Personalization key to retaining valuable clientele: Boston Retail Partners

Luxury Daily – Personalizing consumers’ retail experiences can lead to loyalty and increased spending, according to a new report from Boston Retail Partners.

Today consumers expect more individualized communications and interactions with retailers, with 59 percent saying that personalization impacts their purchasing decisions. Identifying and appealing to shoppers with relevant offers or communications can help to establish a relationship between consumer and brand.

“While many retailers think of Amazon as the enemy, they do many things very well that are worth emulating: offering personalized online experiences, efficient delivery times, reasonable or free shipping for preferred members and an easy checkout process,” said Perry Kramer, senior vice president and practice lead at Boston Retail Partners, Boston. “Amazon has made personalization mandatory for most retailers because they have elevated consumers’ expectation for most shopping experiences.”

“Creating a personalized shopping experience is most critical for the luxury retail segment, as it typically has the longest one-on-one customer engagement model and customers expect the highest level of service,” Boston Retail Partners’ Mr. Kramer said. “Successfully engaging with customers on a personal level requires retailers to identify the customer early in the process at any touchpoint, which initiates dialogue and sets the foundation for relationship building and personalized experiences based on customer context.

“Customer context is the interrelated factors of customer insights and environmental conditions that make the shopping experience relevant,” he said. “It enables retailers to personalize the shopping experience based on customer preferences, purchase history, their closet, their most recent online browsing history, time of day, weather and their physical location – all based on real-time information, personalized to create a bond with customers and encourage customer loyalty.

Read the full article: Personalization key to retaining valuable clientele: Boston Retail Partners

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