Retail Personalization Comes Up Short in Two Studies

Email Marketing Daily – Almost 90% of consumers want a personalized and consistent experience in all channels. But only 59% of retailers are focused on giving it to them, according to The Changing Customer Experience, a study by BRP.

In addition, 68% of customers would choose stores that provide personalized promotions/discounts, according to a consumer survey by BRP. Yet 45% of retailers are now working on improving personalization in all channels.

Of the companies polled, 50% use transaction data and say it works well (versus 43% who use it but feel it needs improvement), and 5% don’t use it.

However, only 20% use online shopping information such as unique visits and are happy with the results. Another 41% utilize it but say they need improvement.

The report shows that 68% of marketers need to improve their ability to meet customer expectations, using insights on those shoppers.

Personalization also comes up short in How Retail Marketers Use Customer-Focused ID Management to Increase Satisfaction and Profitability, a report sponsored by  eTail, WBR Insights and OneMarket.

Of the 100 retail professionals surveyed, 38% say their firms struggle to understand their customers because their technologies do not integrate first-party data.

Only 28% use ID management technology to improve personalization and consider it a core part of their business. But 30% say it’s a development part of their business.

Of those polled, 43% are onboarding offline CRM data as part of their ID management. But of those that are, only 40% are using it to send triggered emails.

And 51% each are using the data for customer insights and/or predictive modeling and website personalization. And 47% are utilizing it to get a deeper understanding of their customers.

Finally, only 5% say they can identify between 75% and 100% of their website visitors, while 25% say they can identify 51% to 75%.

Read the full article: Retail Personalization Comes Up Short in Two Studies

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