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| Microsoft-IDC Report Reveals Only Less than Half of PH Consumers Trust Digital Services |
The report – which entitled Understanding Consumer Trust in Digital Services in Asia Pacific – asked 454 local consumers to provide their perspective on the five elements of trust when acquiring digital services. These include privacy, security, reliability, ethics, and compliance. For consumers, all of these were equally important. However, the elements that topped the study were privacy with 93%, compliance with 89%, and security with 87%.
“The upside for organizations with a trusted digital platform is tremendous as the Philippines is one of the fastest growing digital services markets in Asia Pacific,” Andres Ortola, Microsoft Philippines’ General Manager, addressed. “However, despite consumers’ increasing reliance on digital services, there is still a considerable trust gap that needs to be addressed. Most consumers still do not perceive organizations to be trusted data stewards. We urge business leaders to do more to understand what drives consumer trust and focus on how they can build trust and make it a key competitive advantage for their digital services,” he added.
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| Understanding Consumer Trust in Digital Services in Asia Pacific |
The data showed that 44% of consumers have had their trust compromised when using digital services. As a result, 57% of the respondents would switch to another organization, 38% would only reduce the usage of their digital service, while 31% would stop using the said service overall.
See Also: Cherry Mobile Remains Number 1 Smartphone Vendor in PH – IDC
Moving on, three out of four consumers highlighted that they would prefer a trusted digital service over an organization that offers a cheaper but less trusted platform.
Meanwhile, according to the study, Filipinos prefer the government to take the lead in building trust, followed by technology companies. The two got 44% and 35%, respectively. They are also firsts when it comes to fostering trust in AI technologies.
Do you agree with the report? Let us know what you think!
