impacted, revealed a study commissioned by Microsoft. Conducted by IDC Asia-Pacific, the survey polled 6,372 consumers — aged between 15 and 75 — across 14 regional markets including Singapore, India, Indonesia, China, Japan, and Australia. These respondents were digitally active in their daily lives, turning to online platforms to carry out various activities in the last three months, including banking, shopping, and social media.