New research has revealed that personalisation in retail is now a have-to-have rather than a nice-to-have
A survey from Eagle Eye has found that 75% of consumers say they are unhappy with generic offers and 81% consider relevance to be the most influential factor in whether they redeem promotions.
Eagle Eye’s research also found that 58% of consumers were most likely to redeem promotions sent via digital channels such as mobile, email and social media.
This effect was even greater in younger consumers, where 67% of 16-24 year olds expressed a preference for tech-enabled channels.
“Not only are digital channels the most effective, but they are also the only way retailers can gather the real-time customer data needed to time marketing messages to maximum effect,” said Tim Mason, CEO of Eagle Eye. “Using the insight provided by data, retailers can identify the best moment to send a tempting offer incentivising customers to add something extra to their purchase, or engage with a brand when they might not otherwise.”
Eagle Eye’s research also revealed an increasing demand for predictive offers. Nearly three quarters (73%) of respondents said they would find it useful to be offered promotions for items they had run out of.
By collecting and analysing consumer data, forward-thinking retailers can predict regular customer purchases and send tailored offers to change consumer behaviour.
With 79% of customers saying they are open to trying options other than their usual brand if they are on offer, retailers can capitalise on this by sending a targeted offer to upsell a different, more expensive product, for example, an alternative brand or related product.
The research also found an increasing demand for real-time offers and supported the trend for convenience shopping. 58% of 16-24 year olds said it would be useful to have offers delivered to them when near a store, for example when shopping in town.
“By sending targeted offers we are trying to drive two things; either another shopping trip or additional product purchase; real-time promotions are an important addition to the promotional armoury, particularly for stretching spend,” added Mason.