Personalization in the Retail Industry

Personalization in the Retail Industry

Summary

This reports provides an overview of Key retail personalization trends, Recommendations, Areas of application, Marketing strategy & Customer engagement

Scope

  • Retailers leverage customer data to tap into personalization trend
  • Demand for personalisation through sustainability is rising, retailers must embrace the change
  • Retailers are redesigning strategies to increase basket value and frequency of purchases
  • Retailers are offering DIY and personal stylists to improve the customer shopping experience
  • Retailers approach customers through targeted and personalized marketing practices
  • Retailers are investing in technology to provide a personalized shopping experience
  • Rewards points benefits and free personalised delivery services attract customers to shop more
Reasons to buy
  • Personalization is about delivering a unique customized brand experience based on understanding the customer’s needs and is at the forefront of retailers’ focus to combat competition and drive growth.
  • Over the last decade, consumer expectations regarding personalization have changed. More often shoppers are looking to retailers to provide not only a personalized service but also a tailor-made product to best appeal to them.
  • Retailers, and indeed, brands must be quick to adjust their models to facilitate this trend. This shift in attitude represents an opportunity for retailers attaining valuable consumer data and customer loyalty.
  • In line with this, retailers are extensively using this strategy to attract buyers and gain customer loyalty.


Overview
Key retail personalization trends
Recommendation
Areas of application
Customer engagement
Marketing strategy
Technology
In store shopping
Loyalty Programs

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