35% of shoppers stopped by privacy concerns

Two years after Target's infamous data breach, shoppers' buying decisions are still being impacted as more than 35 percent decided not to buy from a company based on privacy concerns.

That's an increase from several years ago, according to law firm Morrison & Foerster, which conducts an annual survey to measure consumer sentiment about privacy.

For consumers who self-identify as being concerned, 82 percent said they didn't make a purchase because of worries over privacy, compared 54 percent in 2011.

Even more disconcerting for retailers, better educated and higher-earning consumers are most likely to stop buying from a business because of a data breach, according to the report.

Identity theft ranks as the biggest concern for the majority of shoppers, with 52 percent of survey respondents citing it as their primary privacy concern. Ten percent said the right to privacy was a concern and just 9 percent of shoppers said "they trust the system and understand nothing is perfect."

A report in December from data security company Vormetric revealed that 85 percent of shoppers said they would alter where they shopped if a favored merchant had a breach.
 
For more:
-See this report from Morrison & Foerster

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Target settles lawsuit for $39M
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