48
Future of Retail — Customer Engagement
issue 05
Retailers and brands will need to strike the right balance between the level of personalisation they can offer and what their customers want.
you’ve also added your favourite beers to your profile. Like web browser “cookies” that enable personalised content on the web, mobile apps can activate highly targeted messaging as you walk by screens in public spaces. Good game. A familiar face: you’re visiting the attractions
in China’s historic Wuzhen and the only ticket you’ll need for entry is you. Tourists pre- register with a photo, and cameras at the entry gates quickly scan the crowd and cross-check a database to confirm that each face has paid for admission. The AI-driven technology is considered 99.8% accurate – better than human – and can even tell if someone is trying to beat the system by wearing a mask. Retailers and brands will need to strike
the right balance between the level of personalisation they can offer and what their customers want – or at least what they want right now. It’s a fluid paradigm with emerging technology rapidly delivering new use cases – and consumers deciding if they’re ready to embrace them. Opting-in will likely follow behavioural trends. On the one hand, over 2.5 billion people
are engaged with social media – often sharing personal details with massive audiences. Looking through that lens, life as an open book has become the norm. Yet, at the same time, data security is critically important to consumers across the globe. The Accenture survey found that consumers are keen to know how companies are using their data. Some 70% of the consumers surveyed cited transparency and control as gatekeepers to giving away personal information. How to reap the benefits
of innovation without infringing on personal privacy is a spirited question that’s fueling international debate. While the deliberation continues, retailers
and brands are developing best practices and putting policy standards in place. It’s all about companies treating their customers’ personal data as if it’s their own.
To that end, here are some key rules of the road:
• Customers must opt-in when personal information is being collected or shared
• Customers should always have control over what personal information they share and when, as well as the option to delete it
• Customers should have the ability to turn off sharing quickly and easily
• Companies must explicitly tell customers when they are collecting demographic information and what kind
• Companies must explicitly notify customers whenever they are passing a camera that collects personal identification data
• Companies should make the benefits of opting-in clear and customer privacy protections easy to understand.
The goal at retail is to solve the “give and
get” equation. If I give my personal data to a retailer or brand, I will get a personalised shopping experience in return: savings, suggestions, loyalty points, store news – all curated for me. Market conditions will drive the “give and get” mix, but in the end, the consumer will have the last word.
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