Business Insider UK will share the data it collects from its website about the shopping habits of UK users, Google and Facebook said today.
The social network and the US company said they would share the details of how users shop with the UK’s Office of Fair Trading (OFT) and other regulators to help improve the transparency of the country’s online shopping habits.
Users of the social media platforms will also be able to see how their spending patterns compare with those of the UK.
They will also receive feedback about how the data is being used and the impact it is having on the economy, said a spokesperson for Google in a statement.
Google and Facebook have been in talks with the Office of the Fair Trading about sharing data about its website traffic in the past, but the companies have been reluctant to make such a deal because of concerns over privacy and the possibility that sharing data could breach their agreements with UK regulators.
The data will be shared with other US internet companies as well, including Facebook, Twitter, Pinterest, Microsoft and Instagram, the spokesperson said.OFT will review the data and decide how it will be used, and the company said the sharing would be “robust and transparent”.
It will also provide more details about how it plans to use the data, the spokesman added.
Google, Facebook, Instagram and Twitter have a combined online presence in the United Kingdom of over 11 million people.