The finding of this research report is based on a study conducted by Netcore & Wakefield Research across 200 executives from US e-commerce retailers & 600 US shoppers between February & March 2021. The report offers profound insight into the personalization goals and challenges of online retailers.
Speaking about the report, Kalpit Jain – Group CEO, said, "E-commerce brands in the US are increasingly focusing on Personalization as more and more shoppers lookout for a personalized customer experience while shopping on e-commerce platforms. However, the concept of Personalization can have a very different meaning to retailers and customers alike, which is resulting in varying levels of customized experiences across the e-commerce landscape."
"There is a definitive need for a report that would help leading e-commerce brands make informed decisions," he added.
This report ("E-commerce Personalization Benchmark Report 2021") answers many questions on the state of Personalization in e-commerce:
1. What is the cost of falling behind that e-commerce brands are experiencing when their personalization endeavors do not match customer expectations?
2. What benchmarks should e-commerce brands pursue on their personalization efforts?
3. What is the ROI from investments in Personalization?
4. What rewards are e-commerce brands reaping from their personalization efforts?
5. What are the hottest innovation trends in e-commerce personalization?
And many more.
Timothy Moran, Vice President, Enterprise Sales at Netcore Cloud, said, "The E-commerce Personalization Benchmark Report 2021 findings show that though 91% of shoppers would abandon an online retailer for a poor shopping experience, a majority of e-commerce brands are yet to catch up with shopper's expectations. It is our steadfast effort to bring the best practices and key facts that will help e-commerce majors create a lasting impact on their buyers."
The report defines average conversion rates in the e-commerce industry. It highlights the impact of Personalization on other key metrics like ROI, average revenue per user, average order value, etc. It also reveals how the 70% of users abandoning the cart as a stat is not valid anymore and reveals a new norm.
Further, the report quantifies the cost of falling behind for e-commerce brands when shoppers do not find the Personalization on e-commerce platforms adequate. It highlights the top challenges that online retailers face in their personalization efforts. The 36-page E-commerce Personalization Benchmark Report 2021 reveals critical insights on Personalization that every US e-commerce brand can use to benchmark their personalization efforts as they try to match the shopper's expectations.
About Netcore Cloud: Netcore Cloud is a globally recognized marketing technology SaaS company. It offers full-stack Martech products that help product and growth marketers deliver AI-powered intelligent customer experiences across all touchpoints of the user journey. The platform is an all-in-one solution for building unified customer views, orchestrating omnichannel communication journeys, personalizing the apps and websites, optimizing user experience, real-time reporting, and actionable analytics. All the products are designed to scale, with a focus on ROI. Netcore Cloud delivers 12+ billion emails and tracks 100+ billion marketing events every month for the world's top marketers.
Netcore Cloud serves over 5000 clients spread across 18 countries. Industry-leading brands like Canon, Disney+ Hotstar, Jockey, Puma, The Body Shop, Jack & Jones, Tommy Hilfiger, Gas Jeans, Tobi, Standard Chartered, Pizza Hut, and McDonald's trust Netcore Cloud to power their customer acquisition, engagement, and retention goals.
Netcore Cloud has been in business for 20+ years and operates out of India, the USA, Germany, Nigeria, Singapore, Malaysia, Thailand, Philippines, Vietnam, and UAE.
For additional information, please contact timothy.moran@netcorecloud.com
About Wakefield Research: Wakefield Research is a leading, independent quantitative, qualitative, and hybrid market research and market intelligence provider. Wakefield Research supports the world's most prominent brands and agencies, including 50 Fortune 100, in 90 countries.
Timothy Moran,Vice President, Enterprise Sales
Netcore Cloud
+1 570-885-2495
timothy.moran@netcorecloud.com
