Inmar Intelligence, a data-driven technology-enabled services company, today announced findings from a recent survey of 1,000 U.S. adults that aimed to find consumers’ comfort levels with sharing data with retailers, including what shoppers expect in exchange for their data.
The pandemic created a monumental shift to e-commerce and social media purchasing, with consumers stuck at home and increasingly familiar with online shopping and product delivery. Expectations have grown as a result, causing consumers to demand more immediate, customized avenues to their preferred products and services. But what are shoppers willing to share with brands to create these hyper-personalized shopping experiences?
Inmar Intelligence found that the consumer concerns remaining around sharing data with retailers are how the data is being used (16 percent), if it will impact their privacy (19 percent), and if it will lead to ads being too invasive (12 percent). Importantly, the majority of consumers, 65 percent, are willing to share their personal information with a brand or retailer in exchange for more personalized shopping experiences, coupons or other benefits.
Additional key findings include:
- 33 percent of consumers are comfortable with brands using their purchase data in exchange for personalized ads on social media, the open web or on a brand/retailer’s website
- 36 percent of consumers are comfortable with sharing their location for the convenience of online shopping pickup and delivery
- 50 percent of consumers chose social media advertising as the most influential brand/retail touchpoint in their purchasing decisions
- 90 percent of consumers believe that a brand’s ability to personalize their shopping experience impacts the amount they spend/shop with that brand
- Only 9 percent of consumers aren’t comfortable sharing their data with brands/retailers
“The end of third-party pixels threatened digital marketing and advertising, triggering concerns for many retailers. However, the events of the past year have increased many consumers’ reliance on online and social media shopping. As a result, shopper expectations around fast, specific and personalized advertisements, offers and experiences have risen as well,” said Spencer Baird, EVP and President, MarTech at Inmar Intelligence. “As consumers look to improve their shopping experiences, our survey reveals a growing comfort among customers in providing personal data. This data from Inmar highlights new opportunities for retailers in understanding consumer preferences and maintaining loyalty.”
Inmar Intelligence works to support retailers’ development and execution of an omnichannel shopping experience to meet the rising consumer demand for personalization. While the pandemic accelerated the evolution of consumer buying behavior and trends, leaving some businesses flat-footed, Inmar Intelligence’s platform is able to meet these changing demands. It utilizes technology infrastructure that provides the flexibility, security, control and scalability required to guide retailers’ strategic goals. With a technology infrastructure designed to execute machine learning and artificial intelligence at scale, Inmar Intelligence generates actionable insights to better inform planning decisions.