Millennials are oftentimes described as idealistic, and according to Gallup, that idealism is reflectedin their trust in numerous institutions. According to the researchfirm, 80% of millennials have “some” or “a lot” of trust inthe companies they do business with to keep their personalinformation secure.
|Across every business type and industry Gallup studied,millennials are the generation that is most trusting ofinstitutions to safeguard their personal data. Gen Xers, babyboomers, and traditionalists trust these institutions less overallin comparison.
|Related: Millennial consumers, mobile use and insurancesales
|That doesn't mean that millennials are completely trusting.Certain businesses such as online retailers and socialnetworks are perceived to be more susceptible to databreaches or not hold the security of customers' data in highregard. Even then, millennials still trust these institutions morethan other generations.
|Does this mean that millennials don't know the risks of dataprivacy, or do they just not care? According to Gallup, there aretwo camps of thought on the matter. On the one hand, it seems likemillennials should be more wary of the safety of their personalsafety because they have never known a world without technology anddata. On the other hand, this reason could also make millennialshave higher expectations for data security.
|The latter may be why millennials trust the following 11institutions to safeguard their personal data more than Gen Xers,baby boomers and traditionalists combined:
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(Photo: iStock)
|Primary bank
Millennials: 67%.
|Other generations: 56%.
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(Photo: iStock)
|Health insurance companies
Millennials: 34%.
|Other generations: 23%.
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(Photo: iStock)
|Credit card companies
Millennials: 27%.
|Other generations: 22%.
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(Photo: iStock)
|Cellphone platform
Millennials: 25%.
|Other generations: 16%.
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(Photo: iStock)
|Email provider
Millennials: 23%.
|Other generations: 17%.
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(Photo: iStock)
|Brick-and-mortar retailers
Millennials: 23%.
|Other generations: 14%.
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(Photo: iStock)
|Cellphone carrier
Millennials: 17%.
|Other generations: 13%.
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(Photo: iStock)
|Federal government
Millennials: 19%.
|Other generations: 12%.
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(Photo: iStock)
|State government
Millennials: 18%.
|Other generations: 11%.
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(Photo: iStock)
|Online retailers
Millennials: 11%.
|Other generations: 10%.
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(Photo: iStock)
|Social networking websites orapplications
Millennials: 4%.
|Other generations: 2%.
|Want to continue reading?
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