Millennial and Gen Z consumers will share personal data with retailers — for the right shopping perks.
According to “Personalize to Play,” a new consumer study from digital advertising and analytics firm Adlucent, more than two-thirds (68%) of respondents age 18-34 have logged into a website with a social media account to avoid having to create a new login. In addition, 67% have given up their email address to gain access to promotions, sweepstakes, discounts or notifications.
While these results indicate millennial and Gen Z shoppers will exchange data that can be used for personalization in exchange for greater convenience and better prices, the survey also reveals retailers need to carefully target their efforts. Almost half (47%) of younger consumers prefer relevant ads on sites they access for free.
Other notable results from consumers age 18-34 include:
• Nearly 40% recall clicking on an ad before making a purchase.
• The majority have spent up to $200 online as their biggest purchase, and 25% have spent up to $500. In addition, 51% said it takes them two to six days to make a purchase they consider a high order value.
• Over half shop at night and only 6% shop in the morning. The younger generations are shopping in their free time and primarily on mobile.
Furthermore, 50% of respondents of all ages said they feel “creeped out” when served a digital ad for a product they just purchased. Adlucent surveyed a total of 900 U.S. consumers aged 18-64.