Consumers' tech trust measured
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Despite being keen for new retail technologies, Australian consumers appear to fear and mistrust them.
New research suggests that Australians' excitement for new retail technologies is tempered by concerns about privacy, security, and the loss of human interaction.
Experts say their study highlights the challenge businesses face in bridging the gap between technological advancement and customer trust.
Australian consumers were surveyed about their views on emerging retail technologies such as interactive shopping tools, biometric authentication, and automated delivery.
Many respondents said they are open to the convenience offered by automation, but significant barriers remain, particularly around data security and reduced human engagement.
“2024 has been named the 'Year of AI,' marking a significant shift for individuals, organisations, and society as a whole,” said Dr Nadine Ostern, Cisco Chair in Trusted Retail.
“What was once considered futuristic is now becoming a reality. People are moving from merely being curious about sophisticated technologies, such as generative AI, to integrating them into their everyday lives.”
But when these technologies are introduced by retailers, adoption slows, with trust concerns around both technical and social aspects being the key obstacles.
“Retailers must also understand both the intended and unintended consequences of tech usage to address customers' trust concerns effectively,” Dr Ostern said.
The report found that while 78.8 per cent of respondents consider themselves generally trusting, only 39.6 per cent are open to adopting new retail technologies, with privacy and data security being major barriers.
Australians said they want to know how their data is used and the tangible benefits of new technologies. This suggests greater openness about these factors could improve trust and encourage wider adoption.
Additionally, a growing number of consumers said they are open to fully automated stores and self-driving vehicles, signalling that convenience may drive future acceptance of AI-driven retail innovations.
Trust appeared to vary across different regions.
“Respondents from the ACT were the most likely of all States and Territories to have trust in general (90 per cent) and trust in technology (65 per cent), while Victorians were most likely to adopt new technologies (58 per cent),” Dr Ostern said.
The Trust Trend Report is available for download on QUT ePrints.
It will be launched on 23 October at an event featuring insights from retail experts on the future of retail technology.