MyBuys Study: Half of Consumers Admit They Spend More When Retailers Personalize the Shopping Experience
SAN MATEO, Calif. (PRWEB) February 20, 2015 -- A new MyBuys study released today finds that 48 percent of consumers recognize that they purchase more from retailers that leverage shopper interests and buying behavior to personalize the customer experience across all channels.
In the seventh annual Personalization Consumer Survey commissioned by MyBuys and conducted by the e-tailing group, 53 percent of consumers said it’s also important that retailers recognize them as the same person across all channels and devices they use to shop. MyBuys, the leading provider of coordinated personalization solutions for display ads, email, websites and mobile, released the personalization study at the eTail West 2015 Conference.
The report also highlights that 74 percent of consumers ages 55 and older used their smart phones for product research in 2014, and 33 percent actually made a purchase on their smart phones. Consumers ages 25 to 34 were even more likely to shop on their mobile devices – 94 percent reported researching products on their smart phones while 74 percent said they’d continued on to make a purchase.
“Consumers want consistent personalization everywhere they shop and on every device they use,” said Rita Brogley, president and CEO of MyBuys. “By incorporating more tailored content and offers into their marketing strategies, retailers can improve brand loyalty, boost conversion and increase sales.”
When it comes to purchasing, the majority of shoppers indicate they spend more with retailers that make website product recommendations based on browsing or buying behavior (53 percent) or target them with online ads based on shopping behavior (52 percent). Almost half say they spend more with retailers that send personalized emails (48 percent).
The MyBuys study finds that consumers have not only become more comfortable with personalization – they now expect it. More than a third of survey respondents report getting frustrated when retailers don’t offer personalized website recommendations (39 percent) or send personalized email offers (38 percent), or take into account online purchases (37 percent) or in-store purchases (34 percent) when sending out subsequent marketing offers.
“Consumers engage and shop more when they receive a truly personalized shopping experience across all channels,” Brogley said. “When done right, customers consider personalization a valuable service rather than an annoyance.”
The evolution of personalization
Over the past seven years, the annual MyBuys study has chronicled the evolution of personalized marketing from a new and potentially intrusive technology to a widely accepted and expected e-commerce marketing strategy. The 2015 survey findings show just how far personalization has come:
• Personalization matters more to younger shoppers. Sixty-nine percent of consumers ages 25 to 34 are comfortable sharing their information with retailers to improve their shopping experience, compared to only 46 percent of shoppers 55 and older. Similarly, 92 percent of younger shoppers, compared to 72 percent of 55+ shoppers, are willing to share in-store purchase data in order to receive a more personalized shopping experience.
• Personalization is critical across all touch points, including mobile. The number of consumers who report using a mobile device to shop most of the time grew 36 percent from 2013 to 2014. Now 20 percent of consumers claim tablets as their primary online shopping tool and 18 percent of consumers say they mainly use smartphones to shop. Additionally, 70 percent of 25- to 34-year-old shoppers research products or make purchases across three or more devices, which shows how easily consumers can transition from device to device.
• Personalization doesn’t only apply to the online shopping experience. More than half of consumers (53 percent) say retailers who consider their in-store purchases deliver a superior shopping experience across all online channels, and 78 percent are willing to allow retailers to use information from their in-store purchases to provide a more personalized experience whenever they shop.
To download the full report and view complete survey findings, visit http://www.mybuys.com/personalization_ebook2015.
MyBuys builds comprehensive profiles based on individual shopping behaviors, then uses a patented portfolio of algorithms and real-time optimization to deliver the most relevant recommendations to each individual consumer. The company was named the #1 personalization provider in the Internet Retailer 2014 Top 500 for the sixth year in a row. Eighty-five of the IR 500 and 98 of the IR second 500 named MyBuys as their personalization provider.
About MyBuys
MyBuys provides coordinated personalization solutions for display ads, email, websites and mobile devices to retailers, brands and agencies. We automate and deliver billions of targeted offers each day using our Active Shopper Database comprised of the behaviors and purchase intent of 250 million consumers. MyBuys has been named the top provider of personalization solutions to the IR500 every year since 2009, and is headquartered in Silicon Valley, with offices in Ann Arbor and New York. Visit http://www.mybuys.com for more information.
Maggie Nichols, Walker Sands Communications, http://www.walkersands.com/, +1 312-648-6001, [email protected]
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