A recent IBM survey showed that consumers are willing to give up a great deal of information about themselves if it will mean a better shopping experience.
Privacy issues aside, customers are
willing to share personal information if it means a better shopping experience.
According to a recent IBM survey of
28,000 consumers, shoppers are looking for a more personalized shopping
experience and are willing to share select details about themselves with their
favorite retailers, in order to educate brands on exactly how, when and where
to approach them.
The survey showed that consumers are
willing to dish to retailers about their media usage (75 percent); demographics
(73 percent); identification, such as name and address (61 percent); lifestyle
(59 percent); and location (56 percent) for a more targeted and smarter
shopping experience, IBM said.
Based on the survey, consumers are
telling IBM they want to receive more communication-not less-but they want it
to be delivered through preferred media channels and in a relevant way. IBM's
ongoing research shows that retailers must provide clear compelling reasons to
shop, deliver personalized offerings, and reach shoppers when and where they
prefer in order to win over their wallets. And, based on the research,
consumers appear to be more than willing to give retailers the data to make
this experience possible.
Meanwhile, the rapid influx of digital
data is posing new challenges for retailers. Customers are sharing their
experiences widely online, giving them more control and influence over brands.
A recent IBM CMO study of more than 1,700 chief marketing officers from 64
countries and 19 industries revealed that the majority of the world's top
marketing executives recognize a critical and permanent shift occurring in the
way they engage with their customers, but question whether their marketing
organizations are prepared to manage the change. This shift requires new marketing
approaches, tools and skills to effectively reach customers.
"The speed of technology innovation,
consumer adoption and access to information has created an environment where
everything is known and the consumer is truly the one in power, coalescing around
shopping communities of -we,'" said Jill Puleri, global retail leader for IBM
Global Business Services, in a statement. "Retailers can win over this
empowered consumer based on re-establishing a trusted relationship and building
loyalty through improving the store environment, product assortment and store
In addition to directly surveying
consumers to understand their attitudes toward shopping, IBM also listened to
how consumers are talking to one another. Using IBM Cognos Consumer Insight, a
social media analysis tool, IBM reviewed more than 1.2 million documents-publicly
available videos, tweets, Facebook updates, discussion boards, blogs and
newsgroups-over a six-month period to study attitudes related to sporting
retailers and apparel manufacturers.
IBM says that with the volume of
conversations happening online, retailers need to listen to their customers
using sophisticated analytics technology to gain insight and adjust their
marketing messages to address what they are hearing on the wire.
As part of its Smarter Commerce
strategy, IBM Retail Analytics solutions help retailers segment customers;
tailor offers, promotions and communications; and create greater loyalty and
retention through a seamless brand experience, the company said. IBM technology
also allows retailers to analyze consumer behavior to improve their overall
shopping experience and their business operations.