Menu visibility control

Video

Events

Startup Surgery

Most Recent

Investments

Limejump closes £3m Series A to disrupt the energy utility market

News

Mass redundancies at Jinn as startup struggles to succeed in on-demand delivery market

Tech City Voices

Tribunal fees ruled unlawful: How will this impact gig economy firms?

Press Releases

GreenKey Technologies and Red Box Recorders partner to launch integrated trading voice collaboration and compliance recording solution
Leading light in British HealthTech, Network Locum, rebrands to Lantum
SteelEye announces regulatory tech specialist Matt Smith as CEO

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

top tech stats
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

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.

Top tech stats: Virgin’s business predictions, developers have their say and more

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.

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Limejump

Limejump closes £3m Series A to disrupt the energy utility market
posted 6 hours ago

startup empty office

Mass redundancies at Jinn as startup struggles to succeed in on-demand delivery market
posted 7 hours ago

supreme court

Tribunal fees ruled unlawful: How will this impact gig economy firms?
posted 9 hours ago

urban massage

VIDEO: Urban Massage’s founder on the challenges and joys of growing a tech startup
posted 11 hours ago

London FinTech

UK ‘ranks third for global FinTech VC funding as firms raise $564m in H1 2017’
posted 13 hours ago

Cleo

FinTech startup Cleo gets £2m in round led by LocalGlobe
posted 15 hours ago