While consumers have long been willing to share information, this study reveals that 18 percent are also willing to share geo-location, the core function in wearable devices, to receive notifications about events or stores near them that they would enjoy.

Millennials are more likely to feel comfortable sharing personal information with anyone on the internet, 35 percent versus 20 percent of other demographics, and with the government, 40 percent versus 25 percent.

"Our study revealed that consumers are looking for smart technology that will help improve their overall lives and that they would feel comfortable sharing personal information if it offered a better user experience," said Luis Felipe Rincon, CEO of Wearables.com. "Traditional thinking is that consumers would never agree to share their information, such as location, with brands and the like, but this national research shows that consumers—especially millennials—would share their location and much more. In fact, what we found is that wearables may be the tipping point that unlocks the next advertising opportunity for brands."

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