Are Gen Zers too trusting with their data online?

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   CURATED READS FOR GEN Z—AND THEIR Z-CURIOUS COLLEAGUES Subscribe Click to get this newsletter weekly first up Welcome back—this week, we're talking about data trust. Do you trust who's using yours? How many times have you clicked "accept" online without really reading those terms and conditions? Agreements like that are part of our daily lives, and research suggests that only a measly 1 percent of people actually read through what they're agreeing to when they sign up for a service or site.  Most terms and conditions also define what data a company can scoop up and sell when you use its product. Plenty of services operate only on data monetization: you trade details about yourself and your habits to carry on along your merry buying, posting, and gaming way. That's an agreement that doesn't seem to bother Gen Z: new McKinsey research by Jim Boehm, Liz Grennan, Alex Singla, and Kate Smaje on the value of digital trust found that we're the most likely to allow apps or sites to collect our data without knowing how that data would be used. And we'll use these apps and sites even if we do know—over 40 percent of Gen Zers said they had OK'd access to personal info in exchange for something like a discount code or free use of a service. Both are classified as risky online behaviors, at odds with younger respondents' high confidence that they're being safe online and the high premium they put on trust. Overall: • Gen Z is the most likely to take risks online. • Gen Z is no stranger to the "save password" or "keep me logged in" checkbox—we're also the most likely to store sensitive info online, especially personal details. • However, Gen Z and millennials are the most likely to perform digitally protective behaviors, such as paying for better security or trying to delete user data when they stop using a service. As the first so-called digital natives who grew up with the internet, Gen Zers are quicker to trust AI-powered services than human ones and are often expected to be the savviest with privacy. But part of having the personalized experience we like means giving up access to data—which might be used in ways we don't want, and those ways might not be as safe as we think. For example, nearly 90 percent of execs surveyed believe their companies are at least somewhat effective at mitigating data risks … but 57 percent of them say their organization had suffered at least one major data breach in the past three years. Ouch. Read the full digital trust report here, and maybe take a look at sites you've let autosave your info, or reexamine your digital trust strategy. May the firewalls be with you.  QUOTE US ON IT "Those who are more digitally savvy or are part of generations that were raised on digital are more likely to consider [data trust] issues on par with typical buying factors such as price when making—or discontinuing— purchases. . . . Those who fail to address trust risk getting 'canceled' in consumers' minds." —McKinsey expert associate partner Liz Grennan on consumers and data use Wait, don't scroll  Do you accept? Want to build a relationship with customers in a changing data world? Here's how companies can change their approach to keep trust as a top priority.   Glimpse into the future. In just three years, the tech world might look completely different. We put together a guide for the data-driven enterprise of 2025—and how to get started today. What is Web3? Industry 4.0? Omnichannel marketing? Get answers to these vital questions and more with our McKinsey Explainers—quick reads on key topics, backed by our data and insights. Check them out on our McKinsey Insights app.   NOT US; STILL GREAT Not feeling lucky. Gen Z is increasingly more likely to skip over Google and click on TikTok's search bar instead—40 percent go to the video site or Instagram as their first step for information. [NYT] Gen Z, minus the Zs. One study found that 93 percent of Gen Zers regularly lose sleep due to social-media use at night—and endless video scrolling is the biggest culprit. [Healthline]  SHARE YOUR INFO WITH US INSTEAD Search >500 job openings  On our Careers Blog, Sonia, a partner in Dubai, left three decades in banking for a fresh start in consulting  Sign up for our free Careers Blog newsletter or >40 other free alerts and newsletters NO SIGN-UP REQUIRED Your latest McKinsey Crossword: Sidelight 38-Across: Occupational phenomenon of extreme tiredness and reduced ability to regulate cognitive and emotional processes... and a hint to this puzzle's theme. Can you solve it? Clear your mind  — Edited by Sarah Skinner, Gen Z curation editor, New York Subscribe Click to get this newsletter weekly BACKTALK Have feedback or other ideas? We'd love to hear from you.  Tell us what you think Follow our thinking McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android. This email contains information about McKinsey's research, insights, services, or events. 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