From experiential popup stores and escape rooms to improved subscription services, brands are making consumer experience the focus of their retail strategy and customers are grateful for it. A new survey from data management firm, DataStax, found that adults around the world are willing to sacrifice their personal data or money for better costumer experiences.
The survey, which polled adults in the US, UK, France, and Germany, also uncovered that nearly 7 in 10 (69%) international adults will spend more money to reduce their wait times for services they care about. More than half (53%) of adults in the U.S. are more willing to share their personal data with a company that personalizes its services/products based on that data. And more than half of international adults (56%) are more likely to choose digital resources over their significant other for recommendations on products and services.
“It’s now essential for all brands—especially large enterprises—to serve up a truly personalized experience in real time, and provide data-driven insights for a seamless customer experience—or risk facing customer churn,” said Billy Bosworth, Chairman and CEO, DataStax. “Today’s ‘Me’ Culture demands that services and experience must be relevant, always available, instantly responsive, and accessible wherever and however they want it.”
According to the survey, international adults are willing to spend more money for instant gratification. U.S. adults are by far the most willing to pay a premium: on average 29% more than the asking price; they are followed by the UK at 23%, France at 18%, and Germany, the least willing to fork over additional money, at 15%. More international adults (56%) prefer to consult digital resources than prefer to consult their significant other for recommendations for products and services.
“Consumers now expect enterprises to be as flexible and agile as start-ups, respond in real-time, and know them better than ever before.This is especially true for large enterprises who must effectively scale this right-now, highly relevant customer experience in order to differentiate from competitors,” continued Bosworth. “Brands of all sizes across all markets must adapt to meet the needs of today’s ‘Me’ Culture with their customer experience, products, and solutions.”
Read the full study here.