75% of consumers are concerned by how brands personalise their services
Personalisation is one of the key ways businesses can enrich their customer experience and increase engagement with consumers, yet despite a desire for more tailored services, discounts and marketing methods, there is an anxiety over how this personalisation is achieved. A new global survey of 12,000 consumers by JDA has revealed that 75% of consumers are concerned that their shopping history with a brand, online and offline, is being used to provide more personalised service. At the same time, 70% of participants say it is important for brands to understand their individual circumstances when marketing to them. The report confirms the complex and contradictory relationship between customers, data-usage and personalisation. As ever it is vital that brands communicate transparently with customers over their data use, elucidating how sensitive information is protected in order to ease this apprehension.
EU to probe Amazon’s data use
The EU commission is in the early stages of launching a probe into Amazon’s merchant data use. The commission’s own market observations have prompted this study into the retailer, who acts as both a seller and host to third-party merchants through the Amazon Marketplace. So far the commission has distributed questionnaires to marketplace retailers to help compile information. Margarethe Vestager, the EU Competition Commissioner, announced the probe amidst concerns that Amazon uses marketplace data to inform its own strategy as a retailer which would give it an advantage over other sellers.
Ofcom suggests regulation for social media platforms
Ofcom has argued the case for regulation on social media firms such as Facebook and Google in a similar way to broadcasting regulations, aiming to make these online sites safer for users and to protect user data. Ofcom’s Chief Executive Sharon White spoke to the Telegraph on plans to co-ordinate global action for combatting social media harm, disclosing the statistic that 80% of the public fear, ‘illegal, dangerous, misleading or inappropriate’ content, hacking or privacy online. With trust diminishing in the big social media players across all aspects of privacy, Ofcom is calling for stricter rules and potential fines although it is unclear how this regulation will take place.
90% of customers consider themselves more brand-loyal than ever
Brand loyalty appears stronger than ever according to research on American shoppers from Yotpo, the commerce and marketing cloud solutions provider. 90.2% of consumers are feeling equally or more loyal to brands when compared with a year ago, with over half of those consumers citing their love for a product as the reason for their brand allegiance. Securing brand loyalty gives organisations a real competitive edge, with repeat purchasing and power of word-of-mouth driving revenue and enhancing reputation. Yotpo’s study found that 60% of loyal customers will recommend that brand to friends and families whilst almost 40% will spend more on a product by that brand, even if there are cheaper alternatives elsewhere.