Consumers want and expect e-tailers to provide personalized shopping experiences and make product recommendations based on shopping behavior, according to a recent MyBuys/e-tailing survey.
The study also found that online merchants are not living up to consumer expectations and have not made the investment to create personalized product recommendations.
Some interesting findings include:
- Three out of four consumers are willing to provide some meaningful amount of personal information in exchange for a more personalized, relevant shopping experience.
- 77% of consumers say they have made additional purchases after encountering personalized product recommendations online.
- 36% of consumers are more loyal to online merchants who offer personalized shopping experiences.
- 41% of online merchants say personalization is an upcoming initiative.
The power of personalization sets the few sites that offer it apart from the thousands of others who are behind the times. Consumers have high expectations and it is the responsibility of the seller to try and reach the high bar consumers set.