What value do the UK’s shoppers put on their personal data?
Episerver questioned 1,000 UK consumers for its 2018 Reimagining Commerce report and found that 86% would share their personal data if they were to receive improved privacy, faster shipping and larger discounts and deals in return.
It also found that 22% feel more loyalty towards brands that personalise their experiences, while 29% say personalisation makes it more likely they’ll buy again.
That said, nearly half (43%) say that brands don’t care enough about personalising their content; and for one in 10 consumers, this results in a lack of trust.
Product promotions is seen as an area that would encourage shoppers to share their data. Some 27% of UK consumers saying they would trade a higher degree of personal data sharing for greater savings and bigger deals. In addition, 18% of UK shoppers said that greater transparency into the security of their data would encourage them to share more personal information, while 16% would like a better understanding of who can access their data.
“With people shopping online more often, we’re seeing they’ve come to expect personalised, seamless experiences, and they’re disappointed when those expectations aren’t met,” said Joey Moore, director of product at Episerver. “To earn customer trust and loyalty, retailers need to elevate their personalisation capabilities beyond product recommendations to display relevant content from both the brand itself and the customers, who have already bought for them, and are sharing their experience. Those retailers that achieve this level of personalised digital experiences will be the ones to succeed in the Amazon era.”
The study comes ahead of GDPR regulations, to be introduced in May, that stipulate shoppers must give informed consent to sharing their data.