Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

New Data: Personalization in Shopping

2,004 views

Published on

Personalized experiences, powered by artificial intelligence, are the present and future of shopping – and far from a pipe dream. AI is already helping retailers anticipate their shoppers’ next moves, and intelligent experiences are quickly separating the innovators from the innovation-laggards.

Thanks to expanding product catalogs, increasingly multitasking mobile shoppers, and fierce competition, the need to deliver personalized content and intelligent recommendations couldn’t be more urgent. Retailers need to present shoppers with exactly what they want (maybe even before they know they want it) efficiently and in real time.

Our new Personalization in Shopping report looks at the impact of product recommendations across critical metrics like revenue, conversion rate, average order value (AOV), and time spent on-site. The data analyzes the shopping activity of more than 150 million shoppers and 250 million visits to ecommerce sites, encompassing $550 million worth of orders and 320 million clicks. Download the full research for many more stats and charts.

Published in: Retail
  • Hey guys! Who wants to chat with me? More photos with me here 👉 http://www.bit.ly/katekoxx
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

New Data: Personalization in Shopping

  1. 1. How AI is impacting retail and revenue, 
 with data from 150 million shoppers New Data: 
 Personalization in Shopping
  2. 2. Today, the shopping journey is complex. Mobile Devices Pick Up In-Store Free Shipping 1-Hour Delivery Ratings and Reviews Carts and Baskets Promo Codes
  3. 3. AI is already everywhere.
  4. 4. The best way to compete: personalize. + = Personalized Content Greater Intelligence Over Time Revenue
  5. 5. Here’s the proof. We analyzed data from … 150 million shoppers 250 million visits $550 million worth of orders 320 million shopper clicks to discover the impact of personalization.
  6. 6. Click here to 
 get the full report now!
  7. 7. The data: our key research findings. Personalization has an outsized impact on conversion rates and shopper spending. Shoppers that engage with recommendations are among your most valuable shoppers. 1 2
  8. 8. Key finding #1: Personalization has an outsized impact on conversion rates and shopper spending.
  9. 9. A small share of website visits 
 include a recommendation click. You may also like: 7%Visits SHOP NOW
  10. 10. … But those visits with recommendation clicks are powerful. 7%Visits 24% Orders 26% Revenue You may also like:
  11. 11. The recommendation impact is strong across devices. 4.6x Higher 4.3x Higher 4.3x Higher 4.1x Higher 7% 7% 7% 9% 24% 23% 25% 30% 26% 25% 26% 33% No Rec Click Rec Click $117 $128 $126 $139 $101 $109 $117 $136 Conversion Rate Visits Orders Revenue AOV Overall Computer Mobile Tablet Other
  12. 12. Combine personalization with search 
 for even greater results. Shoppers that use search and click a recommendation convert 
 3.7x more often than those who only search. + +4.2x more 
 on mobile
  13. 13. Key finding #2: Shoppers that engage with recommendations are among your most valuable shoppers.
  14. 14. Personalization-clicking shoppers spend 
 more time with your site. Time on Site: 
 Shoppers that Didn't Click Recommendations 12.9 min 2.9m in You may also like: Time on Site: 
 Shoppers that Clicked Recommendations
  15. 15. Once on-site, these shoppers are
 more engaged and buy more per visit. Shoppers that click (or tap) a recommendation provide: 4.5x Higher Basket Rates 5X 4.8x More Product Views 
 Per Visit 5x Higher Per-Visit Spend
  16. 16. And they don’t stop there. Shoppers Making a Return Visit 0% 10% 19% 29% 38% Click No Click 19% 37% Shoppers that engage with a recommendation are 2x more likely to return to a retailer's site.Recommendation Click No Recommendation Click
  17. 17. Shoppers buy what’s recommended to them. 0% 15% 30% 45% 60% Share of orders from recommendation-clickers that include a recommended item Share of products bought by recommendation-clickers that were recommended to them 27% 52%
  18. 18. 3 Ways to Get the Benefits
 of Personalization
  19. 19. 1. To increase the 7%, infuse personalization everywhere: emails, site search, display ads, and beyond.
  20. 20. 2. Leverage AI for tactical execution 
 so you can focus on strategy.
  21. 21. 3. Test and optimize — with clean data.
  22. 22. Get the complete Personalization in Shopping report now. Personalization in Shopping sforce.co/PersonalizeShop

×