We may still be in the nascency of 2018, but it’s safe to call it a salient year for retail personalization, with potential for future growth. Consider the comments of Forrester analyst Brendan Witcher, who expressed in a recent AdWeek article that more than 70 percent of retailers want personalized store experiences (the highest figure to date), while nearly three out of four consumers participate in personalized offers, recommendations or experiences. These stats, combined with the fact that 56% of shoppers stated they want some form of personalization within their retail mobile app experiences, tell us that shoppers want retail personalization and retailers are working hard to give it to them.
In the spirit of Valentine’s Day, we have a heart for these brands leading the new wave of retail personalization:
The Home Depot
Personalization is all about relating to the needs of customers, and The Home Depot does it by sourcing real-time data and analytics from site visitors, optimizing its web interface. The home-improvement supplier accrues feedback from customer ratings, reviews and frequently asked questions to personalize the online experience, adding more details to product descriptions and providing close-up photographs and videos of items. These data-driven product pages boost The Home Depot’s online sales and conversions.
The Home Depot also delivers a top-of-line mobile web experience, another plus for personalization, as more retail purchases trend toward mobile devices. The company’s mobile search engine is packed with features, such as callbacks to recent searches and real-time keystroke suggestions of products and categories. All product information includes mobile-formatted content (e.g. videos, where possible), while single-page checkout and live chats give the mobile consumer a smoother and more convenient shopping experience.
As the largest online-only furniture retailer in the US, Wayfair depends on the personalization of its mobile platform, offering easy site navigation and deep functionality, creating more revenue opportunities. Wayfair enhances its product description pages with rich media and videos, while enabling the consumer to save “liked” products, choose among payment options (PayPal, Affirm, Apple Pay) and receive product recommendations (with one-tap cart addition) augment the personalization process.
Saks Fifth Avenue
The luxury department retailer employs retargeted and personalized video advertisements to increase online sales while maintaining return on ad spend (ROAS). Saks’ personalized video ad campaign consists of SmartVideo pre-roll ads featuring relevant consumer information targeted specifically to a shopper’s browsing history and her propensity to make a purchase. In addition, the brand incorporates Facebook as a channel for personalized videos, testing different story variations to determine what resonates most with its audience. These various initiatives result in further enticement for consumers to reconsider their shopping decisions.