Thirty-five percent of shoppers feel today’s brands do not care enough about personalising their shopping experiences. However, when retailers do invest in personalisation it pays.
This is according to a Total Economic Impact (TEI) study conducted by Forrester Consulting on behalf of Episerver, the company transforming digital experiences.
Bluegrass Digital, an Episerver Solution Partner and a digital transformation specialist, points to the study that found that Episerver Digital Experience Cloud’s AI-powered personalisation produces, on average, 5% incremental conversion improvement and 5,5% incremental basket size improvement, amounting to over 10% possible revenue uplift from personalisation alone.
On the whole, the study concluded that customers using Episerver Digital Experience Cloud, see a 443 percent return on investment (ROI) in three years.
Nick Durrant, Bluegrass Digital CEO, asks: “Is your company losing money because it is ignoring what online consumer behaviour really means?
“Many companies are too focused on counting conversions instead of understanding why browsers became buyers, and what happened to the majority who did not.”
Durrant says, as consumers gather information about products and services, companies have multiple opportunities to engage with them. “Through experience-driven commerce, companies can gain their trust, create connections and impress them by truly responding to their online consumer behaviour.”