The end of third-party cookies won’t go into effect until next year. But brands who still rely on third-party customer data have a more immediate challenge before them.
Consumers are taking control over their personal data at rates higher than ever before. Not only are there more tools available to them to restrict access to their digital footprint, but they’re taking advantage of these tools more proactively.
Cheetah Digital recently published our 2022 Digital Consumer Trends Index, and we’ve seen a 50% year-over-year increase in incognito browsing, a 48% increase in the use of computer cleaning software, and a 37% increase in ad-blocking tech.
In other words, they’re saying “This is my data. This is my information. You can’t have it.”
At first glance, it’s easy to interpret these results as meaning that consumers don’t want to interact with brands. But in fact, the majority of consumers are willing to share personal and psychographic data with brands in return for the right value exchange, such as a discount, or a rewards program, or a chance to win a prize.
This means brands can still collect information on consumers… they’ll just have to work harder for it. When they do, the rewards will far exceed those of the now-dying paradigm.
The full report dives into important topics like messaging and advertising, loyalty drivers, personalization and the value exchange economy, and privacy and the death of the cookie.
Some big findings and takeaways are below, and you can download the full report here.