Why companies risk losing customers by not reciprocating on shared data: Rebuilding the data-sharing economy in a consumer-driven world

This article looks at how companies can rebuild trust with consumers over the use of their data with the advent of increasing regulation, such as GDPR.

INTRODUCTION

Companies with a heavy dependency on consumer data are at an interesting crossroads. In media and entertainment, the reliance on first-party data is greater than ever as pressure mounts to shift to direct-to-consumer models and deliver seamless experiences across digital, linear, and physical environments (Fulgoni, 2018). Thanks to recent online privacy scandals, however, consumers are becoming acutely aware of the ways in which their data are being misused. (Morey, Forbath, and Schoop, 2015; Satariano, 2018).

Will this awareness make people less willing to share their information? Such a backlash is hard to predict. As consumers become increasingly empowered to...

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