Dive Brief:
- Nearly half of global consumers are willing to share their personal data if it will lead to better experiences, according to a survey of 5,000 global consumers released last month by Jack Morton, a global marketing agency. However, that share drops to 19% for consumers in the U.K. and 15% for those in the U.S.
- U.S. consumers’ reluctance to share data is trending downward, and ChatGPT might have something to do with it, according to the report. Half of U.S. consumers would keep the data collected about them private if they controlled it; that’s down from 3 in 5 in a pre-ChatGPT world in 2022.
- Age has an impact on data sharing as well. Nearly 3 in 5 global consumers aged 30 to 49 are willing to share information for better AI-driven brand experiences, compared to less than 1 in 5 of people aged 50 and up.
Dive Insight:
Overall, consumers are more willing to share personal information to improve to their experiences than in the past, but age, trust and regulations are major factors.
Better experiences are extremely valuable to shoppers today, who live in a world where time and patience are at a premium, according to Terra Higginson, principal research director at Info-Tech Research Group.
“When we allow a company to use our data to create a more personalized and proactive customer experience, it holds real value because it reduces the time and effort needed to interact with the company, making the process easier and less stressful,” Higginson said in an email.
Differences in data sharing among different age demographics comes down to whether someone grew up in a digital environment, according to Higginson. Older consumers are sharing data at an increasing rate, even if they are still distrustful.
Age isn’t a perfect indicator of willingness to share personal information, either. Jack Morton’s research found that only half of people aged 18-29 were willing to exchange their information for better experiences — a smaller share than the 30-49 demographic.
Trust also impacts willingness. Companies aiming to build that trust can benefit from letting customers decide for themselves whether they’d receive a better experience or keep their private data to themselves.
“Ultimately, allowing consumers to opt in or out of data sharing is crucial,” Higginson said. “If a company doesn’t offer this option, they risk losing consumer trust.”
