A new study by consulting firm Accenture has found that brands could sell more stuff if they offered a more personalised service and removed unintended barriers to purchase.
The study involved a survey of 1,500 consumers aged 18 to 60 across the US and UK. The results showed that consumers have a positive attitude towards personalised offerings and services, however, they disliked being overwhelmed by choice or receiving irrelevant recommendations.
The study found that 56 per cent of people would be more likely to shop at a retailer (be it in store or online) if they recognised them by name.
Some 58 per cent of respondents said they are more likely to purchase if a brand recommends them a product based on their past purchasing history. And 65 per cent said they would give a retailer repeat business if they knew their previous purchase history.
Despite the need for a more personalised approach, many respondents agreed they rarely got it from retailers they shopped with.
Accenture’s Jeriad Zoghgy said of the results: “Brands today have a responsibility to make it easy for customers to engage, buy and consume what they want, how and when they want.
“In an era when your brand is the experience, it’s imperative that retailers deliver the ultimate user-friendly and tailored experiences or risk sacrificing sales and loyalty,” he said.