Most consumers will trade their data for personalization
We love the personal service when shopping, but how much are we prepared to trade-off for that truly customized online experience? And which parts of our private data are we willing to share, and why?
San Francisco-based AI-powered personalization platform Formation.ai surveyed over 2,000 US customers in the first quarter of 2020 about their feelings toward brand loyalty.
Its report, Brand Loyalty: the Need for Hyper-Individualisation, shows that personalization is critical to earning consumer loyalty in today's competitive market.
The majority of consumers only belong to between one and three loyalty programs, meaning a program must really deliver to make the cut for consumers.