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A research study of 200 retailers and 600 consumers’
Ecommerce Personalization
Benchmark Report 2021
Content
Introduction.................................................................................. 3
Key Findings
Consumer Expectations vs. Retail Experience ...................... 8
Ecommerce Metrics & Benchmarks ......................................... 9
Section I: Personalization challenges
The Cost Of Falling Behind........................................................11
Data Dearth...................................................................................12
Personalization Challenges.......................................................13
Data Privacy Issues......................................................................15
Section II: Rewards to Reap
Cart Abandonment Rate............................................................17
Conversion Rates.........................................................................18
Average Page Views per Customer.........................................19
Increased Spending ....................................................................20
Customer Retention....................................................................21
Section III: Retail Category Findings
Conversion Rates.........................................................................23
Cart Abandonment Rates..........................................................24
90-day Customer Retention Rate............................................25
Average Order Value ..................................................................26
Revenue per User........................................................................27
Product-View to Add-to-Cart rate............................................28
Section IV: Trends & Innovations
Innovation Areas..........................................................................30
Top 5 Innovation Trends............................................................32
Conclusion ...................................................................................37
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
Introduction
An overwhelming 91% of shoppers would
abandon an online retailer over a poor shopping
experience. Many say it is crucial for retailers to
personalize the experience to fit their preferences.
abandon an online retailer
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
91%
4
want more personalized CX
More than 3 in 4 shoppers want a more
personalized customer experience
A surprising 41% of retail executives say their
ecommerce platform is somewhat personalized at
best— while just 13% of online retailers provide
shoppers with a completely personalized experience.
77%
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
5
71%
saw ROI of at least 4X
7 in 10 retailers who invested in personalizing CX
have seen an ROI of at least 4X
This coincides with improvements across retailers’ most
important benchmarks: conversion rates increase by
more than 40%, cart abandonment rate falls below 50%
and revenue per user jumps by more than 10% for many
retailers, highlighting the benefits of transforming data
into actionable items that make the most of every click.
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
6
Key Findings
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
Consumer Expectations vs. Retail Experience
Personalization helps retailers generate more page views, resulting in more purchases
Shoppers view 8
products on average
before making a
purchase…
…but personalization
helps most (75%)
retailers achieve at
least 10 page views
per user…
…ensuring that
shoppers see more
than enough relevant
products to make a
purchase.
8 10
8
45% 46% 10% 10%
Personalization
increases the
conversion rate by
45% for retailers
on average
Most retailers previously
had cart abandonment
rates of 60% or more,
but after personalization
the average rate drops
to 46% for all retailers
3 in 5 (60%)
retailers are seeing
average order
value jump by 10%
or more post-
personalization
2 in 5 (41%) retailers
are seeing revenue
per user growth of
10% or more after
personalization
Conversion
Rate
Cart Abandonment
Rate
Average
Order Value
Average Revenue
Per User
Ecommerce Metrics & Benchmarks
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
9
Section I
Personalization challenges
While 62% of retailers
claim to have improved
their personalized
shopping experience over
the last year, a worrying
45% of shoppers have not
seen any improvement
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
The Cost of Falling Behind
Personalized touchpoints are offered by fewer than half of retailers:
Personalized emails
Search results
Product display
Discounts
Home Page
49%
48%
47%
45%
38%
11
Half of retailers say that
gathering customer data 
presents challenges to 
personalization. This results
in significant shares of
retailers not using various
types of important customer
data such as cross-device
and offline data (51%),
real-time behavioral data
(49%), cookie-based
historical data (39%) or
users’ location, device and
profile data (32%).
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
Data Dearth
A slim majority of retailers are using customers’ real-time behavioral
data for personalization
51%
62% 62%
56% 61%
All Retailers
Jewelry Groceries
Cosmetics Fashion/Apparel
12
IT Bandwidth
Nearly all retailers (96%) have encountered some challenges to their personalization efforts,
indicating an increasing need to rely on trusted third parties to customize the shopping experience.
Many retailers lack
the IT bandwidth for
personalization
43%
Misalignment
Difficulties aligning
various internal
teams are common
40%
Identifying A Partner
Retailers also struggle
to identify the right
solution partner
41%
Inadequate Tools
More than a third lack
adequate tools for
personalization
36%
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
Personalization Challenges
13
netcorecloud.com
For shoppers, meaningful personalization means sticking with a retailer—but when
implemented poorly, it will drive them away.
50% 24% 36%
Half of retailers have
at best somewhat
accurate data on
shoppers’
preferences
1 in 4 shoppers are
more likely to
abandon their cart if
offers are not relevant
to them
1 in 3 shoppers are
more likely to
unsubscribe from a
mailing list if emails
aren’t relevant
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
14
netcorecloud.com
35%
More than a third of shoppers would be
more willing to share data if they were
granted more transparency about how
retailers will use the information
Privacy is Paramount: many customers want to know what will be done with their information
Data Privacy Issues
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
15
Section II
Rewards to Reap
is the average cart abandonment rate
for all retailers after personalization
Most retailers (63%) could not bring
cart abandonment rates below 60%
before personalization
Most shoppers (58%) believe that custom touchpoints can help them find items quicker, and 28% are
more likely to purchase a product they did not initially intend to buy. Another 26% say a personalized
experience can drive them to be more likely to buy something more expensive than originally planned.
Nearly 3 in 10 shoppers (29%) are less likely to abandon their shopping cart during a
personalized shopping experience, as seen in retailers’ cart abandonment rate metrics:   
60%+ 46%
Return on Investment: Cart Abandonment Rate
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
&
17
netcorecloud.com
Return on Investment: Conversion Rates
is the average conversion
rate after personalization
Retailers saw an
average Conversion
Rate increase of 45%
after investment in
personalization
was the average conversion
rate before personalization
&
Personalization efforts have been well worth retailers’ time: 71% have seen overall returns of at least
4 times their investment in personalization
1.65%
1.14%
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
Among retailers
surveyed
18
netcorecloud.com
Return on Investment: Average Page Views
per Customer
An impressive 37% of those with very personalized platforms achieve 15+ page views per customer.
Moreover, shoppers add more products to their cart at a higher rate. Retailers with highly
personalized platforms see shoppers add 24% of all products viewed to their cart.
But those with little or no personalization see rates of just 19%.
reported 10+ page views per customer
before personalization
reported 10+ page views per customer
after personalization
…51% …75%
&
Among retailers
surveyed
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
19
netcorecloud.com
Return on Investment: Increased Spending
While retailers with personalization are seeing more users make purchases, they are also gaining
significant increases in customer spending. Virtually all see increases in average order value (98%)
and revenue per user (97%).
Average Order Value Average Revenue Per User
Among retailers
surveyed
3 in 5 (60%) retailers are seeing
average order value jump by 10%
or more post-personalization
10%
The average revenue per user before personalization
was $99, but 2 in 5 (41%) of all retailers are seeing
growth of 10% or more after personalization
10%+
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
20
netcorecloud.com
Return on Investment: Customer Retention
Personalizing ecommerce platforms produces benefits for shoppers, who in turn reward retailers.
44% of shoppers say they become more loyal to a retailer that provides personalization.
is the average 90-day customer
retention rate for retailers with a
very personalized platform
is the average 90-day customer
retention rate for retailers with
some or no personalization
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
...21% ...36%
&
Among retailers
surveyed
21
Section III
Retail Category Findings
Retail Category Findings: Conversion Rates
Jewelry Books Cosmetics
Fashion/Apparel Groceries
Marketplace Brand
Pre-personalization
1.20% 1.43% 1.22% 1.29%
1.32% 1.31%
1.04%
Post-personalization
1.78% 1.66% 1.75%
1.78% 1.79%
1.75% 1.50%
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
23
Retail Category Findings: Cart Abandonment
Rates
Personalization has a similarly positive impact on cart abandonment rates across various types of
retailers. Rates below 50% are achieved for marketplaces, brands and those that sell numerous types
of products. 
Jewelry
Post-personalization Cart Abandonment Rate:
Books Cosmetics
Fashion/Apparel Groceries
Marketplace
45% 44% 48%
48% 44%
44% 49%
Brand
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
24
Jewelry
Post-personalization 90-Day Customer Retention Rate:
Books Cosmetics
Fashion/Apparel Groceries
Marketplace Brand
35% 30% 34%
29% 46%
31% 27%
Retail Category Findings: 90-day Customer
Retention Rate
Marketplace retailers and those that sell groceries or jewelry see the strongest 90-day customer
retention rates after personalization investment. 
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
25
Post-personalization Average Order Value gains of at least 10%:
Jewelry Books Cosmetics
Fashion/Apparel Groceries
Marketplace Brand
76% 58% 70%
63% 72%
62% 57%
Retail Category Findings: Average Order Value
The majority of retailers across product categories see improvement in average order value of at least
10%, with higher shares of grocery and jewelry retailers seeing gains.  
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
26
Post-personalization Revenue Per User gains of 10% or more:
Jewelry Books Cosmetics
Fashion/Apparel Groceries
Marketplace Brand
71% 49% 47%
45% 36%
41% 40%
Retail Category Findings: Revenue per User
Nearly all retailers (97%) achieve an increase in revenue per user after personalization investment, with
significant numbers across retailer types achieving growth of at least 10%. 
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
27
Jewelry Books Cosmetics
Fashion/Apparel Groceries
Marketplace Brand
Post-personalization Product-View to Add-to-Cart rate:
23% 18% 24%
20% 24%
20% 22%
Retail Category Findings: Product-View to
Add-to-Cart rate (share of products-viewed which are added to the cart)
The average rate of products viewed that are added to the cart is 22% across all retailers, but some
categories outperform, such as those that sell groceries or cosmetics. 
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
28
Section IV
Trends & Innovations
Retailers need to
understand how
customers shop in
order to make the
most of those visits
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
Innovation Areas
Products are viewed by each customer
before buying, on average
Visits are made to websites before
buying, on average
Nearly 4 in 5 want a shopping
experience made just for them
8
10
77%
30
More than 7 in 10
(71%) shoppers use
the search bar
frequently…
71%
Retailers are taking action
to address customers’
search demands, with
nearly half (48%) offering
personalized search
results…
48%
… and about a quarter
(27%) of those who use
the search bar to shop do
so all the time.
27%
…surpassing the share of
shoppers who are
demanding this at just
over a third (35%).
35%
search always search
personalized
search
want such
a search
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
31
Nearly 3 in 5 retailers
say visual search will
be a focus over the
next five years
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
The top five innovation trends:
#1 - Visual Search
40%
59%
Are waiting
for it
Plan to focus
on it
Shoppers
Retailers
32
A majority of retailers
expect real-time
behavioral data to be
a focus in the coming
years
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
The top five innovation trends:
#2 - Hyper Personalization
21%
56%
Are waiting
for it
Plan to focus
on it
Shoppers
Retailers
33
Two in five retailers
said that gamification
helped them improve
their key ecommerce
metrics
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
The top five innovation trends:
#3 - Gamification
42%
improved their
metrics via
gamification
Retailers
34
More than 2 in 5 retailers
are set to focus on
initiatives that will allow
shoppers to shop from
any smart device using
just their voice
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
The top five innovation trends:
#4 - Touchless Shopping
29%
43%
Are waiting
for it
Plan to focus
on it
Shoppers
Retailers
35
The concept of “try
before you buy” using
interactive technology
will come to the fore by
2026 according to a
third of retailers
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
The top five innovation trends:
#5 - Augmented and Virtual
Reality
27%
34%
Are waiting
for it
Plan to focus
on it
Shoppers
Retailers
36
45% 91%
report no
improvement in
ecommerce CX
would
abandon a
poor CX
Conclusion
Shoppers have made it abundantly clear: they want personalized ecommerce platforms that customize
their experience to make it easier, faster and more accurate—and the benefits will be visible across
retailers’ most important metrics. Otherwise, retailers risk losing customers who are becoming less and
less willing to trudge through cluttered search results and irrelevant information.
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
Retailers
71% 87%
have seen at least
4X ROI on
personalization
could improve
personalization
efforts
Shoppers
37
Conclusion
More than 3 in 4 shoppers (77%) want personalized shopping experiences, starting with search, which
retailers are working to improve. And shoppers are willing to help retailers augment the experience. 
But shoppers alone cannot provide retailers with the help they need. With so many retailers facing an
array of obstacles ranging from a lack of IT bandwidth to inadequate tools, they must act now and
devise a strategy to improve their platform’s personalization, or risk being left behind.
Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
Retailers Shoppers
59% 49%
of retailers will
prioritize visual
search
of retailers say
data is a
challenge
71% 72%
of shoppers
use the
search bar
of shoppers
would share data
for a better CX
38
Netcore is a customer engagement & experience platform that helps B2C brands create amazing digital experiences with a range of products
that help in engagement, retention and conversions.
Netcore over the last 20+ years has enabled thousands of marketers and product managers around the world with its No-Code / Low-Code
products to create a personalized omni-channel experience across website, mobile app & communications channels.
With early investments in AI backed with 3 acquisitions, Netcore has led the way in delivering exceptional 1:1 customer experience—to
reinvent how companies engage with their customers.
To learn more, visit: www.netcorecloud.com
Wakefield Research is a leading, independent provider of quantitative, qualitative, and hybrid market research and market intelligence.
Wakefield Research supports the world’s most prominent brands and agencies, including 50 of the Fortune 100, in 90 countries.
To learn more, visit: www.wakefieldresearch.com
Methodological Notes
This research was conducted by Wakefield Research among 200 U.S. executives from ecommerce retailers and 600 U.S. consumers,
between February 24th and March 10th, 2021, using an email invitation and an online survey. 
The overall margin of error for the Consumer Survey is +/- 4.0 percentage points at the 95% confidence level. The overall margin of
error for the Executive Survey is +/- 6.9 percentage points at the 95% confidence level. Base sizes under 100 are considered small and
associated findings are directional. 
Why Choose Netcore for
Personalization
Our
Promise
10 - 13%
Increase in
Conversions
6 - 9%
Increase in
Add-to-Carts
30 - 60%
Increase in
CTRs
15
Minutes to
integrate
5
Days for going
online
5
Weeks to see
results
Performance Reporting
Measure conversion uplifts
with advanced A/B testing
within 5 weeks of
integration
Personalization beyond home-page
Make shopping easy for your
customers by greeting them with
personalized boutiques and
communications using past data
Patented AI-based model
Algorithms that improve your web
& app conversions by predicting &
sharing right products for each
customer in real-time
Quick integration Quicker results
Taking less than fifteen minutes,
the platform is built to integrate
& scale-up quickly to help you
jump right into business
Our Ambassadors
A W A L M A R T C O M PA N Y
Sky-Rocket your
Conversions with
AI-led Personalization
Product Recommendations That Deliver
Netcore Cloud Inc.
182C-102 500 7th Avenue, New York, NY 10018
engage@netcorecloud.com
,
www.netcorecloud.com

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[Netcore] Ecommerce personalization benchmark report 2021

  • 1. A research study of 200 retailers and 600 consumers’ Ecommerce Personalization Benchmark Report 2021
  • 2. Content Introduction.................................................................................. 3 Key Findings Consumer Expectations vs. Retail Experience ...................... 8 Ecommerce Metrics & Benchmarks ......................................... 9 Section I: Personalization challenges The Cost Of Falling Behind........................................................11 Data Dearth...................................................................................12 Personalization Challenges.......................................................13 Data Privacy Issues......................................................................15 Section II: Rewards to Reap Cart Abandonment Rate............................................................17 Conversion Rates.........................................................................18 Average Page Views per Customer.........................................19 Increased Spending ....................................................................20 Customer Retention....................................................................21 Section III: Retail Category Findings Conversion Rates.........................................................................23 Cart Abandonment Rates..........................................................24 90-day Customer Retention Rate............................................25 Average Order Value ..................................................................26 Revenue per User........................................................................27 Product-View to Add-to-Cart rate............................................28 Section IV: Trends & Innovations Innovation Areas..........................................................................30 Top 5 Innovation Trends............................................................32 Conclusion ...................................................................................37 Ecommerce Personalization Benchmark Report 2021 netcorecloud.com
  • 4. An overwhelming 91% of shoppers would abandon an online retailer over a poor shopping experience. Many say it is crucial for retailers to personalize the experience to fit their preferences. abandon an online retailer Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 91% 4
  • 5. want more personalized CX More than 3 in 4 shoppers want a more personalized customer experience A surprising 41% of retail executives say their ecommerce platform is somewhat personalized at best— while just 13% of online retailers provide shoppers with a completely personalized experience. 77% Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 5
  • 6. 71% saw ROI of at least 4X 7 in 10 retailers who invested in personalizing CX have seen an ROI of at least 4X This coincides with improvements across retailers’ most important benchmarks: conversion rates increase by more than 40%, cart abandonment rate falls below 50% and revenue per user jumps by more than 10% for many retailers, highlighting the benefits of transforming data into actionable items that make the most of every click. Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 6
  • 8. Ecommerce Personalization Benchmark Report 2021 netcorecloud.com Consumer Expectations vs. Retail Experience Personalization helps retailers generate more page views, resulting in more purchases Shoppers view 8 products on average before making a purchase… …but personalization helps most (75%) retailers achieve at least 10 page views per user… …ensuring that shoppers see more than enough relevant products to make a purchase. 8 10 8
  • 9. 45% 46% 10% 10% Personalization increases the conversion rate by 45% for retailers on average Most retailers previously had cart abandonment rates of 60% or more, but after personalization the average rate drops to 46% for all retailers 3 in 5 (60%) retailers are seeing average order value jump by 10% or more post- personalization 2 in 5 (41%) retailers are seeing revenue per user growth of 10% or more after personalization Conversion Rate Cart Abandonment Rate Average Order Value Average Revenue Per User Ecommerce Metrics & Benchmarks Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 9
  • 11. While 62% of retailers claim to have improved their personalized shopping experience over the last year, a worrying 45% of shoppers have not seen any improvement Ecommerce Personalization Benchmark Report 2021 netcorecloud.com The Cost of Falling Behind Personalized touchpoints are offered by fewer than half of retailers: Personalized emails Search results Product display Discounts Home Page 49% 48% 47% 45% 38% 11
  • 12. Half of retailers say that gathering customer data  presents challenges to  personalization. This results in significant shares of retailers not using various types of important customer data such as cross-device and offline data (51%), real-time behavioral data (49%), cookie-based historical data (39%) or users’ location, device and profile data (32%). Ecommerce Personalization Benchmark Report 2021 netcorecloud.com Data Dearth A slim majority of retailers are using customers’ real-time behavioral data for personalization 51% 62% 62% 56% 61% All Retailers Jewelry Groceries Cosmetics Fashion/Apparel 12
  • 13. IT Bandwidth Nearly all retailers (96%) have encountered some challenges to their personalization efforts, indicating an increasing need to rely on trusted third parties to customize the shopping experience. Many retailers lack the IT bandwidth for personalization 43% Misalignment Difficulties aligning various internal teams are common 40% Identifying A Partner Retailers also struggle to identify the right solution partner 41% Inadequate Tools More than a third lack adequate tools for personalization 36% Ecommerce Personalization Benchmark Report 2021 netcorecloud.com Personalization Challenges 13
  • 14. netcorecloud.com For shoppers, meaningful personalization means sticking with a retailer—but when implemented poorly, it will drive them away. 50% 24% 36% Half of retailers have at best somewhat accurate data on shoppers’ preferences 1 in 4 shoppers are more likely to abandon their cart if offers are not relevant to them 1 in 3 shoppers are more likely to unsubscribe from a mailing list if emails aren’t relevant Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 14
  • 15. netcorecloud.com 35% More than a third of shoppers would be more willing to share data if they were granted more transparency about how retailers will use the information Privacy is Paramount: many customers want to know what will be done with their information Data Privacy Issues Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 15
  • 17. is the average cart abandonment rate for all retailers after personalization Most retailers (63%) could not bring cart abandonment rates below 60% before personalization Most shoppers (58%) believe that custom touchpoints can help them find items quicker, and 28% are more likely to purchase a product they did not initially intend to buy. Another 26% say a personalized experience can drive them to be more likely to buy something more expensive than originally planned. Nearly 3 in 10 shoppers (29%) are less likely to abandon their shopping cart during a personalized shopping experience, as seen in retailers’ cart abandonment rate metrics:    60%+ 46% Return on Investment: Cart Abandonment Rate Ecommerce Personalization Benchmark Report 2021 netcorecloud.com & 17
  • 18. netcorecloud.com Return on Investment: Conversion Rates is the average conversion rate after personalization Retailers saw an average Conversion Rate increase of 45% after investment in personalization was the average conversion rate before personalization & Personalization efforts have been well worth retailers’ time: 71% have seen overall returns of at least 4 times their investment in personalization 1.65% 1.14% Ecommerce Personalization Benchmark Report 2021 netcorecloud.com Among retailers surveyed 18
  • 19. netcorecloud.com Return on Investment: Average Page Views per Customer An impressive 37% of those with very personalized platforms achieve 15+ page views per customer. Moreover, shoppers add more products to their cart at a higher rate. Retailers with highly personalized platforms see shoppers add 24% of all products viewed to their cart. But those with little or no personalization see rates of just 19%. reported 10+ page views per customer before personalization reported 10+ page views per customer after personalization …51% …75% & Among retailers surveyed Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 19
  • 20. netcorecloud.com Return on Investment: Increased Spending While retailers with personalization are seeing more users make purchases, they are also gaining significant increases in customer spending. Virtually all see increases in average order value (98%) and revenue per user (97%). Average Order Value Average Revenue Per User Among retailers surveyed 3 in 5 (60%) retailers are seeing average order value jump by 10% or more post-personalization 10% The average revenue per user before personalization was $99, but 2 in 5 (41%) of all retailers are seeing growth of 10% or more after personalization 10%+ Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 20
  • 21. netcorecloud.com Return on Investment: Customer Retention Personalizing ecommerce platforms produces benefits for shoppers, who in turn reward retailers. 44% of shoppers say they become more loyal to a retailer that provides personalization. is the average 90-day customer retention rate for retailers with a very personalized platform is the average 90-day customer retention rate for retailers with some or no personalization Ecommerce Personalization Benchmark Report 2021 netcorecloud.com ...21% ...36% & Among retailers surveyed 21
  • 23. Retail Category Findings: Conversion Rates Jewelry Books Cosmetics Fashion/Apparel Groceries Marketplace Brand Pre-personalization 1.20% 1.43% 1.22% 1.29% 1.32% 1.31% 1.04% Post-personalization 1.78% 1.66% 1.75% 1.78% 1.79% 1.75% 1.50% Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 23
  • 24. Retail Category Findings: Cart Abandonment Rates Personalization has a similarly positive impact on cart abandonment rates across various types of retailers. Rates below 50% are achieved for marketplaces, brands and those that sell numerous types of products.  Jewelry Post-personalization Cart Abandonment Rate: Books Cosmetics Fashion/Apparel Groceries Marketplace 45% 44% 48% 48% 44% 44% 49% Brand Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 24
  • 25. Jewelry Post-personalization 90-Day Customer Retention Rate: Books Cosmetics Fashion/Apparel Groceries Marketplace Brand 35% 30% 34% 29% 46% 31% 27% Retail Category Findings: 90-day Customer Retention Rate Marketplace retailers and those that sell groceries or jewelry see the strongest 90-day customer retention rates after personalization investment.  Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 25
  • 26. Post-personalization Average Order Value gains of at least 10%: Jewelry Books Cosmetics Fashion/Apparel Groceries Marketplace Brand 76% 58% 70% 63% 72% 62% 57% Retail Category Findings: Average Order Value The majority of retailers across product categories see improvement in average order value of at least 10%, with higher shares of grocery and jewelry retailers seeing gains.   Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 26
  • 27. Post-personalization Revenue Per User gains of 10% or more: Jewelry Books Cosmetics Fashion/Apparel Groceries Marketplace Brand 71% 49% 47% 45% 36% 41% 40% Retail Category Findings: Revenue per User Nearly all retailers (97%) achieve an increase in revenue per user after personalization investment, with significant numbers across retailer types achieving growth of at least 10%.  Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 27
  • 28. Jewelry Books Cosmetics Fashion/Apparel Groceries Marketplace Brand Post-personalization Product-View to Add-to-Cart rate: 23% 18% 24% 20% 24% 20% 22% Retail Category Findings: Product-View to Add-to-Cart rate (share of products-viewed which are added to the cart) The average rate of products viewed that are added to the cart is 22% across all retailers, but some categories outperform, such as those that sell groceries or cosmetics.  Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 28
  • 29. Section IV Trends & Innovations
  • 30. Retailers need to understand how customers shop in order to make the most of those visits Ecommerce Personalization Benchmark Report 2021 netcorecloud.com Innovation Areas Products are viewed by each customer before buying, on average Visits are made to websites before buying, on average Nearly 4 in 5 want a shopping experience made just for them 8 10 77% 30
  • 31. More than 7 in 10 (71%) shoppers use the search bar frequently… 71% Retailers are taking action to address customers’ search demands, with nearly half (48%) offering personalized search results… 48% … and about a quarter (27%) of those who use the search bar to shop do so all the time. 27% …surpassing the share of shoppers who are demanding this at just over a third (35%). 35% search always search personalized search want such a search Ecommerce Personalization Benchmark Report 2021 netcorecloud.com 31
  • 32. Nearly 3 in 5 retailers say visual search will be a focus over the next five years Ecommerce Personalization Benchmark Report 2021 netcorecloud.com The top five innovation trends: #1 - Visual Search 40% 59% Are waiting for it Plan to focus on it Shoppers Retailers 32
  • 33. A majority of retailers expect real-time behavioral data to be a focus in the coming years Ecommerce Personalization Benchmark Report 2021 netcorecloud.com The top five innovation trends: #2 - Hyper Personalization 21% 56% Are waiting for it Plan to focus on it Shoppers Retailers 33
  • 34. Two in five retailers said that gamification helped them improve their key ecommerce metrics Ecommerce Personalization Benchmark Report 2021 netcorecloud.com The top five innovation trends: #3 - Gamification 42% improved their metrics via gamification Retailers 34
  • 35. More than 2 in 5 retailers are set to focus on initiatives that will allow shoppers to shop from any smart device using just their voice Ecommerce Personalization Benchmark Report 2021 netcorecloud.com The top five innovation trends: #4 - Touchless Shopping 29% 43% Are waiting for it Plan to focus on it Shoppers Retailers 35
  • 36. The concept of “try before you buy” using interactive technology will come to the fore by 2026 according to a third of retailers Ecommerce Personalization Benchmark Report 2021 netcorecloud.com The top five innovation trends: #5 - Augmented and Virtual Reality 27% 34% Are waiting for it Plan to focus on it Shoppers Retailers 36
  • 37. 45% 91% report no improvement in ecommerce CX would abandon a poor CX Conclusion Shoppers have made it abundantly clear: they want personalized ecommerce platforms that customize their experience to make it easier, faster and more accurate—and the benefits will be visible across retailers’ most important metrics. Otherwise, retailers risk losing customers who are becoming less and less willing to trudge through cluttered search results and irrelevant information. Ecommerce Personalization Benchmark Report 2021 netcorecloud.com Retailers 71% 87% have seen at least 4X ROI on personalization could improve personalization efforts Shoppers 37
  • 38. Conclusion More than 3 in 4 shoppers (77%) want personalized shopping experiences, starting with search, which retailers are working to improve. And shoppers are willing to help retailers augment the experience.  But shoppers alone cannot provide retailers with the help they need. With so many retailers facing an array of obstacles ranging from a lack of IT bandwidth to inadequate tools, they must act now and devise a strategy to improve their platform’s personalization, or risk being left behind. Ecommerce Personalization Benchmark Report 2021 netcorecloud.com Retailers Shoppers 59% 49% of retailers will prioritize visual search of retailers say data is a challenge 71% 72% of shoppers use the search bar of shoppers would share data for a better CX 38
  • 39. Netcore is a customer engagement & experience platform that helps B2C brands create amazing digital experiences with a range of products that help in engagement, retention and conversions. Netcore over the last 20+ years has enabled thousands of marketers and product managers around the world with its No-Code / Low-Code products to create a personalized omni-channel experience across website, mobile app & communications channels. With early investments in AI backed with 3 acquisitions, Netcore has led the way in delivering exceptional 1:1 customer experience—to reinvent how companies engage with their customers. To learn more, visit: www.netcorecloud.com Wakefield Research is a leading, independent provider of quantitative, qualitative, and hybrid market research and market intelligence. Wakefield Research supports the world’s most prominent brands and agencies, including 50 of the Fortune 100, in 90 countries. To learn more, visit: www.wakefieldresearch.com Methodological Notes This research was conducted by Wakefield Research among 200 U.S. executives from ecommerce retailers and 600 U.S. consumers, between February 24th and March 10th, 2021, using an email invitation and an online survey.  The overall margin of error for the Consumer Survey is +/- 4.0 percentage points at the 95% confidence level. The overall margin of error for the Executive Survey is +/- 6.9 percentage points at the 95% confidence level. Base sizes under 100 are considered small and associated findings are directional. 
  • 40. Why Choose Netcore for Personalization Our Promise 10 - 13% Increase in Conversions 6 - 9% Increase in Add-to-Carts 30 - 60% Increase in CTRs 15 Minutes to integrate 5 Days for going online 5 Weeks to see results Performance Reporting Measure conversion uplifts with advanced A/B testing within 5 weeks of integration Personalization beyond home-page Make shopping easy for your customers by greeting them with personalized boutiques and communications using past data Patented AI-based model Algorithms that improve your web & app conversions by predicting & sharing right products for each customer in real-time Quick integration Quicker results Taking less than fifteen minutes, the platform is built to integrate & scale-up quickly to help you jump right into business
  • 41. Our Ambassadors A W A L M A R T C O M PA N Y
  • 42. Sky-Rocket your Conversions with AI-led Personalization Product Recommendations That Deliver Netcore Cloud Inc. 182C-102 500 7th Avenue, New York, NY 10018 engage@netcorecloud.com , www.netcorecloud.com