The majority of consumers want personalization. Worldwide, 64% of consumer prefer to buy from companies that tailor their experience to their wants and needs, shows a Qualtrics survey among 23,000 consumers. Interestingly, the preference is the strongest in India with 82% of consumers wanting personalization, and the weakest in Japan, where just 37% want personalization. But for a company to give a personalized experience they tend to need personal information. Yet consumers are concerned about their privacy. In the same survey, consumers showed they are quite comfortable with companies using their purchase history and visits to the company’s website at 45% and 42%, respectively. However, consumers are way less comfortable with companies using other personal data such as interactions with chatbots, their location and financial information. Having a trusted brand is key for companies, as consumers are 8% more likely to be comfortable with companies using their personal data if they trust them.
Source: Qualtrics XM Institute, Q3 2024.