Concerns are falling despite belief that businesses have no adequate safeguards.
The majority of UK and US adults aged between 20-40 believe privacy in digital world no longer exists with 4 in 10 believing that about only 10% of their personal info is actually private..
Eighty seven per cent of adults said there are no adequate safeguards in place to protect personal info, while about 60% expressed concern over having their buying behaviour getting tracked.
However concerns about privacy are declining when compared with figures reported in 2012 when 85% expressed concern over the tracking of their buying behaviour by websites.
Businesses are not transparent about how personal information will be used believe 70% of adults.
Thirty nine per cent believe that their data is being sold while 42% believed that their personal data is being used by vendors and suppliers to provide them with relevant offers.
Glen Hartman, Global managing director of Digital Transformation for Accenture Interactive said in today’s digital age where consumers are connected and empowered and data is abundant, businesses must align their organisations, technology and strategies to deliver relevant and loyalty-enabling experiences to their consumers.
"As the business leader who typically owns the customer experience for most organizations, the chief marketing officer (CMO) should be in the driver’s seat to encourage a customer-centric digital transformation that generates experiences to meet consumer needs," Hartman said.
Hartman added, "Price and quality are regularly recognized as purchase drivers, but seeing that relevant and useful customer experiences trumped advertising, loyalty programs, promotions, and endorsements in influencing purchase behavior was a key survey finding. It should be a huge wake-up call for CMOs."
"Businesses should align their marketing strategies using advanced analytics to drive real-time recommendations with the needs and interests of today’s consumers who demand a seamless omni-channel experience whether they choose to shop online or in a store.
"When pursuing that seamless customer experience, businesses must balance the need for security and data privacy with the desire to provide an exceptional customer experience. And it goes beyond marketing or shopping transactions."
Accenture survey sampled 2,012 consumers between March and April 2014.