54% people prefer phone conversations for customer service

"Technology innovation can help brands stand out, but customer service basics remain vital -the best relationships will be built on mutual trust and simplicity," Gordon Littley, Managing Director of Verizon's Global CX Practice, said in a statement.

The study found that 42 percent are open to companies finding new ways of communicating with them, such as via wearable devices or voice-activated personal assistants.

Among the 18-24 year olds, 55 percent were attracted to companies that deliver customer experience using the latest digital technologies, compared to 47 percent of 25-65 year olds surveyed.

Nearly 70 percent of the respondents felt that companies ask for data for the brand's own gain, rather than to improve customer experience.

But the study also showed that many people are ready to share data in return for rewards as 67 percent surveyed cited discounts and promotions as being among the top three paybacks they would expect in return for their data, followed by 40 percent flagging one-click log-in and transaction tools, and 39 per cent desiring more exclusive experiences.