Only 13% Of Online Retailers Provide Shoppers With A Completely Personalized Experience Reveals A Study By Netcore Cloud
Netcore Cloud is a globally recognized marketing technology SaaS company offering unified customer views, orchestrating omnichannel communication journeys, personalizing the apps and websites, optimizing user experience, real-time reporting, and actionable analytics for over the past 23 years. Netcore Cloud collaborated with Wakefield Research, a leading, independent quantitative, qualitative, and hybrid market research and market intelligence provider, to create a detailed E-commerce Personalization Benchmark Report 2021 and beyond.
The finding of this research report is based on a study conducted by Netcore & Wakefield Research across 200 executives from US e-commerce retailers & 600 US shoppers between February & March 2021. The report offers profound insight into the personalization goals and challenges of online retailers.
Speaking about the report, Kalpit Jain – Group CEO, said, “E-commerce brands in the US are increasingly focusing on Personalization as more and more shoppers lookout for a personalized customer experience while shopping on e-commerce platforms. However, the concept of Personalization can have a very different meaning to retailers and customers alike, which is resulting in varying levels of customized experiences across the e-commerce landscape.”
“There is a definitive need for a report that would help leading e-commerce brands make informed decisions,” he added.
This report (“E-commerce Personalization Benchmark Report 2021”) answers many questions on the state of Personalization in e-commerce:
1. What is the cost of falling behind that e-commerce brands are experiencing when their personalization endeavors do not match customer expectations?
2. What benchmarks should e-commerce brands pursue on their personalization efforts?
3. What is the ROI from investments in Personalization?
4. What rewards are e-commerce brands reaping from their personalization efforts?
5. What are the hottest innovation trends in e-commerce personalization?
And many more.
Timothy Moran, Vice President, Enterprise Sales at Netcore Cloud, said, “The E-commerce Personalization Benchmark Report 2021 findings show that though 91% of shoppers would abandon an online retailer for a poor shopping experience, a majority of e-commerce brands are yet to catch up with shopper’s expectations. It is our steadfast effort to bring the best practices and key facts that will help e-commerce majors create a lasting impact on their buyers.”
The report defines average conversion rates in the e-commerce industry. It highlights the impact of Personalization on other key metrics like ROI, average revenue per user, average order value, etc. It also reveals how the 70% of users abandoning the cart as a stat is not valid anymore and reveals a new norm.
Further, the report quantifies the cost of falling behind for e-commerce brands when shoppers do not find the Personalization on e-commerce platforms adequate. It highlights the top challenges that online retailers face in their personalization efforts. The 36-page E-commerce Personalization Benchmark Report 2021 reveals critical insights on Personalization that every US e-commerce brand can use to benchmark their personalization efforts as they try to match the shopper’s expectations.
About Netcore Cloud: Netcore Cloud is a globally recognized marketing technology SaaS company. It offers full-stack Martech products that help product and growth marketers deliver AI-powered intelligent customer experiences across all touchpoints of the user journey. The platform is an all-in-one solution for building unified customer views, orchestrating omnichannel communication journeys, personalizing the apps and websites, optimizing user experience, real-time reporting, and actionable analytics. All the products are designed to scale, with a focus on ROI. Netcore Cloud delivers 12+ billion emails and tracks 100+ billion marketing events every month for the world’s top marketers.
Netcore Cloud serves over 5000 clients spread across 18 countries. Industry-leading brands like Canon, Disney+ Hotstar, Jockey, Puma, The Body Shop, Jack & Jones, Tommy Hilfiger, Gas Jeans, Tobi, Standard Chartered, Pizza Hut, and McDonald’s trust Netcore Cloud to power their customer acquisition, engagement, and retention goals.