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

The survey 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).

Samsung unveils Gear S, LG announces G Watch R smartwatch

The world's biggest smartphone maker has been pushing hard to develop the wearable devices market as it looks to counter slowing earnings in its mobile division, which led to weaker-than-expected second-quarter earnings.

Samsung is hardly alone in pushing wearables, which have yet to catch on with consumers. Rival Apple Inc is expected to launch its own device this year and LG Electronics Inc  on Thursday announced its new G Watch R smartwatch featuring a circular plastic OLED screen, a stainless steel frame and leather strap.

Samsung's new smartwatch, called the Gear S, differs from its predecessors with a bigger 2-inch (5 cm) curved display and offers features like WiFi connectivity, pedestrian navigation and a built-in GPS. This device will run on Samsung's nascent Tizen operating system.

Samsung said the Gear S will start selling from October. It did not give details on pricing or where it will be available. LG said its G Watch R will launch in key markets in the fourth quarter, without indicating a price.

Apple likely to launch ‘iWatch’ on 9th September

Tech giant Apple is expected to unveil its first smartwatch on September 9 in its hometown in Cupertino, California.

Tech enthusiasts are awaiting the launch of Apple's smartwatch. Reports also say that Apple has obtained the trademark for the name 'iWatch' in several countries.