68% of consumers with minimum household income of $150,000 (“wealthy shoppers”) are willing to share their personal information with merchants online, but this tends to be a requirement-driven activity, with three-quarters of those saying they do so only to complete a transaction. That’s according to survey results from the Luxury Institute, which also found that 63% would join a hypothetical online registry for blocking the tracking of their Web activities (a “do not track” list).
The data paints a picture of a somewhat private wealthy shopper: 82% have placed their phone numbers on a do-not-call list, and half have already fully disabled or edited tracking on their browsers.
It looks like it’s even more difficult for merchants to pry personal information out of these consumers when they’re in-store (and presumably when sharing this information isn’t necessary to complete a transaction). Just 24% of respondents reported sharing their contact information during a recent in-store experience, although 46% said that knowing a salesperson would make them more likely to share personal information.
Among information types, wealthy shoppers are most likely to share their email, both in-store (66%) and online (78%), perhaps as they see this as their least sensitive contact information. Close to 6 in 10 believe that they have little to no control over their personal data once they’ve surrendered it to a company, and 3 in 10 feel it’s extremely likely that their data will be compromised.
Wealthy shoppers tend to reflect the privacy fears of the general population. According to a recent study by Ipsos on behalf of Microsoft, nearly half of the adults surveyed feel that they have little (33%) or no (12%) control over the personal information companies gather while they’re browsing the internet or using online services.