Here’s the thing:
Advertisers might be entering 2024 with some anxiety about Google’s plan to phase out third-party cookies on its Chrome web browser. But new research shows most U.S. consumers would be willing to share their personal information — key data in a cookie-free world — with brands and retailers.
According to the study, 74 percent of respondents surveyed say they would be willing to share personal information with brands and retailers when prompted. The top factors motivating consumers to do so include coupons and deals, product prices, and access to exclusive products and perks.
Coupons or deals are the top reason why people would share personal information with a brand or retailer, with 33 percent of respondents saying it’s a factor. This is followed by product price (30 percent), free-product resource (22 percent), access to exclusive products or perks (18 percent), and product information (also 18 percent).
Fifty-eight percent of Americans surveyed would be more willing, though, to share personal information with a retailer if the only requirement was providing an email address.
Why it matters:
The survey’s findings take on a new meaning when considering Google’s cookie deprecation plan, set to go into effect in 2024. Without the third-party cookies that allow marketers to track consumers across websites, which also allow for retargeting, it could be harder for advertisers to personalize ads and measure their effectiveness on websites. But retailers and brands that foster a relationship with customers and earn their trust may have an advantage by gathering valuable first-party data should those customers choose to share personal information. In doing so, those businesses likely will be able to serve potential customers more relevant ads across channels.
The Trade Desk Intelligence and YouGov surveyed 2,149 U.S. adults 18 years of age and older from September through October in 2023 for a Consumer CPG/Apparel Buying Behaviors Study.
The Current is owned and operated by The Trade Desk, Inc.