While many consumers generally report feeling hesitant about their data being used for targeted advertising, business consultancy company Infosys has released a study that shows they’re often willing to trade personal information for promotional deals.
The study surveyed 5000 people around the world with 1000 of those based in Australia.
Of the Australians surveyed, 81 per cent said they’d be willing to share their email address and 67 per cent would share their post code in exchange for customised offers. But that’s about it really, with only 32 per cent happy to share their date of birth and nine per cent their income.
Social media plays a tricky role in shopper behaviour. A consumer’s interaction via social media with a brand, or with family and friends about the brand, would encourage 68 per cent of them to shop from the retailer again. However, only 14 per cent of shoppers would be willing to share their profile info.
Fifty-one per cent of Australia’s digitally savvy shoppers said they’d be willing to have their online or mobile behaviour shared with retailers in exchange for targeted promotions. However, retailers appear to be missing the digital opportunity with most surveyed consumers saying they found ads recieved on thier mobiles, online, or email least relevant.
Infosys’ retail client manager, Sumit Madan said; “Australians are clearly willing to trade some useful personal information with retailers if they can extract real value from it. When it comes to their personal data, there’s a line shoppers are willing to cross. Smart retailers must figure out how to persuade them to cross it to leverage the wave of opportunity that the online shopping revolution and big data present.”