Personalization must be the core pillar of the entire shopping process
Recently, the Bazaarvoice study showed that 50% of consumers said that personalization is very useful and improves the shopping experience. Online, personalization means product recommendation and customized homepage; offline, personalization can be digital fitting room, product customization, but also the clerk who has the consumer’s previous purchase record and even knows the consumer.
Successful personalization is based on the right data, and while many retailers are investing in this area, the challenge remains. The same study found that 81% of brands and retailers said that in the next 12 to 18 months, their focus is on using consumer data and machine learning to provide personalized recommendations on the site.
In contrast, only 3% of brands and retailers say they are doing well in acquiring and using third-party data. In addition, 58% of respondents said they were behind in forming a single consumer view based on all touchpoint data. To achieve effective personalization, retailers should integrate three different types of data: online interactive data, demographic data, and consumer purchase journey data to look at consumers from a holistic perspective to power a customized experience.
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