Retail Shoppers Are Willing To Pay Extra For Personalization: Study

Ecommerce brands may have a new financial incentive for making it easier to shop, judging by Coveo’s 2022 Relevance Report: Ecommerce, conducted by Arlington Research.

Of the online shoppers polled, 52% would pay more if they could find what they want in just a few clicks, and 48% would pay for content that adds value to products. Moreover, 44% would pay more for tailored recommendations.  

Gen Z consumers are even more willing to shell out for easier shopping — 60% would pay for finding products in a few clicks, and 53% for tailored recommendations.

Overall, 59% of consumers worry about how their data is being used by retailers, but 51% would be likely to share personal data with brands they trust.

Still, 40% of shoppers prefer to remain anonymous through checkout.

The study also found that 93% of customers expect the online experience to be as good as or better than in-store — a 3% hike YoY. However, only 6% of customers think online shopping experiences are always relevant. 

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At the same time, 69% would pay a premium for value add-on services

“There is a dichotomy in that people want personalization — even though they like to shop anonymously,” says Brian McGlynn, general manager of commerce at Coveo. “Coupled with the future of third-party cookies, addressing this is top of mind for many retail executives.”

Arlington Research surveyed 4,000 consumers across the UK and USA, taking an equal sample from each. All respondents use a computer for work and work for companies with more than 250 employees.

 

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