According to a new report from GfK, in partnership with the National Retail Federation (NRF), consumers appreciate personalization as a perk of e-commerce, with brands and retailers vying to anticipate their every need. But to turn personalization into a viable business opportunity, companies need to find ways to scale their efforts – a challenge for companies in every vertical.
At NRF’s upcoming conference NRF NXT, GfK trend experts will reveal consumers’ needs, desires, and concerns about targeting and personalization – and how marketers can use this information to guide smarter decision making as they ramp up their one-to-one marketing.
This presentation, entitled “The Personalization Paradox ” will take place Tuesday, July 23, at the Four Seasons Hotel in Las Vegas. GfK will share consumer insights about personalization, including:
- 90% of Americans report at least one major source of stress in their lives – suggesting a need for time-saving, personalized solutions.
- 50% of U.S. consumers report that the brands they buy are an expression of themselves.
- 63% of millennials like it when a website keeps track of their activities and makes recommendations to them.
- 58% of all consumers are increasingly skeptical about trusting technology.
The session will also provide examples of brands that are succeeding with personalization, in categories ranging from apparel to beauty.
GfK’s presentation at NRF NXT will be led by Joe Beier, EVP of Consumer Insights and North American lead for the FutureBuy® retail research program; and Rachel Bonsignore, Senior Consultant of GfK Consumer Life.
“One of the goals of our session is to get companies to take a fresh look at their personalization initiatives – to view them through their consumers’ eyes and ask critical questions about what consumer benefits are really being delivered,” said Beier. “This is an essential ingredient of smart personalization strategies – now and for the future.”
“Personalization is driving exceptional shopping experiences for retailers of all shapes and sizes,” said NRF Vice President of Research Development and Industry Analysis Mark Mathews. “Attendees at NRF NXT will walk away from this presentation with an understanding of how to bring this key trend to life in their own marketing efforts.”
GfK’s presentation is based on research from GfK Consumer Life, a global data and insight service providing values, attitudes and behavioral insights in the US since 1973 and globally since 1997; the largest, longest-standing, and most robust study of its kind. Consumer Life research is based on more than 30,000 interviews worldwide each year.
To request a forthcoming white paper based on this presentation, click here.
GfK connects data and science. Innovative research solutions provide answers for key business questions around consumers, markets, brands and media – now and in the future. As a research and analytics partner, GfK promises its clients all over the world “Growth from Knowledge.”
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $2.6 trillion to annual GDP and supporting one in four U.S. jobs — 42 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies.