Netcore Cloud is a globally recognized marketing technology SaaS company offering unified customer views, orchestrating omnichannel communication journeys, personalizing the apps and websites, optimizing user experience, real-time reporting, and actionable analytics for over the past 23 years. Netcore Cloud collaborated with Wakefield Research, a leading, independent quantitative, qualitative, and hybrid market research and market intelligence provider, to create a detailed Ecommerce Personalization Benchmark Report 2021.
The finding of this research report is based on a study conducted by Netcore & Wakefield Research across 200 e-commerce retailers & 600 e-commerce 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 globally 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 (“Ecommerce Personalization Benchmark Report 2021”) answers many questions on the state of Personalization in e-commerce:
- What is the cost of falling behind that e-commerce brands are experiencing when their personalization endeavors do not match customer expectations?
- What benchmarks should e-commerce brands pursue on their personalization efforts?
- What is the ROI from investments in Personalization?
- What rewards are e-commerce brands reaping from their personalization efforts?
- What are the hottest innovation trends in e-commerce personalization?
And many more.
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 Ecommerce Personalization Benchmark Report 2021 reveals critical insights on Personalization that every e-commerce brand can use to benchmark their personalization efforts as they try to match the shopper’s expectations: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.