Personalization in the Retail Industry

Personalization in the Retail Industry

  • February 2020 •
  • 28 pages •
  • Report ID: 5876150 •
  • Format: PDF
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.
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