Skip to main content
Instapage

Consumer study finds ‘personalization’ lowest on long list of retailer considerations

A widely accepted idea among retail technology providers is: consumers crave personalization. However, in a new study, Deloitte finds that personalization is last on a relatively long list of factors that consumers consider when choosing a retailer.

The report, entitled “The consumer is changing, but not how you think,” is based on a survey of over 4,000 U.S. adults. It explores nuanced demographic variables and shifts among consumers of various generational, ethnic and income categories.

More diverse shopping population. Deloitte explains, “The population has become increasingly heterogeneous: Millennials, now representing 30 percent of the population, are the most diverse generational cohort in US history, with roughly 44 percent consisting of ethnic and racial minorities. In comparison, only 25 percent of baby boomers belong to ethnic and racial minorities.”

These demographic changes are playing out in specific ways and in specific industries, which facile and widely repeated generalizations — such as e-commerce and mobile commerce are killing traditional retail — fail to adequately capture.

Price, product availability, convenience trump personalization. Deloitte says, “Consumers still look to value, product, and convenience as the overwhelmingly important attributes while making decisions.” This is consistent with historical findings. The firm adds, “often-noted attributes of the modern consumer like core values and personalized experiences ranked lowest among their priorities.” The company does say that these considerations have grown in importance over time but they’re not critical or fundamental to purchase decision-making.

It’s unclear how consumers understood the idea of “personalized experience” on a multiple choice survey. But it’s fair to infer that they had some idea of what that phrase meant. It may be the case that if you demonstrated or framed personalization more concretely you’d get a different response. Nonetheless, this finding seems to fly in the face of numerous other surveys and articles in technology and retail publications over the past few years.

Store visits up. Finally, the study discovered that offline store visits were up overall. “In 2018, consumers traveled to more stores, more often.” Although, when explored in more detail, visits vary by category. “Trips to hospitality, travel, and entertainment destinations rose by 8 percent in 2018. Trips to convenience, quick service restaurants and fuel stations jumped 16 percent. Even brick-and-mortar retail saw a 2 percent increase in traffic. The biggest gains were seen in grocery-related trips, which grew 7.7 percent in 2018, with a notable decrease in visits to traditional retail locations such as apparel stores (1.7 percent) and department stores (10.3 percent).”

Why you should care. These findings affirm the need to concretely understand your target audience and their attitudes and behaviors. With greater diversity than ever — as well as a significant urban-rural divide — it’s critical to not rely on assumptions but on data and experience. There’s a kind of herd mentality that one sees in technology, when it comes to “shiny new objects” or trends (e.g., voice search). But it’s important to question that conventional wisdom and not simply go along with “what the experts are saying.”

The post Consumer study finds ‘personalization’ lowest on long list of retailer considerations appeared first on Marketing Land.



via Marketing Land

Comments

Popular posts from this blog

How to Get SMS Alerts for Gmail via Twitter

How do you get SMS notifications on your mobile phone for important emails in your Gmail? Google doesn’t support text notifications for their email service but Twitter does. If we can figure out a way to connect our Twitter and Gmail accounts, the Gmail notifications can arrive as text on our mobile via Twitter. Let me explain:Twitter allows you to follow any @user via a simple SMS. They provide short codes for all countries (see list) and if you text FOLLOW to this shortcode following by the  username, any tweets from that user will arrive in your phone as text notifications. For instance, if you are in the US, you can tweet FOLLOW labnol to 40404 to get my tweets as text messages. Similarly, users in India can text FOLLOW labnol to 9248948837 to get the tweets via SMS.The short code service of Twitter can act as a Gmail SMS notifier. You create a new Twitter account, set the privacy to private and this account will send a tweet when you get a new email in Gmail. Follow this account …

Instagram Story links get 15-25% swipe-through rates for brands, publishers

Instagram may arrived late as a traffic source for brands and publishers, but it’s already showing early signs of success, driving new visitors to their sites and even outperforming its parent company, Facebook.For years brands, publishers and other have tried to push people from the Facebook-owned photo-and-video-sharing app to their sites. Outside of ads and excepting a recent test with some retailers, Instagram didn’t offer much help to companies looking to use it to drive traffic. So they had to find workarounds. They put links in their Instagram bios. They scrawled short-code URLs onto their pictures. And they typed out links in their captions.Then last month Instagram finally introduced an official alternative to these hacky workarounds: the ability for verified profiles to insert links in their Instagram Stories.Almost a month after the launch, 15% to 25% of the people who see a link in an Instagram Story are swiping on it, according to a handful of brands and publishers that h…

Five great tools to improve PPC ads

Every digital marketer wants to reach the top position on the search engine results. However, if you’ve recently launched a new website or your niche is saturated, starting with paid search ads sounds like a good idea.Strategically created PPC campaigns can drive leads, sales or sign-ups to your websites. You know what? In fact, businesses earn an average of $8 for every dollar they spend on Google Ads.Optimizing PPC campaigns is not easy, but it’s very powerful if you do it properly. Just like SEO, it is essential to conduct extensive keyword research, optimize ad copy, and design high-converting landing pages.Fortunately, there are a lot of effective PPC tools that will help you analyze your competitors’ PPC strategies, figure out tricks in their campaigns, and improve your PPC campaigns.If you are ready to take an evolutionary leap in your PPC advertising, take a look at my list of five amazing tools to save you time, give you crucial insights, and raise money for your business.Fiv…