8 out of 10 consumers have privacy concerns over wearable devices

Nearly 80 percent consumers have privacy concerns with wearable Internet of Things (IoT) connected technologies.

However, half of those same consumers were okay to share data if compensated with a coupon or discount.

The study conducted by Acquity Group, which is now part of Accenture Interactive, covered more than 2,000 consumers across the United States which reveals a gap in consumers' fears of data privacy and their actual purchasing behavior.

President of Acquity Group Jay Dettling said that companies should focus on specific benefits that sharing data will deliver to consumers.

Specifically, consumers are most willing to share wearable data for coupons and discounts based on their lifestyles (28 percent), information on better workouts to reach their goals (22 percent), information on the best foods to eat to reach their goals (22 percent), coupons for fitness gear (19 percent).