Why Retailers Must Personalize or Perish

Increasingly it no longer matters to consumers whether they are online or in-store: they expect a combination of entertainment, convenience and increasingly so, personalization. According to Accenture Interactive’s new Personalization Pulse Check, a survey among more than 1,500 consumers aged 18 to 60 across the United States and the United Kingdom, consumers have a positive attitude towards personalized offerings and services. This includes:

Being recognized – more than one in two consumers (56%) are more likely to shop at a retailer in store or online that recognizes them by name.
Being offered relevant recommendations – three in five (58%) are more likely to make a purchase when a retailer recommends options for them based on their past purchases or preferences.
• Being remembered – two in three (65%) are more likely to shop at a retailer in store or online that knows their purchase history.

A full 75% of consumers are more likely to buy from retailers that provide any of these three services.

Consumers are searching more and more for personalized shopping experiences they can really connect with, so 2017 should see retailers testing new ways to appeal to this desire.

These retailers are leading the way in personalized shopping experiences:

Sephora enables customers to create their own profiles including their custom skin tone. Product recommendations are then tailored to match their preferences. In their store, customers can use iPads to access their details and find suitable products, while staff can use their profile information to make recommendations and give advice. Sephora’s personalization efforts are not just confined to online; they actively embrace customizing the in-store shopping experience as well.

Through the use of an app ecosystem, Under Armour provides consumers with a 360 view of wellness (training, nutrition, etc). They can create customized personas and deliver personalized information and insights accordingly, such as behavioral and performance

Rebecca Minkoff blends personalization with in-store engagement, including (hooray!) custom drink orders. To place a drink order, shoppers must enter a phone number, which is then used during their visit as a way for store associates to communicate fitting room status, as well as let shoppers save a list of items they tried on for later. All customer behaviors — from walking around the store to trying on items — are captured in customer profiles and logged for future interactions and recommendations.

Tesla is re-inventing the way we shop for cars. Rather than set up a giant showroom off the highway, Tesla stores are more of a retail kiosk — housing few cars and set in areas with high foot traffic, not to mention a no pressure’ sales environment. With the Tesla configurator,” potential buyers can create, modify, and save their car designs at the Tesla store as well as on their PC or tablet.

Visit the iQmetrix booth #4323 at NRF (Jan 15-17) or book a tour to check out our Tesla VR experience.