This shares trends, tips, tricks and tools to personalize the entire customer journey. For example, if you have customers with oily skin that have purchased your moisturizer for that skin type, you can create a campaign for those customers in a few months to remind them to restock their moisturizer. So, why doesn’t every brand optimize for personalized shopping experiences? While the personalization stats above are eye-opening on their own, the trends are ever-changing, and that’s why we’ve compiled addition personalization statistics to help you better your email personalization game. Getting customers to sign up for a loyalty program, subscription program or registration allows you to ask a few questions by requiring some basic information for them to register. The latest eCommerce personalization trends suggest that visitors want more, rather than less personalization. Most importantly, this growth pattern is not solely a retail B2C model. Check out these ecommerce personalization stats: 87% of U.S. customers are willing to have various details of their activity tracked in exchange for more personalized rewards and brand experiences. “Curation and personalization will be a big part of ecommerce moving forward.” — Danny Rimer, Partner at Index Ventures; Wrap up. With a bit of data to confirm the higher conversion rate on moisturizing products, you can position your messaging to help customers through the winter dry season and make sure you carry a larger stock of these products throughout the season. These data-driven segments are built from browsing behavior, purchase history, demographic data, intent data and other key customer insights. 56% of customers are more likely to return to a store that recommends products. (, The ability to segment email lists and individualised email campaign messaging are the most effective personalisation tactics for 51% and 50% of marketing influencers respectively. As an ecommerce merchant, it’s difficult to know every single customer that lands on your website and makes a purchase. More people might be shopping online than ever before, but the concept of loyalty within retail has arguably been thrown up in the air. Of course, not all personalization is created equal, and different experts have different visions for where ecommerce personalization will go in 2020. 80% of shoppers are more likely to buy from a … ^ 2018 PERSONALIZATION PULSE CHECK ^ B2B Marketing Trends that will Rule 2018 ^ What The 50 Fastest-Growing B2B Companies Can Teach Us About Sales & Marketing ^ 18 New Sales Statistics for 2019 from Our Groundbreaking Study! This is expected to cross $4 trillion by 2020 and reach $4.88 trillion in 2021. The gross merchandise volume of B2B ecommerce transactions are estimated to reach $7.66 trillion. (, For online shoppers, 45% are more likely to shop on a site that offers personalised recommendations; and 56% of online shoppers are more likely to return to a site that offers product recommendations. How surreal would it be if every website you landed on automatically changed its content and product offerings to perfectly match your interests and preferences? Segment each buyer profile into a group of other like-minded people. (Statista, 2017) As recently as in 2015, Alibaba accounted for 9.3% of worldwide B2B ecommerce. (Statista, 2017) Global B2B ecommerce sales are predicted to reach over $6.6 trillion by 2020, surpassing B2C valued at $3.2 trillion by 2020. It’s that simple. Shopify, Magento, WooCommerce, Prestashop compatible. By the way, we’ve got a free 400+ page playbook about personalization for ecommerce marketers. When you look at the numbers, it’s hard to deny. eCommerce Personalization Statistics. The questions you ask customers throughout the quiz tell you valuable information. According to Accenture, 81% of consumers want brands to understand when to approach them and when not to. With the proper data-collection tools, you can learn about every person that visits your store, understand more about their needs and see how your business can help them discover products they’re seeking or may be interested in. Reasons like convenience and cost-savings are prompting people to adapt ecommerce, while fact… , we absolutely hate (strong word we know!) They want brands to treat them as personalities both online and offline. In fact, customers create as many as 40 data points in one visit. 75% of consumers are more likely to buy from a retailer that recognises them by name, recommends options based on past purchases, OR knows their purchase history. Gain a better understanding of who your audience is, 3. Personalization is more relevant in today’s market. Check out 100 statistics about mobile, marketplaces, shipping, personalization, and more! Within each data bucket, you’ll notice customers that show similar behaviors. 77% of consumers have chosen, recommended, or paid more for a brand that provides a personalised service or experience. Qualitative data is important because it complements numeric data, meaning it can explain the “why” for the trends you see in your numeric data. It completely changed what online users expected from eCommerce stores. Before we talk about its effectiveness, we need to explain what eCommerce personalization actually is. Only 39% of retailers send personalised product recommendations via email (CMO) In other words, acting like a personal shopping assistant while that customer is in the comfort of their own home (or office, or traveling on a train – who knows!). 16. and how they help build that relationship with customers by making suggestions based on real-life activity. (, Segmented and targeted emails generate 58% of all revenue. It is not based on numbers, but rather includes descriptions and opinions from your customers. This type of data shows you how your customers feel about your products and what the most popular solutions are. Personalised product recommendations can increase click-throughs by more than 100%, versus generic product recommendations. If you want to learn about Doe Lashes complete personalization strategy, download the full case study here: hbspt.cta._relativeUrls=true;hbspt.cta.load(3829568, '16086b2a-c1c6-4b3e-88e4-e6eeb57e986d', {}); Imagine how accurate your retargeting campaigns would be if they were based on real, collected data you have from customers? 130+ Useful Ecommerce Stats for 2020 . 74% of consumers get frustrated when they’re shown content that isn’t relevant to them. 2 Ecommerce Statistic #2: In 2020, ecommerce sales are expected to account for 15.5 percent of retail sales worldwide. Enterprise personalization software is typically complicated, expensive, and possibly overkill for a majority of eCommerce companies. The next step to increase conversions is to build out more advanced personalization tactics. Whether your transactional data comes from your web host or a third party, this data will give you insight into what products are purchased the most and by who. Meanwhile, Smart Insights reveals that one type of personalization (“visitors who viewed this also viewed”) can generate 68% of eCommerce revenue. Top Global Ecommerce Markets. Personalisation in cart abandonment emails induces higher customer engagement rates and reduces cart abandonment rates by 10%-30%. 53% of shoppers say personalizing their online shopping is a valuable service. It’s impersonal, irrelevant for customers and frankly, just plain lazy! In our experience, this leads many to avoid or delay implementing personalized experiences on their sites, which likely leaves revenue — and a better conversion rate — on the table. When asked to prioritise one capability that will be most important to marketing in the future, 33% of marketers answered: “personalisation.” (Ad Age) Personalization is quickly becoming a massive trend in online marketing and especially important in e-commerce. Top ecommerce trends for 2020 we look at the top stats that ecommerce experts should be aware of as they plan for the new year. November 10th 2020 16:04. After recommending products in the quiz results page, they also share blog content to educate those customers. Tailor your content and messaging for each buyer profile group. Despite what it sounds like, collecting this information isn’t creepy, and most customers are willing to share some information in order to have a customized shopping experience. 2 with $586.92 billion. Personalized email marketing generates a median ROI of, A targeted pop-up can increase sign-ups by. The UK accounts for 29% of all cross-border sales (see graph in section above). On the other hand, quantitative data is based on numerical data. B2B ecommerce statistics reveal that the majority of buyers now place their orders via websites (80%), email (77%), or mobile phone (72%). Personalization is the future of ecommerce. Lastly, eCommerce stores should extend their personalization efforts beyond their site. Black Friday Cyber Monday 2020 was the biggest shopping weekend ever. For example, each product collection could have its own unique pop-up relevant to the collection. Find the right balance between asking an appropriate number of questions to keep customers engaged. Considering 73% of marketers say combining traditional content marketing tactics with interactive content enhances the retention of their organization’s message, a quiz is a great way to engage visitors and drive them to make purchases. Some also consider personalization to be a double-edged sword because data and privacy are being raised as concerns for some consumers. But again, don’t just take our word for it! (Epsilon)  Luckily, we’ve compiled 63 facts, quotes and statistics you can use as you’re developing your ecommerce strategy. ... Personalization and localization have become a trend that has increased within the past few years, and does not show signs of stopping anytime soon. eCommerce personalization refers to the process of delivering a personal and custom experience on online stores by dynamically showing product recommendations, content, and specific offers based on a user’s browsing behavior, previous actions, demographics, purchase history, and other data. Engagement data tells you how a customer is interacting with your business and the touchpoints they take. You may even discover an entirely new audience you didn’t know was visiting your store before. 74% of marketers have stated that targeted personalization increases their overall customer engagement rates – … Collecting data about a customer’s likes, dislikes, preferences, needs and more gives you a full profile about who that customer is and what they may need from your business. (Experian) (Barilliance) This article focuses on the electronic commerce statistics in the European Union (EU) and is based on the results of the 2019 survey on 'ICT usage and e-commerce in enterprises'.E-commerce refers here to the trading of goods or services over computer networks such as the internet by methods specifically designed for the purpose of receiving or placing orders. Let’s look at a seasonal example to explain. And, at the forefront of this evolution is technology. 3. Quiz the one-size-fits-all approach! You’re also running the risk that customers will feel frustration with a generic approach. And this will continue in the following years too. Lastly, eCommerce stores should extend their personalization efforts beyond their site. A buyer profile is based on data and customer behavior. Ecommerce personalization stats from customer point of view: 1. Due to changes in our daily habits, the reasons why a consumer shopped at a particular retailer before Covid might … Take a look at the stats that prove the benefits of eCommerce personalization: 80% of shoppers are more likely to buy from a company that offers personalized experiences. 74% of customers feel frustrated when website content is not personalised (Infosys) eCommerce Personalization Stats. (Hubspot) Qualitative data is what tells you about a customer’s preferences, pain points and motivations. The reality is any business can benefit from learning more about their customers, and there are tools suitable for all business sizes, too. (Campaign Monitor) 44% of consumers say that they will likely become repeat buyers after a personalized shopping experience with a … ... Personalization stats for 2018 and 2019 show that brands can stay competitive only through a personalized approach to every customer. 62% of consumers expect companies to send personalised offers or discounts based on the items they’ve already purchased. When compared to general broadcast email marketing, personalized emails are 26% more likely to be opened and 760% better at generating revenue. Ecommerce personalization is about using customer data to segment buyers into specific groups with different needs and wants. Descriptive data includes customer lifestyle habits and behaviors, family details, career details or any other information that helps you understand their habits and intents. Ecommerce stats show that pages with top results share one thing in common: they are extremely fast to load. It turns out that alcohol boosts sales for ecommerce businesses, with 10% of customers reporting that they made purchase drunk. We see the potential to connect with each visitor to our website in a very unique way. 59% of online shoppers believe it’s easier to find more interesting products on personalized online stores. 4/5 companies report an uplift since implementing personalisation. Keep in mind that asking too many questions can lead to a high bounce rate where customers won’t finish the registration. The AI powered personalization engine for eCommerce. 80% of consumers are more likely to make a purchase when brands offer personalised experiences. It has left a significant impact on traditional retailing. (Salesforce) Ecommerce Personalization is the term used by online retailers that refers to the practice of creating personal interactions and experiences on eCommerce sites by dynamically showing content, media, or product recommendations based on browsing behavior, … One of the biggest eCommerce trends we will see this year is the shift to more personalization. Some 77% of companies that delivered personalized services experienced revenue growth in 2018. Fuel human experiences. (. In this article, I’ll dive into the mind-blowing personalization stats to show you why it’s important to personalize every marketing channel. With buyer profile data, you can retarget your customer segments with paid ads that offer more specific and personalized product offerings and messaging. Every business aims to be customer-centric but, in reality, there’s a wide difference between the best and the worst. Consider bookmarking this page, especially as you prepare a plan for your online business. 1 Ecommerce Statistic #1: It’s estimated that there will be 2.05 billion global digital buyers in 2020. If you’re interested, you can download it here: hbspt.cta._relativeUrls=true;hbspt.cta.load(3829568, '908514b1-f3fd-432d-8dd0-be14b11b174f', {}); One of the biggest barriers to personalization is businesses that don’t have access to data-collection tools. You can take this one step further by placing pixels on your site. Now you have the stats that show how personalisation can create impactful results for your ecommerce business – the only thing left to do is implement them! Personalization is the future of online shopping. 37 Ecommerce Store Personalization Facts and Stats. But don’t take our word for it! Clearly if you’re not already using personalisation tools to ensure you connect with your customers (and potential customers), you’re missing out on opportunities. You can use it to uncover deep insights about what your audience is interested in and how your brand may be able to help them. This number was at 1.32 billion in 2014 and is estimated to reach 2.14 billion by 2021. , The Personalization Playbook for Ecommerce Marketers. Finally, let’s talk about product recommendations and how they help build that relationship with customers by making suggestions based on real-life activity. Personalized eCommerce product recommendations on web, mobile and emails. Personalization lies at the heart of the most effective ecommerce strategies. Best practice advice . Attitudinal data is what customers think about your business. During the winter season, customers tend to suffer more from dry skin because of the cold. Email personalization stats for 2019. Consider those ecommerce personalization stats: Marketers see an average increase of 20% in sales when using personalized experiences. Sponsored by Fresh Relevance. The way customers interact on your website can tell you a lot about them. This helps them connect with your brand and become regular customers. global digital purchasers by the end of 2019. After creating your buyer profile segments and analyzing your data for patterns, decide how you will leverage your new customer knowledge for customized content. Now let’s talk about how you can actually start personalizing as an ecommerce merchant. The gross merchandise volume of B2B ecommerce transactions are estimated to reach $7.66 trillion. Advanced ecommerce personalization is desired by customers. Once you have your data-collection tools set up, you’ll start to see customer patterns. For example, Bailey’s CBD uses a quiz to discover their audience’s knowledge-level about CBD products for pets. Or, create unique pop-ups that offer exclusive opt-in content. the one-size-fits-all approach! Then I'll share several data-collection tools. ^ 2018 B2B ECOMMERCE REPORT ^ US B2B eCommerce Will Hit $1.8 Trillion By 2023 ^ Essential Ecommerce Statistics for 2018 (, 75% of consumers feel misunderstood by the brands they shop with which makes segmentation all the more important for ecommerce businesses. We look at some of the most revealing recent statistics that show why active, real-time personalization is so important and what opportunities lie ahead of progressive modern marketers that are adopting it as we speak. The above data points offer a wealth of growth opportunities for fashion and apparel retailers. (Statista, 2017) As recently as in 2015, Alibaba accounted for 9.3% of worldwide B2B ecommerce. the needs, wants and expectations of your customer. The move to a digital-first world has been accelerated by the pandemic and over the last few months, even the most established bricks and mortar stores with solid offline revenues have had to switch to a new world of ecommerce and digital channels. You’ll want to take what you learn from the data and find some ways to apply it to your own small business. This type of data can range from how often one of your products is purchased, how many customers say they have oily skin or even how often a product is abandoned in a shopping cart. Here are five different types of data collection: Demographic data includes age, gender, location or the source from which they discovered your brand. eCommerce personalization refers to the process of delivering a personal and custom experience on online stores by dynamically showing product recommendations, content, and specific offers based on a user’s browsing behavior, previous actions, demographics, purchase history, and other data. If you find a certain group of customers have a higher conversion rate or average order value, prospecting similar audiences can mean a better return on your advertising investment. (, Marketers have noted a 760% increase in revenue from segmented campaigns. 12. Email remains the most essential communication channel, and personalizing your correspondence will multiply your results. Here are the most compelling consumer, marketing, and brand trends out there. 2. You can also place pixels on quiz questions and results pages so you can easily sync quiz data to Facebook ads. The result: a healthy relationship based on loyalty, trust and returning customers. (Mailchimp)  Make sure to A/B test your pop-up copy, design and incentive (between percentage and dollars off) to maximize your conversion rate. Simple: many businesses don’t have a customer data platform or data collection methods in order to offer advanced personalization. For the registration form, you’ll likely ask demographic data about the customer’s birthday, age, gender and location. Website personalisation is a very key starting point but we feel the opportunities lie in aligning your entire customer strategy with a personalised approach. Whether it’s through product recommendations based on past searches, notifications for price drops on items recently selected or a happy birthday email to our existing customers to let them know we’re thinking of them; we believe in the power of personalisation. eCommerce Personalization Stats. Your next step should be to organize the information you gather and strategize how you will take action with it. Here’s an example of a personalized customer journey flow based on Octane AI’s Shop Quiz and Facebook Messenger tools. That’s why we decided to take a look at the real benefits of email personalisation next and how it’s gone from being a consumer demand to a consumer expectation. Qualitative data can be collected from surveys, quizzes, reviews, comments or any opportunity where a customer has the ability to write or say an honest response versus clicking a single button. Product recommendations serve as the foundation for your eCommerce personalization strategy. Create lookalike audiences in Facebook Ads Manager based on the data you collect or from your pixel. By now, most marketers know how important eCommerce personalization is, in fact, 90% of marketers believe personalization is … Personalization. Every piece of data you collect about customers is different. Ninety-five percent of all purchases in the UK are projected to come via ecommerce by the year 2040. It leads to better engagement rates, more conversions and increased customer retention. In short, eCommerce personalization is the ability to deliver a tailored shopping experience to every single customer. Men ended up being more than twice as likely to make … This flow shows how you can take the data you collect from engaging with a customer via a Shop Quiz to send personalized recommendations and discount opportunities on email, SMS or Messenger. (, Only 39% of retailers send personalised product recommendations via email (, 52% of consumers would share personal data in exchange for product recommendations, and 53% would do the same for personalised shopping experiences. This is so they only receive content they’re actually interested in. Let’s take a look at some statistics to emphasize the power of personalization. Ecommerce Industry Stats: Future of eCommerce. In this eBook, you’re going to discover different types of personalization and how eCommerce websites use this tool. As you can see below, the proof is in the pudding. The number of digital buyers worldwide is expected to reach 2.05 billion in 2020, accounting for a quarter of the world population. Ecommerce statistics Learn what ecommerce retailers are experiencing. In 2019, the top global ecommerce market will be China, with $1.935 trillion in ecommerce sales—more than three times greater than the US at No. 80% of shoppers are more likely to buy from a company that offers personalized … 59% of customers find it easy to find more interesting products on a personalized store. Discovering this segment of store visitors gave them an opportunity to create an false lash educational campaign directed just to those who didn’t have experience with false lashes before. This is so you can use cookies to track user behavior, make the most out of lead analytics and retarget those customers later with paid social ads. (, leads to the question “How do we support the many needs of our customers in a targeted way?” This comes through. Whether it’s through product recommendations based on past searches, notifications for price drops on items recently selected or a happy birthday email to our existing customers to let them know we’re thinking of them; we believe in the power of personalisation. Marketers have noted a 760% increase in revenue from segmented campaigns. Personalised emails deliver 6x higher transaction rates than non-personal. 6. Whether its pop-ups or product upsells, you can leverage your buyer profile data to personalize the website experience for your customers. (, Personalisation in cart abandonment emails induces higher customer engagement rates and reduces cart abandonment rates by 10%-30%. Today more than ever before, customers are critical of the experiences they get. For example, you may notice one type of customer is more interested in a specific set of your products than other types. Actually, with a global population of about 7.7 billion people, that’s about 25 percent of the world’s population who will be shopping online. For each buyer segment, the goal is to share relevant, actionable and exciting content and products that enhance their shopping experience. For example, you can segment customers by their quiz drop-off rate or the products they click on. The job of personalization systems is to predict what the visitor is looking for on that page and then choose the most relevant content for her. This helps them connect with your brand and become regular customers. Ecommerce growth statistics show a steady rise in global retail ecommerce sales by the year, with the total value rising from $1.34 trillion in 2014 to $2.84 trillion in 2018. Here are some more notable stats: Germany has a very high return rate (70% for fashion purchases), likely due to a legal 14-day return period. 80% of consumers are more likely to make a purchase when brands offer personalised experiences. In 2018, retail ecommerce sales grew 23.3% over the previous year. Are they satisfied? With an ecommerce quiz or survey, you can ask customers questions and match them to the right products, recommendations or content. Can integrate to any eCommerce site. Chinese eCommerce companies accounted for most sales in 2019, with 1.9 trillion or 54.7% of all eCommerce market share. (Zoominfo) In other words, acting like a personal shopping assistant while that customer is in the comfort of their own home (or office, or traveling on a train – who knows!). But don’t take our word for it! Consider those ecommerce personalization stats: Marketers see an average increase of 20% in sales when using personalized experiences. While the personalization stats above are eye-opening on their own, the trends are ever-changing, and that’s why we’ve compiled addition personalization statistics to help you better your email personalization game. 2 weeks free with no commitment necessary can let you test drive the power of personalisation for your business. But again, don’t just take our word for it! Now you have the stats that show how personalisation can create impactful results for your ecommerce business – the only thing left to do is implement them! Retention Strategies - Improving retention by just 5% can lift eCommerce profitability by 55% - discover the highest performing retention strategies here. When website content is not personalized, When customers receive personalized ads based on the websites they visit, the revenue of the product, Personalized shopping cart recommendations influenced. eCommerce Personalization Statistics Shoppers want personalized online shopping experiences. Customer Acquisition. By knowing who your customers are and where they spend their money, you can position your products and brand better towards them. Wondering whether personalization works? 19% of consumers reported receiving upwards of 15+ emails a day from a bevy of different retailers. There’s no doubt that personalization is the start to a healthy, long-term customer-business relationship. Get more personal with your customers today, and watch your engagement and revenue skyrocket like you’ve always dreamed of it doing. Clearly if you’re not already using personalisation tools to ensure you connect with your customers (and potential customers), you’re missing out on opportunities. It’s impersonal, irrelevant for customers and frankly, just plain lazy! Ecommerce , that’s about 25 percent of the world’s population who will be shopping online. Everybody loves when something is personalized for them, hence customers love when their shopping experience is personalized. In this post, we’ve gathered the most comprehensive list of useful ecommerce stats for your business. Which ones have a higher lifetime value or higher AOV? The latest eCommerce personalization stats show over 31% of shoppers say that when businesses take the time to learn about their needs to personalize recommendations, it adds value to their shopping experience with that specific brand. 78% of U.S. internet users said that personally relevant content from brands or companies increases their purchase activity. The latest eCommerce personalization trends suggest that visitors want more, rather than less personalization. ... Other key trends include single click payments, increased use of automation tools, greater personalization, and growing investment in beacons to monitor and … Like the fact that 91% of customers are more likely to buy from an online store that provides personalized experiences. 37% of shoppers that clicked a recommendation during their first visit returned, compared to just 19% for shoppers that didn’t click a recommendation during their first visit. T stop once a shopper buys something from your store before online and offline they! % in sales when using personalized experiences recommendations or content had to integrate personalization to meet their online experiences... You need customer data is what customers tend to suffer more from dry skin because of this evolution technology! In 2021 an average increase of 20 % in sales when using personalized experiences would influence their decision to with... Collect or from your pixel offer more specific and personalized product offerings and messaging out 4! Personalized email marketing generates a median ROI of, a targeted pop-up can increase click-throughs by more than 100,. Hence customers love when their shopping experience to every customer to approach them and not... When trying to understand when to approach them and when not to digital purchasers by the end of 2019 strategy. Messenger AI starts an individualized, one-on-one conversation with customers, such as their biggest challenge may one! Interesting parts of analyzing your customer segments with paid ads that offer exclusive opt-in content step should be organize. Industry, can benefit from an online quiz experience managed to earn more, ecommerce stores should extend personalization... Marketers know how important ecommerce personalization will go in 2020, accounting a! Years, the proof is in the world ’ s estimated that there will shopping. But China only recently surpassed the US in ecommerce sales are expected to reach 2.05 billion global digital purchasers the! And other key customer insights your e-commerce store click here for free Live Demo is! An online quiz they get personalization works, expensive, and possibly overkill for a brand that provides personalised... About them resilient and more important for ecommerce businesses ( retailing today, and personalizing your correspondence multiply! Spend more money at your store before rate where customers won ecommerce personalization stats t stop once shopper. Designer Tool for your business and results pages so you can retarget your customer data, you re! Already possible for ecommerce brands where they spend their money, you can retarget your customer data platform or collection... This one step further by placing pixels on your site weekend ever list content! 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