Resolved: about the existence of Income data
I would like to know if normaly purchase data contains the income of the customer. Cause i believe people to be uncomfortable about sharing their income even for a loyalty card.
if i'm wrong, could please give me some insight ?
Hi Sid,
thanks for the excellent question! You're right, it wouldn't be extremely common for customers to share information about their income if asked directly. However, there are public datasets which do include citizens income, of course the data is masked and anonymized. In reality, nowadays vendors will be most likely to infer your salary or willingness to spend a certain amount on a product based on your history of previous purchases. What's more, they'll also likely know the types of products you'd be willing to buy. For example, if you've made a purchase for high end or luxury cosmetics, chances are you'll be willing to spend or splurge on an expensive perfume. So a brand selling perfumes might target you with customized ads - of course this is all done online.
To summarize though having the exact income figure might be rare, having some general knowledge on the customers income is common in customer analytics, and what's more it's easily obtained in an online setting.
Hope this helps!
Best,
365 Eli