DATA COLLECTION AND PRIVACY CONCERNS: EFFECT ON CONSUMERS’ ONLINE BEHAVIOUR AND MARKETERS’ DILEMMA

The business environment today has not only become highly competitive and dynamic, but also extensively heterogeneous. To serve the customized and personalized demands and needs of consumers, organizations and marketers depend greatly on the data collection tools and data analytics. However, the vast data collection and its easy access in the digital world have questioned the privacy of consumers' personal information. Consumers have become more conscious towards online privacy as their easily accessible data can lead to frauds, privacy invasions, unnecessary marketing communications and spamming, etc. Therefore, it is of utmost importance to study the intersection of data collection and data privacy to promote consumer trust and better marketing and business activities. The study shows the increasing privacy concerns and awareness amongst consumers, and their behaviour towards online privacy through literature review. It is observed that several consumer actions display their willingness to share data as it allows marketers to pass on higher benefits in the form of customization, reflecting a privacy paradox. Thus, the marketers' dilemma of whether to focus on data privacy or consumers' convenience arises. The study attempts to understand the available literature on data and privacy scenario in the tech-driven marketing ecosystem. However, considering the criticality and multi-dimensionality of the topic, further work remains necessary to reach a balance between data collection and its privacy