Announcing the 2019 eCommerce Personalization Report
As consumer choice expands and attention spans shrink, the imperative to personalize the online shopping experience becomes even more important. It’s important for leading brands and retailers to understand the key trends in eCommerce personalization space and position their businesses for success.
Recognizing the need to continually monitor trends in this area, Reflektion recently partnered with WBR Insights, a leading retail market research firm, to conduct an in-depth survey into eCommerce personalization to understand the key challenges and trends occurring in the market as digital commerce practitioners evaluated and applied personalization technologies to their business.
The result was The 2019 Reflektion eCommerce Personalization Report, which captures market insights from 150 marketing and digital commerce leaders across North America. These professionals are tuned into retail technology and typically have either already implemented eCommerce personalization solutions or are actively considering them for their organizations. The majority of survey respondents were experienced managers and above with Manager/Director level at 82%, VP/SVP level at 13%, and C-level executives at 3% of respondents.
Within the survey, each of the major retail industry sub-segments were well represented, with an almost even spread of respondents such segments as Apparel & Accessories, Home & Garden, Footwear, and many others. This broad participation across the retail industry confirms participants uniform interest in eCommerce personalization.
Overall, we found that eCommerce leaders now consider personalization a critical cornerstone of their business strategy to build and enhance customer relationships. In fact, 94% of respondents agree eCommerce personalization is important for driving engagement among customers. Translating this into their business planning, an overwhelming 63% of marketers and eCommerce leaders affirmed personalization as a top priority within their current technology initiatives.
eCommerce leaders are also placing importance on the ability to effectively reach customers through multiple channels, making strategic data-driven decisions through the use of analytics, and improving overall data quality to improve their success. These recent findings clearly demonstrate that eCommerce leaders are investing broadly and strategically on a number of interrelated initiatives that increase customer engagement, improve site conversions, and drive the overall business.
Most eCommerce and marketing leaders have already taken the first step in personalizing product recommendations on their sites with first-generation solutions. Over 60% plan to continue making investments in improving the personalization of product recommendations with next-gen solutions over the next 12-18 months. In fact, the next three most important areas of technology investment in the coming 12-18 months will be personalizing product search, content personalization of web and email, as well as category or landing pages. At Reflektion, we think it’s a big miss to not personalize both Search and Recommendations because shoppers clicking on recommendations after using search convert 3.7x more than those who only personalize search!
As more areas of personalization receive a material level of investment, the importance of one platform as a driver of unified eCommerce personalization experience across the buyer journey is gaining momentum. In the survey, almost 80% of the respondents confirm the value of one unified platform for eCommerce personalization. Specifically, the survey respondents believe one platform for eCommerce personalization would help them develop greater customer focus, develop greater customer focus, and drive higher business growth.
The writing on the wall is clear — eCommerce leaders want to connect the customer journey through search, recommendations, email, content personalization, and pages. When reflecting on the complete results of this year’s 2019 eCommerce Personalization survey, the findings reinforce the strong value proposition of Reflektion’s customer engagement platform which provides 1:1 eCommerce personalization at scale and in real-time across marketing channels – web, mobile, email, search and in-store.