New data shows 81% of consumers prioritize ease of use online, with identity theft highest concern over financial loss
Ping Identity, a leading provider of seamless and secure digital experiences, released its annual survey that evaluates consumer sentiment around the online brands they engage with. The report surveyed consumers worldwide across 14 regions and found a need for easier and more secure capabilities that address concerns around identity theft and simplified access.
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Expanding on trends from last year’s report, consumers are emphasizing their need for convenience online, but continue to place value on effective security strategies. According to the latest findings, 81% say that ease of use is important to their digital experiences, 65% would switch to a comparable brand if it offered passwordless authentication, and 63% are most concerned about identity theft, ahead of financial loss, when it comes to having their information online.
Read the full survey:Â Brand Loyalty In the Age of the Digital Economy
“In today’s world, consumers hold all of the power. Not only is there more competition among brands to see who can deliver the best digital experience, but consumers are more informed than ever. They know what they want from an organization to create a positive digital experience – and they’re willing to leave a brand that isn’t meeting their needs,” said Peter Barker, Chief Product Officer at Ping Identity. “To stay ahead of competition, businesses need to create easy and personalized experiences that alleviate security concerns without collecting too much personal data.”
Key global findings underline the importance of ease of use:
- 60% have stopped using an account or online service because they became frustrated with the login process; a steady increase since 2022 (59%) and 2021 (56%).
- 59% are still storing passwords by memory alone, with 54% admitting they have too many to keep track of.
- 43% of consumers would leave an online service to switch to a competitor if the competitor’s login process was significantly easier.
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While consumers want simple digital experiences, they also want to know their data is secure, especially given the recent proliferation of artificial intelligence (AI):
- 54% are concerned about the possible use of AI technology to create fake impersonations.
- 50% say that the use of MFA makes them feel better about the service because it suggests that the business cares about protecting their data.
- Only 10% of consumers have full trust in the organizations that manage their identity data, with the most trust in banks (61%) and healthcare services (51%).
The findings detailed in this report are based on responses collected from two surveys. The first survey gathered responses from 9,519 consumers across 14 regions, and the second survey gathered responses from 3,400 consumers in five select markets: the US, UK, France, Germany, and Australia, to learn more about consumer attitudes around their digital experiences, from engaging with brands to their security preferences.
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