Today’s consumers want a meaningful experience when they shop — that moment when a consumer connects with a brand. But there’s a gap between what consumers want and what retailers deliver. Companies that are closing this gap are dominating the competition.
Vice Chairman, Ogilvy Group, United Kingdom
Consumers are drawn to shopping experiences that are personal, and
appeal to their emotions to create meaningful connections in their lives.
Personalized retail is still evolving, and companies are having a
hard time keeping up. This is the major cause of division
between retailer and consumer.
Having enough data
Fifteen percent say their organization effectively processes data.
Thirteen percent agree that stakeholders find the delivered information useful.
Eighteen percent say users are well-provided with tools to analyze data.
While there are many companies that fall behind, some retailers are seeing
the benefits from creating experiences that stand out.
Seventy-three percent increase in visitor engagement.
Fifty-three percent increase in conversion rates.
Forty-five percent increase in customer acquisition.
Thirty-four percent increase in ecommerce revenue.