New research from Voxburner shows that when it comes to new and future technologies, 87% of 16-24s are concerned about the security of the data that they share.
There is a popular belief that young people are frivolous with their data and don’t have any concerns about privacy, but 67% of 16-24s say that security is their number one priority when buying an Internet-connected product. Reliability (45%), cost (43%) and ease of use (22%) were other considerations noted.
Claire, aged 18 from Medway, says, “I certainly have concerns about data privacy and in some cases I will avoid whatever I am doing if I am not willing to share my information with the company. However, in some circumstances I do make the trade off in the hope that the company will be responsible and I will get a decent deal for my sacrifice.”
Businesses and the media are becoming more excited by the Internet of Things, but are young consumers? When asked about their understanding of the term ‘Internet of Things’, 53% of respondents have never heard of it, whilst 19% say they have heard of it but don’t know what it means and 17% have heard of it and know a little. Only 6% say they fully understand it.
When given a full explanation on what The Internet of Things is, 80% of young consumers say the concept sounds interesting to them, 75% feel excited although 16% feel scared and 9% say they feel threatened.
Where the Internet of Things could have the best impact on the lives of 16-24s, 60% of respondents would like to use it to help them research products whilst shopping and save money, 55% say it would have an impact in the home, for controlling things on the move, whilst personal improvement like tracking fitness or better productivity (55%) and for social connectivity to stay better connected and closer to friends and family (46%) are other reasons cited.
Luke Mitchell, Head of Insights at Voxburner says, “The three biggest ways the Internet of Things can help young people are adamantly argued by our respondents: time-saving, added life value and money-saving. These are themes that resonate across all areas of their lives - they want value, convenience and fun. Despite having a higher than average stake in technology and a strong interest in what the Internet of Things can bring, there are concerns too. We’re seeing young people becoming more worried about their data and control of personal information. Respondents can see that the Internet of Things potentially means more of their life is exposed digitally.”
Over a third of 16-24s say the risks associated with new technology such as the Internet of Things do not outweigh the benefits.
The full research ‘Are young people wild about the Internet of Things’ can be downloaded for free on the Voxburner website.