According to a recent report by Klarna and Visualsoft, personalization remains an essential factor in attracting online customers. The report, titled ‘Get.Set.Grow’, surveyed 200 UK retailers and revealed that 90% of them have implemented some form of personalization strategy. However, the report also highlights a significant challenge for many businesses – the lack of necessary technology to track customer preferences and behaviors seamlessly and automatically.
Among the retailers that have implemented personalization strategies, 44% are already recommending products based on individual customer profiles, while 36% are personalizing the product search functionality on their websites. This emphasis on personalization goes beyond mainstream consumers and also caters to diverse customer groups with different needs and shopping behaviors.
Data-driven dynamic content is also prevalent in the retail industry, with 37% of retailers actively targeting and influencing online browsers. Artificial intelligence (AI) plays a crucial role in this process, as 35% of retailers use AI to identify customer preferences and trends. Additionally, marketing automation flows (31%) are utilized to transform these insights into effective communications and campaigns.
Furthermore, the report highlights that 34% of retailers now recognize the importance of obtaining a single view of the customer through technology. This unified view is essential for delivering personalized experiences seamlessly across different channels. According to David Duke, the digital director at Visualsoft, technology plays a critical role in enabling personalized experiences. He emphasizes the importance of collecting accurate customer data and using it at crucial moments in the shopper journey.
To maximize the value of personalization strategies, Duke advises retailers to prioritize customer focus. By aligning customer-facing options closely with audience behaviors and needs, retailers can ensure that they get the most out of their investments in personalization.
In conclusion, this report underscores the significance of personalization in the retail industry. With a majority of retailers implementing personalization strategies, it is evident that personalized experiences are key to attracting and retaining online customers. By leveraging technology and collecting accurate customer data, retailers can create seamless and tailored experiences that cater to the unique preferences and behaviors of their customers.
Useful links:
– Klarna’s website
– Visualsoft’s website
