As customers we are continuously evolving which is hugely reflected in the world of retail. Our demands and expectations of the shopping journey have changed and developed over the years, and a new craving for a more personal approach has emerged – but is personalisation becoming too personal?
Personalisation provides retailers with massive potential in terms of customer insight and building customer relationships. A personalised approach is tailored and encompasses preference of taste and shopping history, proving that retailers know their customers inside out. But is personalisation going a step too, far and has it started to become intrusive?
The growth in popularity of the omnichannel experience has really helped drive personalisation, ensuring a consistent customer experience across a multitude of platforms. As soon as a consumer steps out of a store, their personalised journey doesn’t end but continues within the realms of mobile, social and more.
With competitive pressures retailers are being driven to find new ways of targeting their consumers, storing bank details and records of customer’s financial histories seems to be the next steps along this road. But could this approach be too intrusive and flare up concerns about privacy.
Privacy will always be a hot topic for debate. Retailers need to show that they can deliver true values to customers when handed this data proving they can be trusted with this data.
Transparency is key in retail, and any suspicion on a consumer’s behalf that personal data has been misused in any way, for example selling information to third parties, means there will be a breakdown in relations between brands and customers, and retailers may not ever recover from this. Critics of data collection are starting to relax though, but it may do retailers good to try and adopt a more subtle approach that lets the customer know that they are there and care about them and are delivering promotions and offers to them that are of relevance and not a waste of their personal information.
Personalisation has indeed become a crucial part of retailer’s response to the changing trends in customer shopping habits and consumers have become used to enjoying a wider range of products at lower prices. It not only helps to establish and build relationships but helps brands to stand out from one and other. But it’s clear that action is needed, as it doesn’t take much to tip the balance from being a retailer that offers a great personalised retail journey to being a retailer that’s too intrusive.
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