Personalization is increasingly important to merchants seeking to engage shoppers, according to a new report, “The Clear Path to Personalization.” The report is based on a survey of 200 retail marketing executives conducted by Forbes Insights and Arm Treasure Data. 40% of respondents said that adding personalized elements on their websites and adopting personalized marketing tactics helped boost their sales and average order value, according to the survey, which did not give specific figures for how much the sales or average order value was boosted. Plus, 37% of respondents credit increases in sales and customer lifetime value to personalized product or content recommendations. And 35% have seen increases in transaction frequency as a result of their personalization strategy. Click Read More below for additional information.
Chief executive officers of 51 businesses, including AT&T, Amazon, Comcast and the Interpublic Group, are calling for Congress to pass a federal privacy law that would preempt state laws, including new measures in California.
“Consumers should not and cannot be expected to understand rules that may change depending upon the state in which they reside, the state in which they are accessing the internet, and the state in which the company’s operation is providing those resources or services,” the CEOs say in a letter sent Tuesday to leaders of the House and Senate. “Now is the time for Congress to act and ensure that consumers are not faced with confusion about their rights and protections based on a patchwork of inconsistent state laws.”
The company executives say they are supporting an approach outlined last year by the Business Roundtable, an organization representing more than 200 CEOs. That group’s approach would give consumers the right to wield some control over “personal data,” but defines that term as “data that is held by the organization and identifies or is identifiable to a natural, individual person.”
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