80% of consumers wary of wearables: survey

Enterprise Innovation editors
27 Aug 2014
00:00
News
Daily News

Some 80% of consumers have privacy concerns with wearable Internet of Things (IoT) connected technologies, according to the 2014 State of the Internet of Things Study.

However, half of those same consumers said they would be willing to share personal data collected by such devices with third-party retailers when presented with compensation such as a coupon or discount.

The study conducted by Acquity Group, which is now part of Accenture Interactive, covered more than 2,000 consumers across the United States.

“Our data reveals a gap in consumers’ fears of data privacy and their actual purchasing behavior,” said Jay Dettling, president of Acquity Group. “To capitalize on these opportunities, companies should focus on specific benefits that sharing data will deliver to consumers.”

Findings suggest that incentives make sharing wearable data more palatable to consumers. Only 9% of responders said they would share data with brands for free. But that percentage dramatically increases when consumers are presented with a coupon or discount in exchange for sharing data.

Specifically, consumers are most willing to share wearable data for coupons and discounts based on their lifestyles (28%), information on better workouts to reach their goals (22%), information on the best foods to eat to reach their goals (22%), coupons for fitness gear (19%).

The study also revealed that many consumers are willing to share data from a wearable device with a third party.

More than half (53%) of those polled were willing to share data with doctors, 27% with family, and 17% with friends.

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