UK consumers are locked in a vicious circle with brands over customer experience, according to new research from Accenture. While 47% are frustrated when companies fail to deliver relevant, personalised shopping experiences, nearly half (48%) are concerned about personal data privacy.
- Poor personalisation and lack of trust cost UK organisations £77 billion last year, as 38% of consumers switched companies. Without deeper customer insight, companies cannot deliver the experiences they crave.
- 37% of UK consumers are more likely to shop with companies that always personalise experiences, as long as their trust isn’t compromised.
- 27% say they would find great value in services that intuitively learn about their needs over time to better customise product, service or content recommendations.
Those that succeed will hit a ‘sweet spot’ whereby UK customers will be willing to share more personal insights into their world in return for greater value and the confidence that their data is protected.