Thursday, August 25, 2005
Consumers Waver on Personalization: "Published: August 18, 2005
(After August 26, 2005, this article will only be available to eStat Database subscribers.)
A national survey finds that most consumers want an online experience that is highly personalized, but they are also worried that personalization may mean that their data is not secure.
A new survey published by ChoiceStream and conducted by Zoomerang found that 80% of consumers want a personalized online experience. However, 63% of those same consumers are concerned that their personal data might not be secure.
The pluses of personalization are evident. Retailers are leaving significant dollars on the table by not making it easier for consumers to find merchandise that interests them. A significant 37% of respondents said the last time they went shopping for DVDs/videos that they would have bought more if they had found more that they liked. The same was true of consumers shopping for music, with 34% indicating that they would have bought more if they had found additional titles that they liked.
'The survey shows a clear need for retailers to help consumers navigate through the torrent of options available to them,' says Steve Johnson, CEO of ChoiceStream. 'Too many retailers are losing out on commerce opportunities as consumers leave sites empty-handed simply because they can't find merchandise that interests them.'
Unfortunately, based on heightened fears of losing personal information, the survey found that fewer consumers are willing to provide personal preference and demographic information in exchange for personalized content. In 2005, 59% of respondents indicated a willingness to provide preference information, down from 64% last year, and only 46% are now willing to provide demographic data, down from 56% last year.
'Despite significant interest in personalization, there is growing concern among consumers about the security of their personal data — even with established, trusted brands,' says Mr. Johnson.
Not surprisingly, interest in personalization is slightly stronger among younger consumers, with 83% of 18-24 year olds expressing an interest in some type of personalized content compared to 73% of those over 50.
Consumers are even willing to spend a considerable amount of time answering questions about themselves in exchange for personalized content, with 60% of consumers indicating they would spend at least 2 minutes answering questions about themselves and their interests in order to receive personalized content, versus 56% in 2004. These results are divided along gender lines, with women more likely to spend time answering questions about their tastes and interests than men.
eMarketer's Cookie Report provides an in-depth look at consumer concerns about online privacy. Click here to order a copy."
(After August 26, 2005, this article will only be available to eStat Database subscribers.)
A national survey finds that most consumers want an online experience that is highly personalized, but they are also worried that personalization may mean that their data is not secure.
A new survey published by ChoiceStream and conducted by Zoomerang found that 80% of consumers want a personalized online experience. However, 63% of those same consumers are concerned that their personal data might not be secure.
The pluses of personalization are evident. Retailers are leaving significant dollars on the table by not making it easier for consumers to find merchandise that interests them. A significant 37% of respondents said the last time they went shopping for DVDs/videos that they would have bought more if they had found more that they liked. The same was true of consumers shopping for music, with 34% indicating that they would have bought more if they had found additional titles that they liked.
'The survey shows a clear need for retailers to help consumers navigate through the torrent of options available to them,' says Steve Johnson, CEO of ChoiceStream. 'Too many retailers are losing out on commerce opportunities as consumers leave sites empty-handed simply because they can't find merchandise that interests them.'
Unfortunately, based on heightened fears of losing personal information, the survey found that fewer consumers are willing to provide personal preference and demographic information in exchange for personalized content. In 2005, 59% of respondents indicated a willingness to provide preference information, down from 64% last year, and only 46% are now willing to provide demographic data, down from 56% last year.
'Despite significant interest in personalization, there is growing concern among consumers about the security of their personal data — even with established, trusted brands,' says Mr. Johnson.
Not surprisingly, interest in personalization is slightly stronger among younger consumers, with 83% of 18-24 year olds expressing an interest in some type of personalized content compared to 73% of those over 50.
Consumers are even willing to spend a considerable amount of time answering questions about themselves in exchange for personalized content, with 60% of consumers indicating they would spend at least 2 minutes answering questions about themselves and their interests in order to receive personalized content, versus 56% in 2004. These results are divided along gender lines, with women more likely to spend time answering questions about their tastes and interests than men.
eMarketer's Cookie Report provides an in-depth look at consumer concerns about online privacy. Click here to order a copy."
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