Retail companies have increased their investment in technology by 37% compared to 2021.

Companies are increasingly committed to maintaining a personalized shopping experience for each consumer. Currently, 49% of retail companies already personalize the shopping experience, according to the State of Customer Engagement Report from Twilio, a platform dedicated to promoting personalized and real-time experiences for the main brands. The report shows the efforts of companies to improve the experience of their customers in digital channels every day. For the report, a survey of more than 4,700 B2C leaders from different industries around the world was conducted, in addition to a survey of more than 6,000 global consumers.

Among one of the main objectives of the Twilio report, it was necessary to know the main trends of consumers in terms of personalization, data privacy and trust, and as a result of the results obtained, the focus of attention has been placed on brands that do not take advantage of origin and zero-origin data linked to customer interactions with the intention of improving the shopping experience and enhancing its value. After all this, 66% of consumers say they stop consuming a brand if they do not have a personalized experience. Something that urgently needs to be covered by brands, who currently continue to overestimate consumer communication preferences, data privacy protection and transparency in the use of their customers' data.

Twilio report presents technology as the main tool to improve the customer experience
Among other issues that the report also highlights is the importance of personalization and customer experience, taking as data that 60% of consumers are frustrated when encountering underdeveloped or inconsistent experiences on digital platforms.

In view of the above, retail companies have increased their investment by 37% in the last year in the technology sector, mainly for investment in CDPs (72%), CRMs (65%) and CEPs (61% ). After this investment destination, companies have reported that they have a greater ability to adapt to changes in the needs of their customers, as well as an increase in trust in the brand or organization. Likewise, the companies that carried out the use of these technologies obtained a 48% increase in the retention rate of their clients with respect to the year 2021.

On the other hand, companies that will face challenges related to data protection in the coming months, as reflected in the Twilio State of Customer Engagement Report in which it is presented, data protection of customers (44%), finding the balance between security and consumer experience (44%) and regulatory complexity (35%) as the main challenges to overcome.

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