Younger consumers are more open to sharing data for ad personalisation

Data privacy continues to be a topic of much confusion among consumers. But what exactly are their thoughts on data privacy?

Factual, this week, published research in collaboration with the University of Southern California, which shows that younger generations (Gen Z and millennials) are less concerned about data privacy (28.5%) and more willing to share their data than their older counterparts (Gen X and baby boomers average: 41%).

That is not to say they aren’t concerned. Consumers of all ages worry most about identity fraud (72%) and stolen passwords (64%).

But consumers are taking control and in the last 12 months adjusted their privacy settings on their mobile phone (49%) and social media (48%). They’ve also paid more attention to privacy agreements (46%).

The majority of respondents are aware that location data is used to provide targeted advertising and 34% of consumers feel comfortable sharing their location data for marketing purposes.

What’s more, 39% of consumers agree that personalisation benefits their digital experiences and 53% say that it helps them find products they like. Another 36% also agree that personalisation shows that advertisers care about their needs.

This positive attitude means that 68% of consumers are open to sharing information about themselves to receive personalised content. But the type of platform still matters. A larger number of consumers are happy to share data with entertainment sites and navigation or weather apps.

Although consumers remain wary of sharing their data with social media sites, that’s where they would like to see more personalised content.

A larger number of consumers believe that data collection benefits the brand/company more than it does themselves.

Eighty-three percent of respondents are happy to open to sharing their data with companies if they are getting something in return. Similarly, if data is protected, consumers are more inclined to share it.

The survey highlights that uncertainty surrounding data and privacy lies more heavily with the older generations. Brands can cater specific messaging to these generations to address their concerns and ensure that customers remain educated on the topic.

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