Nearly two-thirds (64%) of consumers in Singapore prefer brands to directly get data from them instead of third parties. They are also more likely to disclose information when incentivised, especially with cash rewards, discount coupons and loyalty points.
Yet, 77% of consumers in Singapore currently either accept all or selected cookies when prompted on websites or apps. They believe doing so will enable them to receive personalised customer experience and advertisements. However, they are concerned about data privacy when they receive targeted advertisements based on cookies.
The Consumer Data Revolution in Asia Pacific study by Twilio also found that trust, transparency and past experiences are critical.
Eight in ten consumers in Singapore are more willing to share personal data with brands they trust, with consumers having more confidence in brands they have good experiences with, and those that are honest and transparent about policies.
Furthermore, 64% of Singaporean consumers who had full knowledge of how their data is being used are comfortable with their data being shared with another brand.
“Today, consumers expect brands to protect their data and be upfront about how their data is being used. The combination of scepticism towards third-party data, along with the willingness to share data with trusted brands, is fuelling new opportunities and forging the pathway to a healthy and sustainable data-sharing ecosystem in Singapore and across the region,” said Nicholas Kontopoulos, Twilio’s vice president of marketing for Asia Pacific & Japan.
