Study: U.S. Millennials More Likely To Distrust Retailers

According to a LexisNexis Risk Solutions study, Millennials in the United States are less likely to trust mobile wallets and retailers when it comes to personal information than is the case in many other countries.

They are more likely to trust telecommunications service providers and financial institutions, the study indicated.

In the study of Millennial consumers in the U.S., the United Kingdom, Germany, Hong Kong, Malaysia, Mexico and Brazil, 31% of younger American consumers said they have no trust in mobile wallets, versus an average of 26%, and 28% who said they have no trust in retailers.

At the same time 19% of Millennial U.S. consumers said they have no trust in telecommunications providers versus an average of 22%, while 9% said they have no trust in financial institutions versus 13% on average.

Millennial consumers in the U.S. are more likely to have been victims of identity theft, at 20%, than the average of the countries looked at, 16%, although they are less worried than average, at 15% versus the consensus 39% about the long-term impact.