Over the last 10 years, the way we consume has changed considerably.
We buy more: total household consumption in the UK has increased by more than 25% since 2011, according to Statista. We buy much more online: E-commerce spend has increased by more than +300% over the past 10 years. The Covid crisis has furthered this growth: e-commerce spend increased by over 30%, shifting online retail into a larger share of overall sales for retailers.
For many brands, this acceleration has meant dealing with more digital touch-points, including consumers interacting with a brands online campaigns, digital storefronts and post purchase communications, just to name a few.
Few retailers have been able to adapt to this new trend, however many have faced a new challenge in being able to make sense of this increased digital interaction and the associated data which is therefore created.
And there is one core challenge that plagued brands and retailers — delivering personalised communications across the entire marketing funnel.
And why is personalisation important? Well, a recent study showed that over 75% of consumers would prefer to buy from a brand who personalised the experience versus ones which did not. It’s that simple.
The message is clear, retailers need to find a solution to help them overcome this challenge, and they need to act soon to keep ahead of the digital transformation which is fast becoming the driving force of the E-commerce landscape.