The Prioritization of Personalization

In a world of curated feeds and tailored recommendations (see: Facebook and Netflix), today’s consumers have come to expect that all of their experiences will cater directly to their interests. Shopping is no exception, so retailers heading towards an uncertain future are relying on personalization techniques to woo (and retain) their customers.

In fact, 70 percent of retailers cited personalization of the customer experience as a leading priority for 2017, according to Boston Retail Partners’ latest POS/Customer Engagement survey. It even ranked higher than other timely initiatives like responsive mobile features and in-store technology.

When it comes to personalization, where should a brand begin?

What works for each brand will be different, but they all need to start with the basics: the primal experience of shopping, be it online or off.

“Retailers really must go back to understanding the impact of the simplest things – like who I am, how I like to shop [and] what I’m most passionate about,” said Chris Paradysz, the founder and chief executive officer of online marketing agency PMX. “Starting with that initial understanding of who a person is is crucial, and then you ladder your way up to more custom experiences, where you have the opportunity to surprise and delight.”

Ultimately, they need to “show the right products to the right people at the right time,” said Stephan Schambach, the founder and chief executive officer of the mobile retail platform NewStore. That means directing consumers to the products best suited to them, based on factors like gender, age and geographic location. “There are millions upon millions of products in the world and billions of possible buyers — matching the supply and demand is the ultimate quest,” he said.

Read the full story here in Glossy

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