Shocking new research has revealed that data theft such as deceased identity fraud is now considered one of the easiest ways for criminals in the UK to generate cash. It is second only to stealing a wallet or handbag. The research – carried out by data specialists, Wilmington Millennium, last month – asked ex-offenders to rank…
The results follow a growing trend for Brits using social media and fashion blogging to drive crowd-sourced fashion choices, with one in seven (15%) of the nation even sharing images direct from the fitting room to canvas opinion, with one third (35%) of tech-savvy girls and boys aged 13 following suit.
This social fitting room has resulted in nearly one in three (28%) Brits spending over two hours choosing an outfit on the high street or (33%) online while we wait for a friend’s yes or no.
With one in five (21%) Brits admitting to taking selfies of their outfits when out, social media’s influence on fashion choices is not just limited to pre-purchase fashion choices. Two in five (43%) confessed they discarded an outfit that wasn’t social-media proof and got fewer than ten likes on Facebook and Instagram.
Social media sites are now the port of call for fashionistas looking for inspiration, with 43 per cent using Facebook, Pinterest and Instagram to learn about current trends and 38 per cent of men following celebrity profiles for advice.
With two in three (68%) shoppers stating they’d be more likely to buy an item of clothing worn by a fellow shopper, the traditional use of photos featuring professional models is seemingly falling out of favour.
Sharing fashion choices is definitely a young person’s game with those aged 28 deemed the most active social stylistas, following in the footsteps of snap-happy celebrities of the same age such as Rosie Huntington-Whitely, Blake Lively, Michelle Keegan, Ellie Goulding, Lady Gaga, Zac Efron and Drake.
The most commonly shared fashion items on social media have been revealed as evening dresses, wedding outfits, tops and women’s heeled shoes. Images of dull underwear, granny pants, purses / handbags and workwear the most likely to receive the least likes and be thrown away.
Dr Linda Papadopoulos (pictured), behavioural psychologist said: “These results are unsurprising as, although online shopping is becoming increasingly popular, many of us still rely on our friends’ approval when purchasing new clothes or accessories. The research by Shopa suggests that, as shopping has migrated online from in-store, social media ‘likes’ are now one of the keys to driving purchase.
“The ease of being able to share a visual representation of the look or style we’re trying to achieve makes it not only easier to reach out for validation, but indeed it also fits in with the norms of social networking; where acceptance of our choices is actively sought out. It’s not surprising therefore that some people are waiting up to two hours for that nod of approval before making a purchase.
“The poll’s findings regarding the fashion habits of those in relationships are also interesting. Clothing is a big part of how we express our identity, so, admitting that we don’t like our partner’s style can be difficult. It’s interesting to see the lengths people will go to, to avoid these tricky discussions, using covert means such as feigning ‘loss’ or going as far as to deliberately ruin something!”
Spending for Manic Monday (7th Dec) and key retail dates post-Christmas were also predicted to rise above last year’s figures.
James Miller, senior retail consultant at Experian Marketing Services, said: “The weekend saw record-breaking spend online in the UK, with £3.3 billion spent online across the four days from Black Friday to Cyber Monday. This year, Cyber Monday saw sales growth by 34% to £968 million, continuing the trend for massively growing spend and showing that consumers have fully embraced this online shopping phenomenon.
“This year, retailers have stretched Black Friday and Cyber Monday into a longer period, with many offering deals across the week running up to Black Friday and continuing to reduce more products on Saturday, Sunday and Cyber Monday. In future, this nine-day period will become a key phase which very much kick-starts the Christmas shopping season for those relatively well-off families who have busy lives and want to get their purchases in early and delivered before Christmas – retailers will also appreciate the opportunity to spread out the event to maximise their campaigns via email and social media.
“Retailers still have more opportunities to reach customers in the run up to Christmas, with Manic Monday on 7th December representing the time when consumers look to order gifts to ensure they receive them before Christmas, before the traditional Boxing Day sales begin. With logistics companies working hard to fulfil orders placed over the last four days this is a crucial time, with missed deliveries costing both money and consumer patience.”
Black Friday: £1.1 billion (£763K per min)
Saturday 28th: £561 million (£389K per min)
Sunday 29th: £676 million (£469K per min)
Cyber Monday: £968 million (£672K per min)
Predicted spend for the remainder of the retail season:
Manic Monday (7th Dec) – £733 million up 10% yoy (£666m)
Christmas Day (25th Dec) – £728 million up 11% yoy (£658m)
Boxing Day (26th Dec) – £856 million up 22% yoy (£699m)
New Year’s day (1st Jan) – £638 million up 33% yoy (£478m)
The phenomenon of Big Data marches on, with the latest estimates showing that spending on technology and services will reach $48.6bn (£32bn) within four years.
That is according to IDC, which says that between 2014 and 2019, the market will grow at a compound annual growth rate (CAGR) of 23.1%, with the big data market comprising three main submarkets: infrastructure; software; and services.
The software segment – which it defines as information management, discovery and analytics and applications software – will be the main growth driver, with a CAGR of 26.2% over the period.
Services – which includes professional services and support services for infrastructure and software – will grow by 22.7% a year, while infrastructure (computing, networking and storage) will see 21.7% growth.
However, despite the predicted boom time, IDC warns that there will be certain barriers for the big data market such as privacy and security concerns as well as challenges relating to the collection of personal data.
IDC programme director, Jessica Goepfert (pictured), said: “The ability to leverage big data and analytics to develop an integrated view of customer activities and business operations will provide competitive differentiation to companies across industries.
“However, in addition to the huge opportunities, big data presents some significant risks and liabilities to organisations. Companies will need to approach these ongoing challenges with awareness, flexibility, adaptability and responsibility.”
The direct marketing industry has been predicting it for years and at last data strategies are sweeping through global marketing departments like wildfire as brands finally wake up to the power of customer analytics and predictive approaches.
Sir John Hegarty may not be happy about it, yet the BBH chief’s declaration that “data creates nothing; but creativity has all the time” appears to be falling on deaf ears in most marketing departments, according to new research from the World Federation of Advertisers (WFA).
The study, conducted in conjunction with The Customer Framework, found that 72% of senior marketers view data as a strategic asset, but flags up the growing potential for agencies and suppliers to get involved as more than half are only just starting to give it a central place in their marketing.
Based on responses from 32 companies with a global annual marketing spend of $35bn, the survey found that 31% described themselves as advanced or highly advanced in the adoption of data-driven marketing, using multiple data personalisation and segmentation techniques.
These advanced companies were underpinning their efforts with a range of technology solutions, including CRM systems, analytical systems, data management platforms and rules engines.
However, not all companies are as advanced. Some 56% of respondents recognise they are still early in the journey, at best in the initial planning stage and have yet to deploy a data-driven marketing strategy.
The study also found a range in confidence in analytics, with only half “somewhat confident” and 27% “not very confident” in their ability to identify return on investment via data analysis.
Nevertheless, investment into analytics and insight is on the rise with 89% of respondents expecting to increase budgets and 31% to boost them “greatly”. The goal is to evolve the analytics function from historical reporting of “what happened” to more predictive and prescriptive approaches, something that a quarter of respondents already claim to be able to deliver.
The desire to build direct customer relationships via the use of first-party data was clearly highlighted by the research, with 73% of respondents considering this “business critical”, and 88% planning on ramping up usage.
However, with the increased use and processing of consumer data, 85% of respondents acknowledged that privacy is integral to building customer trust, and more than just legal compliance.
And it would seem that despite looming EU General Data Protection Regulation – which could trigger an opt-in marketing data regime – brand owners recognise that their ability to embrace a data-driven future relies on increasing consumer trust, which in turn, requires brands to go beyond compliance.
Some 85% of respondents viewed data privacy as an integral component of customer trust, not just legal compliance.
Matt Green (pictured left), senior global marketing manager at the WFA, said: “It’s no secret that data has become important for marketing purposes, though it’s interesting to note that even some of the world’s biggest companies are only at the early stages of delivering data driven marketing strategies.
“Data consumption is set to increase rapidly and with that sophistication – clarifying how data will be used and how consumer privacy will be protected, should be a fundamental component of a brand’s strategy as it advances into data-driven marketing.
“Enhanced transparency and a strong value proposition will be vital to ensuring consumer trust in how the industry collects, stores and uses data today and in the future.”
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The claims, made by Professor Andrew Ellis of Aston University’s School of Engineering & Applied Science, will come as a further blow to the digital ad industry, which has been under close scrutiny of late.
He reckons that current technologies will reach their limits within the next eight years, and without radical developments and rapid deployment of alternatives, capacity will be unable to match increasing demands.
Professor Ellis, who was speaking at the recent Lightfest 2015, said: “Demand for internet capacity keeps soaring, and we’re now reaching the point where it’s increasingly difficult to stay ahead of that demand using current approaches.
“It’s incredible we’ve managed to stay ahead this long, but now researchers are finding they just cannot fit much more data down traditional fibre optic lines.
Ellis added that unless costs are increased by deploying more fibres, there will need to be radical changes to the way data is used and distributed if the capacity crunch is to be overcome.
“We should start having the conversation now – are consumers willing to accept higher charges for increased bandwidth or can we be more considered about the capacity we consume? Will we lay additional cables, or will we look to the likes of Netflix to help us manage demand?” he added.
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