Top 100 Retailers Leave Money on the Table
The stats are scary: 85 percent of retailers show the same homepage to new and returning visitors; 83 percent of retail mobile sites do not leverage any previous shopping behavior information to personalize the user experience; and 74 percent of the top 100 sites have no memory of past products browsed by users during previous visits, which forces shoppers to start the entire discovery process over again.
Simply put, retailers are leaving money on the table, according to research published on Wednesday by Retail System Research (RSR). Conducted with Reflektion, the report reveals benchmarks for marketers.
Implementing personalization tactics like the ones referenced above would greatly improve retailers' digital sales, RSR says. RSR sent eMarketing + Commerce tips for how online retailers can leverage personalization to drive sales:
- Bake the whole pie. If you try to do personalization in a piecemeal approach, you get piecemeal results. Many retailers try one or two product recommendation widgets and think they're personalizing their site. To really understand the impact of personalization, you need to embed it across the shopper experience — in site search, on category pages, homepages and product pages. You also have to make sure you implement it across devices. (It's even more important for the small screens/limited real estate on smartphones.)
- Personas aren't people. Don't settle for segmentation as a substitute for true personalization. Today's digital consumers are well-trained to know when they're being averaged down to a group or stereotype, instead of being positively engaged as individuals. Make your goal to individualize the experience instead of putting shoppers into overly large buckets.
- Pay attention when customers tell you what they want. Make sure you remember the preferences and interests of shoppers between sessions. With 97 percent of visitors on retail sites not converting, tons of shoppers are visiting your site more than once to browse. Make sure to leverage visitors' previous shopping experiences to inform what you should present when they return. Get them back into engaging with products quickly.