Chart of the day: 42% of S’poreans willing to have their shopping data stored

However, this is only if retailers can give assurance on security and privacy.

This chart shows 54% of Singaporeans prefer retailers who remember their shopping preferences and behaviours to create a better shopping experience; whilst 42% said they will allow the use of their payments data for this purpose as long as security and privacy are assured.

In the Adyen Singapore Retail Report 2022, Singaporeans were found to have the highest standard when it comes to shopping especially online. Seven in 10 said if they had a bad shopping experience either online or in store, they will opt not to go back to the store.

Despite the high standards of today’s shoppers, only 32% of Singaporean retailers have said they are using payment data to understand customer behaviour and improve customer experience. 30% said they use it to better build a picture of their customers like how and when they like to shop. 29% said they use it to identify popular products online and guide product development.