According to new research by the McCann ad agency, the consumers of the world have caught on to the retailers trying to track their behavior in an attempt to market to them more effectively. The study also indicates that while consumers don't seem to be entirely thrilled with the prospect of having their data mined continuously, nor or are they spectacularly impressed with the results--they are willing to keep an open mind about it if it will translate into tangible benefits to them as shoppers.
Of 10,000 people survey worldwide, 84 percent reported being aware of companies tracking efforts on the websites they visit. More than half, 52 percent, noted a concern that retailers had become overly reliant on algorithms to predict consumer behavior, leaving the shopping experience on the whole feeling more depersonalized. A slightly greater majority, 57 percent, noted a concern about never finding anything new since retailers would always be making recommendations based on previous clicks and purchases, reports The Wall Street Journal. By far the largest concern among international consumers was the amount of data retailers had about them--which 71 percent of respondents noted some discomfort with.
However, consumers were not entirely down on the possible rewards of data tracking. 65 percent of shoppers said they were willing to share data if there were understandable benefits to them for so doing.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.