Source: iStock | JuSun
CI&T’s Personalization Survey found a majority of consumers more “excited” (56 percent) than uncomfortable (44 percent) over the idea of retailers using their personal information to tailor their shopping experience. Paradoxically, it also found a continued high reluctance to sharing personal data to make that happen.
The four pieces of information consumers are most open to retailers knowing are gender, the city they live in (both only 14 percent openness), how much they are willing to spend and their age (both 11 percent). Coming in lower was the person’s browsing history on a retailer’s digital channels and their generation (both seven percent), race (six percent) and annual household income (four percent).
Only one percent chose “I am not ok with any of these data points being shared with a retailer.”
CI&T said in the study, “If brands articulated or demonstrated value to shoppers in collecting their data, there might be greater comfort in knowing what retailers can access.”
Twilio Segment’s The State of Personalization Report 2023 found 23 percent of consumers have become less comfortable about their personal data being used for personalization purposes compared to the prior year. Only 51 percent trust brands to keep their personal data secure and use it responsibly. Still, 56 percent say they will become repeat buyers after a personalized experience, a seven percent increase year-over-year.
Coveo’s just-released annual Ecommerce Relevance Report found 62 percent of consumers are concerned about how personal data is used by online retailers and 57 percent are unaware of how much data they share when shopping online. Fifty-two percent, however, are willing to share data when shopping online if it means they get better deals and offers.
A Gartner study last year found high-profile data breaches and data ethics scandals elevating privacy concerns and accelerating the desire to withhold personal information.
“By 2025, 75 percent of the world’s population will have its personal information covered by modern privacy regulations,” said Brad Fager, Gartner Senior Director Analyst. “This reiterates the need for brands to leverage customer data with a proper understanding of customer preferences, terms of service and relevant regulation.”
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