New study from affilinet has revealed that three out of four UK customers aren’t happy to supply personal data in exchange for exclusive offers and promotions.
Although almost a third (22.9%) of those surveyed by the performance marketing network believes it’s a “fair exchange” if they get something in return for sharing information, most (44.6%) customers would rather “advertising was less relevant than my data.”
The issue of consumer information protection remains a hot topic as the countdown to the EU General Data Protection Regulation (GDPR) is underway, with new regulations aiming to harmonise data privacy laws in Europe to protect and empower its citizens as well as change the way companies approach the issue.
The survey of a nationally representative sample of 2,043 British adults also explored opinions in relation to people’s shopping habits. Almost a quarter (24.2%) of those who purchase goods online between two to three times a week agreed that companies should track online activity to make sure advertising is relevant. Those shopping online less frequently showed less enthusiasm for data sharing.
The numbers also varied in different regions, with Londoners showing appreciation for the link between data tracking and relevant advertising (22.8%), an approach much less popular in Scotland (6.1%) and Wales (8.3%).
As approximately one in four businesses (26%) are unprepared for GDPR coming to life in May 2018, the issue of customers' preferences in terms of sharing data and advertising will need to be addressed sooner rather than later.