Global Report from Jack Morton Reveals Consumers Increasingly Agree to Exchange Their Personal Data for Better Brand Experiences Over Cash

PRNewswire 24-Sep-2024 9:03 AM

Brands That Prioritize Deep Consumer Engagement Will Build Lasting Loyalty and Stronger Relationships

BOSTON, Sept. 24, 2024 /PRNewswire/ -- Jack Morton, a leading global brand experience agency, today announced new research that explores consumers' shifting attitudes toward data privacy and brand trust in an era where AI offers the opportunity for personalization at scale. Experience Better/Insights highlights the evolving landscape of consumer data privacy and brand trust in a post-ChatGPT world. According to the study, more consumers would exchange their data for an AI-driven brand experience than would exchange it for cash or other goods and services.

While only 30% of consumers said they would exchange their data for cash and goods, almost half (48%) would share it for a better brand experience. The agency surveyed 5,000 consumers across the US, UK, UAE, Kingdom of Saudi Arabia (KSA) and Singapore in Q2 2024. The report examined consumer behavior using the introduction of ChatGPT as a pivotal moment.

Key findings include:

• Data privacy concerns persist but are weakening. Despite the rise of AI, consumers remain cautious about sharing their data. While more than 61% of US consumers previously insisted on keeping their data private¹, this number has dropped to 52% post-ChatGPT. Older consumers (50+) are particularly keen to maintain data privacy (76%) compared to younger (18-29) consumers (42%).
  
  
• Willingness to share data for value. Consumers (30%) are increasingly interested in exchanging personal data for tangible benefits (cash or goods and services). Younger consumers (18-29) are most willing (38%) older individuals are l least (9%). That number jumps to 48% overall when the exchange is for a better a more personalized brand experience.
  
  
• Across the globe, the data varies, but the story is the same. In the Middle East, 70% of people in the UAE and 71% in KSA are willing to trade their data for a better brand experience. In Singapore, the number dips to 56% and in the US and UK, people are more skeptical. Only 23% in the US and 19% in the UK would be interested. The results highlight a critical opportunity for brands to offer clear value propositions in exchange for data.
  
  
• The expectation of AI on brand experiences. More than half (63%) of consumers expect AI-driven brand experiences to be more engaging, personalized (59%), relevant (57%), and environmentally friendly (57%). The ability of AI to deliver a 1:1 experience at scale is a significant draw for consumers willing to share their data.

"We're in the thick of the AI era, and the arrival of tools like ChatGPT mark a major shift in brand-consumer relationships. The opportunity for scalable personalized experiences is clear, but brands must be very clear about the value consumers receive in exchange for their data," said Joe Panepinto, PhD, SVP, Executive Strategy Director, and Global Head of Learning and Engagement at Jack Morton.

"It's an exciting time for brand experience. The potential to disrupt, challenge, and reimagine has never been more vibrant. Brands should not hesitate to leverage AI to transform how people interact with brand stories, products, and services in new places, spaces, channels, and platforms. But with innovation comes evolution, and brands need to embrace complete transparency and ensure they deliver not only valuable and relevant experiences but ones that resonate with consumer values, such as being good for the planet," commented Damian Ferrar, EVP, Global Innovation Director.

The Experience Better/Insights report is divided into two parts:

• Part 1 examines data privacy and consumer willingness to share personal data for better experiences.
• Part 2 explores the evolution of brand trust and consumer expectations regarding brand behavior. It will be released in the Fall of 2024.

The research was conducted by Jack Morton with support from YouGov and RepData during April and May 2024. Consumers were asked questions about sharing personal data, the expectations for AI and experiences and feelings about how brands behave.

To access the full Experience Better Insights report and gain deeper understanding into consumer attitudes toward data privacy and brand trust, visit our website to download.

About Jack Morton
Jack Morton is an award-winning global brand experience agency. We partner with the world's most powerful companies to build stronger relationships between brands and the people who matter most to them. Driven by our mission to "Be extraordinary," we inspire the world to experience better. We do this through integrated marketing campaigns with experience at the core. Our specialized practice brands include Jack Health, Vivi, Jack 39, Jack X, and Genuine. Our work and agency culture has won some of the world's most prestigious industry awards, including AdWeek's Experiential Agency of the Year, Cannes Lions, Effies, D&AD pencils, Clios, Emmys, EX Awards, and Campaign's Experience Awards, as well as Global Agency of the Year and Best Places to Work. Founded in 1939, Jack Morton is part of the Interpublic Group of Companies (NYSE:IPG). Visit us at www.jackmorton.com or follow us on LinkedIn, Instagram and YouTube. 

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