Consumers Open Up About Data-Sharing Expectations
09 September 2019 - 09:42 by Mike Price
A survey conducted by Cohaesus has found that while people who buy via safe shopping online are happy for retailers to make use of their personal information, they will only accept this state of affairs if this transaction is reciprocated with tangible benefits of some kind.
This ties in with the idea that personalisation is incredibly important to e-commerce interactions, with sites expected to offer bespoke experiences based on past spending habits while also offering discounts and offers that are tailored to individuals rather than provided generically.
Nine out of ten consumers confirmed that they would be willing for their data to be harnessed and exploited in return for the opportunity to save some cash, although there are still issues surrounding the privacy and security of online shopping which need to be addressed.
The majority of people are aware that personal information can be stolen from the retailers they use, as evidenced by the small but significant number of breaches which have been reported on in the press over the past few years. This results in a small but significant level of reluctance amongst some shoppers to let businesses use their data - hence the need for brands to sweeten the deal to get prospective customers onside.
Study spokesperson Matt Meckes said that in order to provide personalised retail services which customers really appreciate, retailers need to ensure that security and safety are not sidelined but are in fact prioritised. Furthermore, he said that the way that customer data is used needs to be carefully considered, as there is a fine line between impressing people with personalised offers and overwhelming them with deals that are a little too well attuned to their habits.
The balancing act which retailers must pull off is no doubt tricky, but the willingness of shoppers to have their private information used for improved online experiences is reassuring.