Top tech stats: GDPR concerns, consumer loyalty and much more

Welcome to your round up of some of the past week’s most interesting surveys, statistics and reports relevant to those involved in the UK tech industry.

This week we bring you stats relating to GDPR, content marketing and concerns about retail apps.

GDPR concerns

A study by Veritas Technologies has found that 86% of organisations across the globe are concerned that a failure to adhere to the upcoming GDPR could have a major negative impact on their business.

Some 20%, the research showed, are worried that not complying with the new regulation could put them out of business.

Additionally, 47% of those surveyed say they have major doubts that they will meet the impending compliance deadline, set for 25 May 2018.

Some 21% said they were also worried about potential layoffs, as they perceive job losses to be an inevitable outcome as a result of financial penalties incurred as a result of not complying.

Almost one third (32%) said their current tech stack was unable to manage their data effectively. This, they said, could hinder the ability to search, discover and review data – all essential criteria for GDPR compliance.

Content marketing

According to Prezi’s Science of Attention report, 80% of consumers forget the majority of information from branded content after just three days. More than half, the same report found, don’t recall a single detail.

The findings show that some 70% of 16-24 year olds agree they would feel more engaged to a brand if the latter interacted with them.

Prezi’s research shows that the three most common reasons consumers forget content are irrelevancy (55%), a lack of motivation to remember it (35.7%), and the fact that there is too much content to retain (30%).

Surprisingly, distractions (18%) and stress (9%) were far less significant factors.

Millennials’ brand loyalty

Recent research conducted by Accenture shows that 67% of millennials will spend more with brands they love, compared to older shoppers.

Additionally, 38% said they expected to increase spending with these brands over the next 12 months.

Despite this, the research found that earning and maintaining loyalty from younger consumers continues to be challenging. Some 70% of consumers regularly keep an eye out for better deals, with one in four changing over to a competitor in the past year.

Additionally, the research also showed millennials can be more demanding than any other group, with one in four (28%) believing that companies should continually try to earn their loyalty, compared to 17% of baby boomers.

Data and privacy concerns

Some 74% of shoppers said they were mostly concerned about the security of their information when they use retail apps.

Aside from this, research by mobile technology solutions provider Apadmi, showed that more than a third (34%) said they didn’t like the idea of retailers storing their information because they are unsure of what it would be used for.

Additionally, the findings revealed that 28% of 18-44 year olds don’t like the idea of stores retaining information about them, such as shopping habits and previous purchases.

Some 36% of 45-54 year olds, 41% of 55-64 year olds and 44% of over 65s share the same concern.