Retailers today are blessed with abundant data about their customers. Various sources contribute to the accumulation of abundant data which include information from different point of sale systems, purchase history, browsing history, in-store customer movements and behaviors, etc. Retailers understand how valuable all this information is to them, as they look to make the most out of them.
Across the globe, retailers are embracing data-driven marketing to stay more relevant and expedite the level of sales. The specific data use cases are a little different among B2C marketers of different countries. But, there are similarities as well. The two countries that have been taken in consideration here is the USA and the UK. App based and location-based marketing is popular among marketers in both countries. On the other hand, real-time personalization is a top priority for US marketers, not so much for the UK marketers. The following marketing trends illustration of both the countries validates the case in point.
Real-time personalization not a priority for UK marketers
Around 39% of US marketers are expected to implement real-time personalization over the next five years. The research by BlueVenn also reveals that the expectations of consumers in the US is a little different to those of the UK with regards to personalization. Majority of US consumers who are internet users love and expect personalized offers and customized deals from brands. The same can’t be said about the customers in the UK. Personalization is not the consumers’ top priority, and hence not the retailers’ either.
The reason behind this is that consumers in the UK are more concerned about data privacy than the ones in the US. UK consumers are not particularly comfortable with over-personalized promotions, or offers. One could say that they might look at it in a different light altogether. To them, it’s more like brands intruding into their personal space. At least, it’s the case for majority of the consumers. For this reason, brands and retailers are not too concerned about the personalization aspect. However, real-time personalization is very much a priority for the US marketers.
The Similarities among the two sets of marketers
While the approach of the marketers from both these countries is different towards real-time personalization, there are similarities with regards to other aspects of data-driven marketing. Both US (34%) and UK (30%) marketers plan to embrace location-based marketing in the next five years. Retailers, not just in these two countries, but across the globe have started resorting to location-based marketing at an increased rate. Both sets of marketers (41% UK and 38% US) will also look ahead to app-based marketing. Additionally, both sets of marketers are also expected to make the optimum use of big data to predict trends. Predictive models of analysis will put retailers in a state of advantage as they will be better prepared to attend to the needs of the customers.
Apart from these similarities, these marketers will look to fancy a couple of other aspects as well. One of the trends that the UK marketers will look ahead to is artificial intelligence. 30% of retailers will look to embrace AI in the time to come. On, the other hand, the US retailers appear to be keen on virtual assistants with 33% of them validating interest on them.