Many consumers understand how companies use their personal data, but not everyone is comfortable with it.
More specifically, boomers, according to an April 2018 survey of internet users worldwide from Salesforce. Indeed, this group was less likely than their younger cohorts to understand how companies are using their personal information, and are generally less comfortable having it used in exchange for a more personalized experience.
Overall, boomers' attitudes towards personalization varies from millennials and Gen Zers. When asked whether they expect the offers they're seeing from companies to always be personalized, only about a third (35%) of those surveyed agreed. In contrast, Gen Xers (51%), as well as millennials/Gen Zers (67%) were more inclined to feel this way.
The Salesforce study is just one of many regarding privacy and personal data. In fact, looking across a variety of studies published throughout the year, consumer sentiment greatly varies.
In a March 2018 survey from Vision Critical, few of the digital buyers in North America polled said they were comfortable sharing their data through third parties. Similarly, an Advertising Research Foundation (ARF) study conducted in June 2018 also found that many digital shoppers in the US value their data privacy and are not too inclined to give it out. When asked what data they were more likely to share, many said gender, race or martial status, more so than financial or medical information.
Meanwhile, a May 2018 study conducted by Syzygy found that some worldwide internet users are willing to shell out their personal information if the price is right. The average amount they're willing to take in exchange for their favorite brand using their personal data? Roughly $150.