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Shoppers Are Ready For Personalization And Willing To Trade Data For It

New Survey Reveals the Connection Between Personalization and Privacy

A new study of 1500 online shoppers, conducted by CommerceNext in partnership with Bizrate Insights and sponsored by Persado, showed that consumers value their privacy, but are willing to trade data with trusted brands in order to have a more personalized retail experience. Persado, the AI content generation and decisioning platform, revealed the results of “Let’s Make A Deal: Shoppers Are Ready For Personalization And Willing To Trade Data For It”.

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The survey found that while the retail industry is (seemingly) caught between two (supposed) opposing forces: privacy and personalization, the two could be mutually beneficial if retailers invest in trust-building and creating meaningful value for their target customers. The survey of 1500 online shoppers in the United States* found that customers want retailers to:

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  • Personalize it, please—The vast majority of shoppers (71%) have positive associations with online retail brands that personalize products, offers, and information. Not surprisingly, the youngest — and most digitally immersed — age demographic polled (18-24) skews even higher on positive associations with personalization.
  • Keep it simple—Respondents remember brands that deliver simple (47%), authentic (29%) messaging relevant to what they need (24%). Connecting in a forthright way to shoppers can make the difference between a one-time conversion and a loyal customer.
  • Show, don’t tell—Regardless of age, the “value exchange” (willingness to share personal information for personalization) starts with trust. Trust edged out discount, coupons and free shipping as the number one why shoppers would trade personal info for personalization.
  • Make it for me—While the most commonly remembered forms of personalization are still related to ecommerce, younger shoppers recognize and value a broader variety of personalization options, including personalized fit & style recommendations.

“It’s not surprising to see that shoppers notice that brands are providing personalized experiences and have positive associations with personalization. It’s also true that there is so much personalization in language and offers that consumers wouldn’t notice–because they are so specifically geared to their preferences,” said Amy Heidersbach, CMO of Persado. “We are quickly growing to the point where personalization will no longer be a bonus capability of brands; soon it will be table stakes expectation from consumers.”

“Consumers have spoken — they want retailers and brands to create personalized experiences,” said Veronika Sonsev, Co-Founder of CommerceNext. “They just want to know how their information is being used, which is the foundation for trust.”

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[To share your insights with us, please write to sghosh@martechseries.com ]

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