Retailers seeking customer data can obtain it in exchange for personalized promotions.
Consumers will trade some types of private information for personalized holiday offers, and are starting their shopping earlier than ever.
When respondents to a recent survey of 1,000 U.S. consumers aged 18 and up from customer engagement platform Braze were asked what details they would share in exchange for receiving personalized deals and offers, respondents they are willing to share private information including email addresses (72%), personal interests (37%), home address or ZIPcode (35%), phone numbers (35%), and date of birth (33%).
The survey also indicates two-thirds (65%) of respondents said they will start their holiday shopping before Thanksgiving. A closer look shows that 22% have already started shopping, while 43% plan to shop in October and early November.
Further underscoring what the survey reveals as shift to earlier shopping for the 2021 holiday season, more than seven in 10 respondents (71%) also said they plan to shop less on holiday promotional events than they have in the past (e.g., Black Friday and Cyber Monday), because retailers are offering more year-round savings and early sales.
Braze customer data shows purchases per buyer and new sessions per active user are highest in November compared to earlier months (September and October). Analysis also shows this time period is most impactful for retention. For example, Braze data shows customers acquired in November 2020 were 16.57% more likely to re-engage in six months (May 2021) than customers acquired in October 2020.
Survey findings also indicate that many consumers plan to explore new brands during the 2021 holiday season. Notably, 41% of respondents plan to split their shopping between new brands and those they already purchase from throughout the year.
Consumer exploration is expected to be driven by desire for savings, as 64% of survey respondents report they can be encouraged to try a new brand or retailer if offered a deal or discount. When interacting with new holiday shoppers, Braze advises retailers to create motivations for ongoing engagements that last beyond the holiday season.
For example, close to half of respondents say they would be willing to sign up for a loyalty program (49%), while more than four in 10 would be willing to subscribe to emails (44%), and almost three in 10 would be willing to sign up for texts (28%), in order to receive personalized offers and savings from retailers during the holidays.
Other interesting findings include:
Four in 10 (41%) respondents said they plan to split their holiday shopping between in-store and online.
When respondents were asked what incentives would motivate them to shop in-store during the holiday season, top answers included premium in-store-only discounts (62%), free gifts with purchase (51%), and buy online, pick up in store (BOPIS) services (36%).
“As retailers engage with both new and existing customers this holiday season, it’s important to continue and build upon existing strategy for the new year,” said Braze in a corporate blog post.