Why Consumers Want More Personalization
According to Salesforce, one-third of consumers report that being offered products that aren’t relevant to them is a top frustration. That makes sense: Consumers want personalization, and they’ll go, or stay, where they can get it. In fact, two-thirds of consumers say they’ll remain loyal to a company if it offers a personalized experience.
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To date, however, most retailers haven’t capitalized on this. In a survey of more than 100 brands and retailers, only 20 percent report customizing product recommendations based on a customer’s purchase history. That poses a problem. According to McKinsey, consumers don’t just want personalization, they expect it: 67 percent cite relevant product recommendations as an important personalization action when making a first-time purchase. A lack of recommendations can foster a lack of loyalty, with 3 in 4 consumers getting frustrated when they don’t find personalization from a brand.