Numbers Game: Consumers are more willing to share their data if they get something in return

It’s pretty common for retailers to collect data on their shoppers. It’s also not so unusual for shoppers to have concerns about the practice. New survey data suggests that consumers are much more willing to give up their info if they get something in return.

Two surveys from Publicis Sapient and YouGov on customer data and loyalty found that 85% of those surveyed in the US are “extremely/very/somewhat” concerned about any company using their data.

• The starkest difference appeared between older and younger respondents, with 60% of people 55 and older expressing concern versus 25% of those 18-34 in the US.

But it turns out data mining is a give-and-take relationship. Almost three-quarters of respondents in the US (73%) are willing to share data for deals, and 65% are “extremely likely” to opt-in to share their info if they’ll get exclusive sales in return.

• At the same time, more than half (55%) want companies to explain how their data is used.

Globally, consumers belong to six loyalty programs on average but only actively use three at a time; in the US, shoppers surveyed belong to eight such programs and use four. More than 75% of global consumers, and 77% in the US, prefer savings over other advantages and rewards.